Lightning Network's is a good way to reduce the transaction costs and time of Bitcoin network validation. Must be widely applied to be able to use bitcoin for everyday transactions!

I had been hoping this lighting would never come. I think it will work on the long run.

According to https://1ml.com/statistics Lightning Network's mainnet has reached:

84.15 BTC capacity ($688,750.62)
2,955 nodes
10,786 channels

2,217 public nodes
2,080 nodes with active channels
336 channels opened in 24h
116 channels closed in 24h

0.008 BTC average channel capacity ($63.86)
0.040 BTC average node capacity ($331.13)
10.37 average channels per node

110.1 days average node age
67.3 days average channel age
1.000000 sat median base fee ($0.000081853)

Countdown to 1 million active channels: 989,214

According to https://1ml.com/statistics Lightning Network's mainnet has reached:

97.52 BTC capacity ($743,041.19)
2,983 nodes
10,960 channels

2,237 public nodes
2,090 nodes with active channels
142 channels opened in 24h
130 channels closed in 24h

0.009 BTC average channel capacity ($67.80)
0.047 BTC average node capacity ($355.52)
10.49 average channels per node

111.3 days average node age
67.5 days average channel age
1.000000 sat median base fee ($0.000076190)

Countdown to 1 million active channels: 989,040

That is completely right. i'm still wondering why this hasn't been implemented! it would make massive changes.

According to https://1ml.com/statistics Lightning Network's mainnet has reached:

96.50 BTC capacity ($737,742.28)
2,991 nodes
10,948 channels

2,239 public nodes
2,097 nodes with active channels
147 channels opened in 24h
152 channels closed in 24h

0.009 BTC average channel capacity ($67.39)
0.046 BTC average node capacity ($351.81)
10.44 average channels per node

111.7 days average node age
68.0 days average channel age
1.000000 sat median base fee ($0.000076451)

Countdown to 1 million active channels: 989,052

Did the capacity drop? If I recall correctly there used to be 119 BTC or something like that, or maybe the info I received was wrong. Also, can someone inform me why one million active channels is a big deal? I honestly am "technically challenged" when it comes to the lightning network lol. Its my understanding that payment channels are funded lightning wallets that can transact between one another? And then when you send a transaction it works through a web of these payment channels to find a path to the receiver? Is it that one million channels would have a massive combination of possible "routes"? I am genuinely curious, this is something I see a lot and don't fully understand.

Thanks!

You are absolutely right, the capacity was 118 BTC on July 27 and fell then to 77 BTC

The number of active channels can very roughly indicate the number of network users.

And you understand everything correctly. This is how the Lightning network works with one refinement: payment channels are funded by bitcoin addresses.

According to Lightning Network Info mainnet has reached:

97.57 BTC capacity ($688,267.99)
3,020 nodes
11,260 channels

Countdown to 1 million active channels: 988,740

According to Lightning Network Info mainnet has reached:

97.29 BTC capacity ($686,738.87)
3,046 nodes
11,276 channels

Countdown to 1 million active channels: 988,724