Advertise
CoinTrust
BTC
ETH
BCH
SOL
DOGE
SHIB
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • VPN Friendly Casinos
    • New Crypto Casinos
    • Offshore Online Casinos
    • Best Crypto Casinos Reddit
    • Bitcoin Poker
    • Bitcoin Betting Sites
    • Bitcoin Bingo
No Result
View All Result
CoinTrust
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • VPN Friendly Casinos
    • New Crypto Casinos
    • Offshore Online Casinos
    • Best Crypto Casinos Reddit
    • Bitcoin Poker
    • Bitcoin Betting Sites
    • Bitcoin Bingo
No Result
View All Result
CoinTrust
No Result
View All Result

Home » Shitcoin.com Owner Controls 49% Of Lightning Network’s Capacity

Shitcoin.com Owner Controls 49% Of Lightning Network’s Capacity

Kelly Cromley by Kelly Cromley
Jul 16, 2018
in News
Reading Time: 2 mins read
0

BTC supporters became happy when they became aware that the cryptocurrency’s Lightning Network’s (LN) capacity had jumped by 216% in a single day. However, their excitement did not last long when it was found that the sharp rise in capacity was due to a single node owned by Andreas Brekken, who owns Shitcoin.com, the notorious anti-Bitcoin website.

According to the Lightning Network statistics provided by 1ml.com, the node now commands control more than 49% of the total capacity of the Lightning Network. Brekken is also a close associate of Roger Ver, owner of Bitcoin.com and a ferocious supporter of Bitcoin Hash (BCH).

RelatedPosts

MovieDOM Reimagines Entertainment with a Decentralized Vision

CDARI and Laika AI Unite to Strengthen Web3 E-Commerce

Funtasy Joins Aptos: A New Era for Blockchain Game Launches

Palmistry Meets Web3: SFT Blockchain Taps AI for Digital Self-Discovery

Andreas Brekken entered cryptocurrency sector way back in 2011. Ironically, Brekken was once a strong critic of off-chain scaling. Now, he owns the largest lightning network node. The extent of dominance can be understood from the fact that the second biggest node has only 1% of Lightning network’s capacity.

Brekken’s website reviews altcoins and also provides a rank list. The review is done by purchasing the tokens and testing the corresponding blockchain platform. The site is well known for its scathing criticism of ICOs and cryptocurrencies that mislead investors through lies and impossible goals. The website has its name from the ability to quickly identify cryptos which loses popularity and value over time.

Before Brekken’s node went live, the capacity of entire Lightning Network was only around $225,000. With Brekken’s arrival in the scene, the total network capacity shot up to $427,000. As of date, Brekken owns a Lightning Network node with a capacity of 35.4 BTC (~$221,000).

Single lightning node has 20BTC capacity and 146 open channels. I believe the owner is @abrkn https://t.co/KuOGnvkuJs pic.twitter.com/0IsMXQbOIU

— RideTheLightning⚡️ (@MediumSqueeze) July 10, 2018


What is Bitcoin Lightning Network?

The Lightning Network was specifically created to resolve the scalability issues of Bitcoin network. It is a second layer payment protocol deployed over Bitcoin blockchain. The protocol allows 2 nodes to perform unlimited number of transactions through the Bitcoin blockchain. When the channel is closed, the transactions are recorded on the blockchain. Instant payments, cross-chain atomic swaps, and low cost are other features offered by Lightning Network.

Lightning Network statistics

  • Nodes: 2755
  • Channels: 9159
  • Network Capacity: 72.29 BTC
  • Nodes with active channels: 2024

Brekken has so far not responded to concerns raised by the cryptocommunity.

Why is everyone concerned?

When few nodes control the technology, it becomes centralized like traditional financial systems. Furthermore, some members of the cryptocommunity believe that such hubs would eventually charge more fees citing their ability to quickly route the transactions. It should be remembered that Lightning Network is in Beta stage. So, hopefully things will get sorted out in the best interest of cryptocurrency investors.

Previous Post

US Law Makers Call Cryptocurrencies “The Future of Money”

Next Post

Kraken Trolls Coinbase, Says it is Exploring Addition of 1,600 Cryptos

Related Posts

moviedom reimagines entertainment with a decentralized vision

MovieDOM Reimagines Entertainment with a Decentralized Vision

by Kelly Cromley
May 18, 2025
0

The entertainment landscape is witnessing a major transformation with the launch of MovieDOM, a blockchain-powered platform that promises to revolutionize...

cdari and laika ai unite to strengthen web3 e-commerce

CDARI and Laika AI Unite to Strengthen Web3 E-Commerce

by Kelly Cromley
May 18, 2025
0

CDARI, a Web3 e-commerce platform operating on the AI-powered Layer 2 network Matchain, has officially announced a strategic collaboration with...

