March 5, 2021

Opinion: thanks to the Lightning Network BTC price will rise to a million dollars

Opinion: thanks to the Lightning Network BTC price will rise to a million dollars

According to Tim Draper, in 2022, the price of BTC could rise to millions of dollars, and the reason for this will be innovative payment systems like the Lightning Network.

Answering questions during the Malta AI & Blockchain summit last week, venture capitalist Draper said innovations like LN will be a catalyst for BTC price increases. He said:

I think that payment systems working withBitcoin will have a significant impact on the development of cryptocurrencies. Lightning Network and OpenNode allow fast and secure transactions, so BTC will turn from an investment asset into a viable payment method.

And although the Lightning Network is not directlyIn the sense of a payment operator, the system allows for almost instant BTC transactions at a very low price. The transaction fee within LN can be much lower than the on-chain transaction - such a transfer will cost approximately $ 0.000008788 or 1 satoshi.

Recall that recently during his interview, Draper said that the price of the first cryptocurrency will rise above the $ 250,000 mark.

According to the materials cointelegraph.com