1/ Some super interesting #LightningNetwork trends @bitrefill lately...
Emerging markets, not the US or Europe, have been leading the way in lightning adoption.
For example, 92% of all payments coming to us from El Salvador are riding lightning rails this month...
Emerging markets, not the US or Europe, have been leading the way in lightning adoption.
For example, 92% of all payments coming to us from El Salvador are riding lightning rails this month...
2/ The El Salvador growth is likely due to @Bitcoinbeach and @ln_strike's direct efforts there however, and so we have to concede that the growth has been nurtured along more there.
What's more impressive to me are Brazil and Nigeria's 39% and 33% lightning payment shares...
What's more impressive to me are Brazil and Nigeria's 39% and 33% lightning payment shares...
3/ For Brazil, many users are coming to us through @bluewalletio's integration after having been taught by the @bitcoinheiros community there. This is highly organic growth and is really encouraging to see.
bluewallet.io/marketplace/
bluewallet.io/marketplace/
4/ For Nigeria, about half of these lightning payments are attributed to @BundleAfrica's integration with us whereby their users are spending NGN currency through Bundle and Bundle is converting/sending lightning to us behind the scenes.
5/ South Africa, Ghana, and Venezuela also have impressive shares of lightning payments (above the US), and again this is all the more impressive to me because as far as I know this is highly organic in nature.
6/ So why are emerging markets opting for lightning before places like the US and Europe?
I believe it is the fee-less, instant, and mobile-friendly nature of lightning that is drawing people in.
I believe it is the fee-less, instant, and mobile-friendly nature of lightning that is drawing people in.
7/ Lightning payments at Bitrefill have the LOWEST median transaction size out of all payment methods at a mere $13.
In fact, a quarter of our lightning payments are $2 or less, usually by someone quickly purchasing minutes or data for their phone.
In fact, a quarter of our lightning payments are $2 or less, usually by someone quickly purchasing minutes or data for their phone.
8/ on-chain BTC, ETH and USDT on the other hand have median transaction sizes several multiples higher than Lightning, and as a result the customers using these on-chain payments are less fee-sensitive and by observation are coming more from desktop environments.
9/ Lightning payments still make up a smallish amount of our overall volume, but the increase of small, frequent lightning payments in high growth markets suggests that lighting's mindshare is increasing in the places where payment utility matters most.
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