More Than 2.2M Users Have Downloaded El Salvador's Chivo Wallet
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More Than 2.2M Users Have Downloaded El Salvador's Chivo Wallet

Created 2yr ago, last updated 2yr ago

The country's president released statistics on the wallet usage this week.

More Than 2.2M Users Have Downloaded El Salvador's Chivo Wallet

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El Salvador's President Nayib Bukele has shared statistics relating to the usage of the government's official Chivo wallet.

According to a dashboard, more than 2.25 million users have now downloaded the app after the country offered an incentive of $30 in Bitcoin.

The statistics also suggest that the system is processing an average of 65,437 transactions per second, and all but one of the 200 Chivo ATMs rolled out are currently active.

Meanwhile, the data goes on to reveal that more than 100,000 people per day are consistently signing up for an account.

Today marks three weeks since El Salvador began to accept Bitcoin as legal tender, putting the cryptocurrency on par with the U.S. dollar.

It's been something of a bumpy ride. Protests have taken place in the country's capital — and in one case, a Bitcoin ATM was set on fire.

The Chivo wallet was also beset with technical problems that meant new users were forbidden from registering, and the issues took several days to fix.

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Lightning Network Shines

All of this comes as new data indicates that the number of Lightning Network nodes in operation has now surged to record levels.

The layer-two solution sits on top of the Bitcoin blockchain, allowing transactions to take place off chain. As well as making the network more scalable, this can also help to lower costs.

According to Glassnode, there are now 15,600 Lightning Network nodes — an all-time high. By contrast, approximately 6,000 nodes were functioning by the end of August.

Total capacity in Lightning Network channels has also risen 170% year to date to 2,904 BTC — and Glassnode says 514 of these coins were added in September alone.

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