The Lightning Network is arguably the most anticipated scaling solution for Bitcoin to date. Why isn’t everyone using it?
“Speaking of Bitcoin” hosts Adam B. Levine, Andreas M. Antonopoulos and Stephanie Murphy are joined by Rene Pickhardt, Bitcoin and Lightning Network Developer. The four lead a conversation on the still in development yet rapidly growing Lightning Network. It’s a second-layer network that enables fast, secure, private and inexpensive payments that don’t make sense to store on bitcoin’s base layer. But while that might sound ideal, it’s not simple in practice. A scrappy community of companies and developers have been pushing the tech consistently forward as the number of hard problems still to solve ticks down.
Even as early as we are, Lightning has proven to be a radical improvement on the user experience of bitcoin. On the bitcoin network, fees vary but typically range from $1–5 and complete with confirmation in an average of ten minutes. With Lightning, fees and transaction times drop dramatically: the transaction fees are generally 1/100th or 1/10th of a penny and take just seconds.
If the improvements of Lightning are clear, why isn’t everyone using it today? Listen to hear more about the challenges and solutions coming to this rapidly-evolving aspect of bitcoin.
Additional reading:Album art created using AI by Adam Levine/Pixelmind.ai
--- Send in a voice message: https://podcasters.spotify.com/pod/show/originalltb/messageSOB #451 - Is This The AOL Moment?
SOB #450 - Let's Talk About Transaction Fees!
Update 12/6/2020
SOB Update Nov 14
SOB #449 Scary Stories of Cryptoween Live Special
Halloween Livestream Today 10am P/ 1pm E
Upcoming Halloween Livestream Show
SOB #448 Where Does Bitcoin Fit in the Global Reserve Currency Game?
SOB #447 Signal, Noise and the Coming Era of AI Curation
2 Minute Update from The Original Let's Talk Bitcoin Show
SOB #446 The 51% Attack Nightmare Scenario (Isn't That Bad)
SoB #445 How Does Kraken's New Crypto Bank Work?
New Episodes Releasing as "Speaking of Bitcoin" for a while
OLTB #444 - The Remedy to ICOs w/ Kevin Owocki
OLTB 443 Improving Privacy on the Bitcoin Blockchain
OLTB 442 Lessons From Zimbabwe's Latest Hyperinflation
LTB E441 Paypal, Banks and Real Life Infrastructure Inversion
LTB! E440 Bitcoin, Decentralization and the Twitpocolypse
Let's Talk Bitcoin! Update July 2020
LTB #439 Bitcoin Only Matters Because Money Is Rigged
Create your
podcast in
minutes
It is Free
Insight Story: Tech Trends Unpacked
Zero-Shot
Fast Forward by Tomorrow Unlocked: Tech past, tech future
The Unbelivable Truth - Series 1 - 26 including specials and pilot
A Prairie Home Companion: News from Lake Wobegon