{"id":431368,"date":"2022-04-14T06:15:06","date_gmt":"2022-04-14T03:15:06","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/cash-app-and-chivo-help-drive-lightning-payment-volume-up-400\/"},"modified":"2022-04-14T06:15:06","modified_gmt":"2022-04-14T03:15:06","slug":"cash-app-and-chivo-help-drive-lightning-payment-volume-up-400","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/cash-app-and-chivo-help-drive-lightning-payment-volume-up-400\/","title":{"rendered":"# Cash App and Chivo help drive Lightning payment volume up 400%"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_89 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6af8182d9c322\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6af8182d9c322\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/cash-app-and-chivo-help-drive-lightning-payment-volume-up-400\/#%E2%80%9D_Cash_App_and_Chivo_help_drive_Lightning_payment_volume_up_400_%E2%80%9C\" >&#8221; Cash App and Chivo help drive Lightning payment volume up 400% &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Cash_App_and_Chivo_help_drive_Lightning_payment_volume_up_400_%E2%80%9C\"><\/span>&#8221; Cash App and Chivo help drive Lightning payment volume up 400% &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>A new report highlights how the Lightning Network has grown in popularity as a way of transferring digital assets quickly and efficiently around the globe.\u00a0<\/p>\n<p>CNBC t<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2022\/04\/13\/watch-as-we-send-bitcoin-from-miami-to-a-ukrainian-in-poland-.html\">oday<\/a> told the story of Alena Vorobiova, a Ukrainian refugee currently seeking sanctuary in Poland. Vorobiova used Lightning to transfer $100 worth of Bitcoin from Miami, where it was then withdrawn from an ATM in the equivalent Polish currency \u2014 all within the space of three minutes. <\/p>\n<p>That\u2019s the sort of low cost, high speed transaction that has seen the Layer 2 scaling solution for Bitcoin grow 410% in payment volume over the past year.<\/p>\n<p>According to the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/assets.ctfassets.net\/4rilomtvvae4\/3wrBvznCykPAohtwhCGmfE\/9ab5a76cce470cc65a656b896d2300fb\/The_State_of_Lightning_Vol_2.pdf\">report<\/a> published by Arcane Research, the number of payments that occurred on the Lightning Network in the past year doubled while the total value of those payments quadrupled. <\/p>\n<p>The report warned that the widely-cited public metrics used to measure Lightning Network adoption \u2014 most commonly total value locked (TVL) \u2014 underestimate the size of the network as they fail to count private channels and invisible nodes. Additionally, the metrics don\u2019t reflect real world Lightning Network usage, whereas looking explicitly at payment volume paints a clearer picture of real Lightning adoption. <\/p>\n<p>A partial explanation for the surge in payment is owed to the enormous increase in the number of users who have recently gained access to the Lightning Network. This is through <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>s like El Salvador\u2019s Chivo Wallet and US-based payment application, CashApp. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/2bacd239-6b11-42aa-a1b7-53b89760b5c9.png\"><figcaption style=\"text-align: center;\">The State of Lightning Vol. 2 Report: Arcane Research<\/figcaption><\/figure>\n<p>Arcane estimated that in Aug. 2021, roughly 100,000 users had access to Lightning payments. By March of this year, over 80 million people had the ability to access payments on the Lightning Network , which shows that there is a large potential user base. <\/p>\n<p>The report found that roughly 50% of the value of all payments came from direct transactions between individuals \u2014 Peer-to-Peer (P2P) transactions. Almost one third of the payment value came from exchange withdrawals and deposits, with the remaining 20% coming from purchases made through some form of vendor.<\/p>\n<p><strong>Related: <\/strong><strong>Lightning to strike Shopify merchants with addition of BTC payments<\/strong><\/p>\n<p>Despite Bitcoin being originally designed as an electronic cash system \u2014 the sluggishness of the Bitcoin networks in resolving transactions gave rise to layer-2 solutions. The Lightning Network was launched in March 2018 to provide faster and cheaper BTC transactions.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/cashapp-and-chivo-help-drive-lightning-payment-volume-up-400\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Cash App and Chivo help drive Lightning payment volume up 400% &#8220; A new report highlights how the Lightning Network has grown in popularity as a way of transferring digital assets quickly and efficiently around the globe.\u00a0 CNBC today told the story of Alena Vorobiova, a Ukrainian refugee currently seeking sanctuary in Poland. Vorobiova&#8230;<\/p>\n","protected":false},"author":1,"featured_media":431369,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvMTg3ZjZjZWYtNTE3Yy00OGNkLWFhYTQtNTg1MTc2ZDNlMWJjLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,75029,76341,74355],"class_list":["post-431368","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-lightning-network","tag-scalability","tag-adoption"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/431368","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=431368"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/431368\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/431369"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=431368"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=431368"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=431368"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}