What is the Bitcoin Lightnig network and why does it exist? - Crypto in Plain English - Episode 185 - by cryptohunt.it
Crypto in Plain English - by cryptohunt.it13 Kesä 2022

What is the Bitcoin Lightnig network and why does it exist? - Crypto in Plain English - Episode 185 - by cryptohunt.it

What is the Bitcoin Lightnig network and why does it exist?

Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english.

By now, you’ve heard many times over that Bitcoin, the original blockchain, struggles with various problems, such as low transaction volumes, expensive transactions, and a tremendous negative impact on the environment.

And that’s why the Lightning Network was invented. It is a separate fast lane, trying to make Bitcoin more usable. If you think about it, it makes sense: Why invent all these hundreds of other blockchains when you can just fix Bitcoin’s problems?

So, let’s take a quick look at how it works. The lightning network essentially keeps transactions off the main record of the Bitcoin blockchain, and hence it doesn’t need to process them.

Say you are at a birthday party and someone bought a gift. They are collecting money from everyone. In the traditional Bitcoin world, everyone would have to leave, go to the bank, and send the person the money. They can then confirm the money has arrived and a few days later, you could finally gift the present.

In the Lightning network world, you would simply give them cash at the party, maybe even exchange something for smaller bills with another person. In the end, only the person who bought the gift would have to go to the bank.

And this is taking off by storm. Thanks to Jack Dorsey’s Cash App alone, there are already 80m people on the Lightnig network. Definitely one to keep an eye on.

Disclaimer: This podcast references our opinion and is for information purposes only. It is not intended to be investment advice. Do your own research and seek a duly licensed professional for investment advice.

Jaksot(373)

What is a bank run, actually? And is that really what killed FTX? - Episode 317 - by cryptohunt.it

What is a bank run, actually? And is that really what killed FTX? - Episode 317 - by cryptohunt.it

What is a bank run, actually? And is that really what killed FTX? Welcome to the Cryptohunt Jam, where we spend one minute a day explaining crypto. In plain English - and this is another special to ex...

16 Joulu 20223min

Should I use crypto to send money internationally? - Episode 316 - by cryptohunt.it

Should I use crypto to send money internationally? - Episode 316 - by cryptohunt.it

Should I use crypto to send money internationally? Welcome to the Cryptohunt Jam, where we spend one minute a day explaining crypto. In plain English - so that you can form your own opinions to be saf...

15 Joulu 20222min

What does SBF’s arrest mean for crypto? - Episode 315 - by cryptohunt.it

What does SBF’s arrest mean for crypto? - Episode 315 - by cryptohunt.it

What does SBF’s arrest mean for crypto? Welcome to the Cryptohunt Jam, where we spend one minute a day explaining crypto. In plain English - and this is another special on FTX. So: Sam Bankman-Fried g...

14 Joulu 20223min

Sam Bankman-Fried was just arrested - Bonus Episode 314 - by cryptohunt.it

Sam Bankman-Fried was just arrested - Bonus Episode 314 - by cryptohunt.it

Sam Bankman-Fried was just arrested - Welcome to a special bonus extra Episode We usually just do one episode per day of the Cryptohunt Jam, where we spend one minute a day explaining crypto. In plain...

13 Joulu 20222min

What is “Proof of Time” (PoT)? - Episode 313 - by cryptohunt.it

What is “Proof of Time” (PoT)? - Episode 313 - by cryptohunt.it

What is “Proof of Time” (PoT)? Welcome to the Cryptohunt Jam, where we spend one minute a day explaining crypto. In plain English - so that you can form your own opinions to be safer out there in the ...

13 Joulu 20222min

Just how big if the “FTX Domino Effect”? - Episode 312 - by cryptohunt.it

Just how big if the “FTX Domino Effect”? - Episode 312 - by cryptohunt.it

Just how big if the “FTX Domino Effect”? Welcome to the Cryptohunt Jam, where we spend one minute a day explaining crypto. In plain English - so that you can form your own opinions to be safer out the...

12 Joulu 20223min

An Update on Ukraine and Crypto - Episode 311 - by cryptohunt.it

An Update on Ukraine and Crypto - Episode 311 - by cryptohunt.it

An Update on Ukraine and Crypto Welcome to the Cryptohunt Jam, where we spend one minute a day explaining crypto. In plain English. When the war against Ukraine broke out, we shared stories about cryp...

9 Joulu 20222min

What if you got paid for surfing the web? An explanation of BAT (Basic Attention Token) - Episode 310 - by cryptohunt.it

What if you got paid for surfing the web? An explanation of BAT (Basic Attention Token) - Episode 310 - by cryptohunt.it

What if you got paid for surfing the web? An explanation of BAT (Basic Attention Token) Welcome to the Cryptohunt Jam, where we spend one minute a day explaining crypto. In plain English. Today, we'll...

8 Joulu 20222min

Suosittua kategoriassa Liike-elämä ja talous

sijotuskasti
mimmit-sijoittaa
psykopodiaa-podcast
rss-rahapodi
rss-sisalto-kuntoon
rss-rahamania
ostan-asuntoja-podcast
herrasmieshakkerit
rahapuhetta
sijoituspodi
rss-lahtijat
rss-karon-grilli
oppimisen-psykologia
lakicast
rss-startup-ministerio
rss-bisnesta-bebeja
rss-paasipodi
rss-yrittajan-mindset
rss-viisas-raha-podi
rss-draivi