The lightning desktop application is here and it will most likely lead to mass adoption of bitcoin as a currency. Part of the reason why altcoins rose in value in 2017, and took a significant portion of bitcoin’s value, was the fact that bitcoin was falling behind in transaction speeds. Many were convinced that it would never be able to function as a currency. Of course bitcoin being bitcoin, it has come out to surprise the market. It is now adopting the lightning network, which can be accessed as a desktop application. This will have two major implications on the bitcoin network.
Easy bitcoin conversion into USDT
For starters, it will entice more merchants to the bitcoin network. That’s because through this application, a person can easily convert their bitcoins into USDT, eliminating any problems that come with bitcoin fluctuations. By taming this volatility, the adoption of bitcoin as a means of payment is about to explode. If you can remember correctly, Steam the gaming company dropped bitcoin as mode of payment due to its wild price fluctuations. With the lightning network desktop applications, companies like Steam and others like it, will most likely come back into the fold.
More efficient and secure baseline technology
The lightning network desktop application will also allow bitcoin developers to focus on their core function, and that’s making bitcoin more secure and more efficient as a baseline technology. As such, you can expect the core functionalities of bitcoin to get better than those of other cryptos in the market in 2018 and beyond. In fact, there is a good chance that this could see the market capitalization of bitcoin grow, eating into the market share of the other cryptos in the market right now.
Zero transaction fees
The lighting network is also likely cut on the cost of transacting in bitcoin. It will most likely have an impact on the value of bitcoin since clients can make use of bitcoin at almost zero transaction fees, which is part of the reason why people had shifted to altcoins in the first place.
Next level for bitcoin to hit $50,000
This app is what bitcoin needed all along for it to grow to the next level. Once this app goes mainstream, you can expect the value of bitcoin to hit $50,000 and above. For anyone looking to invest in cryptos right now, bitcoin is a sure bet. The price is just at right, considering the transformative nature of the lightning network.