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Network Insights

The Arteries of the Bitcoin Ecosystem: An Empirical Analysis of the Lightning Network’s Routing Efficiency and Topology

The Bitcoin network, as the bedrock of the cryptocurrency revolution, offers unparalleled security and decentralization for value transfers. However, its inherent scaling limitations, particularly the restricted transaction capacity of the base layer (around 7 transactions per second), have spurred the development of off-chain scaling solutions. The Bitcoin Lightning Network (LN) stands as the most prominent…

Cambridge Bitcoin Electricity Index: How Much Power the Bitcoin Network Really Uses

The Cambridge Bitcoin Electricity Consumption Index (CBECI), developed by the Cambridge Centre for Alternative Finance (CCAF), offers a real-time estimate of the total electricity consumption of the Bitcoin network. This tool is instrumental in understanding the environmental impact of Bitcoin mining, which relies on energy-intensive proof-of-work algorithms. Understanding the CBECI Methodology The CBECI estimates Bitcoin’s…

How Bitcoin Hashrate Records Are Making the Network More Secure Than Ever

Bitcoin’s network has been hitting historic milestones lately, with its hashrate — the total computing power securing the blockchain — reaching all-time highs. But why does this matter, and how exactly does it make Bitcoin more secure than ever before? The hashrate measures how many calculations per second are being made by miners around the…