funtasy joins aptos: a new era for blockchain game launches

Funtasy Joins Aptos: A New Era for Blockchain Game Launches

by Kelly Cromley
May 18, 2025
0

The Aptos Blockchain ecosystem recently expanded with the integration of Funtasy, a fantasy gaming platform focused on streamlining blockchain game...

palmistry meets web3: sft blockchain taps ai for digital self-discovery

Palmistry Meets Web3: SFT Blockchain Taps AI for Digital Self-Discovery

by Kelly Cromley
May 18, 2025
0

In a recent announcement shared on social media platform X, the SFT Blockchain revealed a strategic alliance with PalmCode, a...

solv protocol launches yield-bearing btc token on avalanche

Solv Protocol Launches Yield-Bearing BTC Token on Avalanche

by Kelly Cromley
May 17, 2025
0

Solv Protocol has taken a major step in expanding the utility of Bitcoin by introducing a yield-generating token—SolvBTC.AVAX—on the Avalanche...

david goyer unveils web3 sci-fi universe ‘emergence’

David Goyer Unveils Web3 Sci-Fi Universe ‘Emergence’

by Kelly Cromley
May 17, 2025
0

Renowned filmmaker David Goyer, best known for his screenwriting work on the Blade trilogy, The Dark Knight, and Apple’s Foundation...

Next Post
Kraken Trolls Coinbase, Says it is Exploring Addition of 1,600 Cryptos

Kraken Trolls Coinbase, Says it is Exploring Addition of 1,600 Cryptos

  • blackrock invests in colle web3

    COLLE: Pioneering AI Web3 Platform Receives Investment Boost from BlackRock

    by Kelly Cromley
    May 13, 2024
  • Central Bank of Saudi Arabia Teams Up with Ripple to Transform Cross-Border Settlements

    by Kelly Cromley
    Aug 17, 2023
  • Router Protocol and OpenWorldSwap Partnership to Revolutionize DEX Market

    by Kelly Cromley
    Aug 6, 2024
  • GameStop’s Digital Transformation: Embracing Blockchain and NFTs

    by Kelly Cromley
    Feb 2, 2025
  • XRP Ledger Embraces Precious Metal-Backed Stablecoins with Meld Gold Partnership

    by Kelly Cromley
    Oct 2, 2024

Recent News

moviedom reimagines entertainment with a decentralized vision
Market News

MovieDOM Reimagines Entertainment with a Decentralized Vision

by Kelly Cromley
May 18, 2025
cdari and laika ai unite to strengthen web3 e-commerce
Market News

CDARI and Laika AI Unite to Strengthen Web3 E-Commerce

by Kelly Cromley
May 18, 2025
funtasy joins aptos: a new era for blockchain game launches
Market News

Funtasy Joins Aptos: A New Era for Blockchain Game Launches

by Kelly Cromley
May 18, 2025
palmistry meets web3: sft blockchain taps ai for digital self-discovery
Market News

Palmistry Meets Web3: SFT Blockchain Taps AI for Digital Self-Discovery

by Kelly Cromley
May 18, 2025
solv protocol launches yield-bearing btc token on avalanche
Market News

Solv Protocol Launches Yield-Bearing BTC Token on Avalanche

by Kelly Cromley
May 17, 2025

Categories

  • Altcoin News
  • Analysis News
  • Bitcoin News
  • Blog
  • Cardano News
  • Ethereum News
  • ICO News
  • Legislation News
  • Market News
  • News
  • Ripple News
  • Solana News

Cointrust

  • About Us
  • Contact Us
  • Correction Request
  • Our Team

Legal

  • Disclaimer
  • Terms & Conditions
  • Privacy Policy
  • Cookie Policy

Popular

  • ICO Listings
  • Knowledge Base
  • All about Mining
  • Cryptocurrency Exchanges
  • How and Where to buy Cryptocurrency

Sitemap

  • News section
  • Sitemap
  • XML Sitemap

© 2024 CoinTrust.com.

CoinTrustCoinTrust

* DISCLAIMER: All information provided in CoinTrust is merely for informational purposes, we are not an investment advisor and not affiliated with any companies or ICO/Cryptocurrency Projects. To use this website you must accept our cookie policy, Disclaimer and Privacy Policies.

No Result
View All Result
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • VPN Friendly Casinos
    • New Crypto Casinos
    • Offshore Online Casinos
    • Best Crypto Casinos Reddit
    • Bitcoin Poker
    • Bitcoin Betting Sites
    • Bitcoin Bingo

© 2024 CoinTrust.com.

We use cookies to ensure that we give you the best experience on our website.
If you continue to use this site you agree to allow us to use cookies, in accordance with our Cookie Policy.
I Agree