How many BTC have been transferred using the Lightning Network?

As of August 2021, Lightning Network stats show that more than 2,000 BTC have been transferred using the network. It is important to note that the Lightning Network does not implement a new token and allows for the same freedoms as Bitcoin – it’s decentralized, permissionless, and open source.

What is the Bitcoin 'Lightning Network'?

What is the Bitcoin "Lightning Network?" Bitcoin developers and users alike have been looking for a solution to the ongoing problems that have resulted from the rapidly growing interest and demand for the cryptocurrency. August 24, 2017 was seen as a big day for Bitcoin; it was on this day that SegWit was implemented on the Bitcoin network.

What if Bob & Alice had a balance of 5 BTC?

In their channel – they’d now both have a balance of 5 BTC. Alice could then write to the ledger pay 1 BTC to Bob. Now, Bob has 6 BTC on his side, and Alice has 4. Then, Bob could send 2 BTC back to Alice at a later date, updating the balances to 6 BTC on Alice’s side and 4 BTC on Bob’s. They can continue to do this for a while.