"A channel is 1 onchain UTXO but it represents the funds of 2 people. The 2 outputs are off-chain. If a block has 2k tx then each block can on-board 4k people. Multi-party channels could have more off-chain outputs: thousands. That would mean a block could on-board 4 million users"

https://twitter.com/alexbosworth/status/1106572269076148224 via /r/Bitcoin http://bit.ly/2Y3uynC