The traditional banking system settlement process is a complex and intricate system used by banks, financial institutions, and other entities to facilitate the transfer of money and other assets between parties. It involves several steps, beginning with creating an account for each party involved in the transaction. The bank or financial institution must approve each […]
LNURL is a new standard designed to make it easy for Lightning Network users to receive payments. It also has the potential to remove the need for custodial services and provide better inbound liquidity. It provides an easy-to-use, streamlined user experience that does not require running extra infrastructure. LNURL also supports generating unique offers that […]
In the early days of the internet, media access was a slow and cumbersome process. You had to wait for a website to load, and then you could only access the content that was on that website. If you wanted to watch a video, you had to download it first and then hope that it […]
A Bitcoin Hashed TimeLock Contract (HTLC) is a smart contract that allows two parties to securely send and receive payments in Bitcoin or other cryptocurrencies. The sender locks up an amount of cryptocurrency in an HTLC, which can only be released by the receiver if they provide a valid cryptographic hash. If the receiver does […]
A Bitcoin zero-confirmation transaction is a transaction that has been broadcast to the network but has not yet been confirmed by a miner. When you send a Bitcoin transaction, there’s always a chance that it may not be confirmed by the network. This can be due to some reasons, such as low network capacity or […]
Bitcoin channel factories are a type of Bitcoin-based payment system that uses the lightning network to route payments. Channel factories are similar to traditional Bitcoin exchanges, but they are designed to be more efficient and scalable. Bitcoin channel factories use a novel routing algorithm that helps to reduce the amount of traffic on the network […]
Turbo channels or zero-conf channels are Lightning channels that are accepted without confirmations on the bitcoin blockchain. This requires trust in the party opening the channel to not double-spend the channel opening transaction. What are Turbo Channels and their trade-offs Turbo channels are an excellent option for a specific use case, but they should be […]
In the Bitcoin world, there are two types of fees that you can charge for transactions that go through your node on the Lightning Network. These are the base fee and the fee-based on liquidity used. You can also charge a negative fee, which is when you actually pay someone to use your node! How […]
The potential of Bitcoin to revolutionize global payments is something that has been talked about for years. But the realization of this potential hinges on one key factor: scaling solutions that can make it possible for large numbers of transactions to be processed efficiently and reliably. Despite the technical, economic and political challenges associated with […]
Blockchain is the race to Mars in search of scalable solutions. Bitcoin processes seven transactions per second. On average, 400 transactions per minute, while Visa processes between 1000 and 4000 transactions per second. Unfortunately, Bitcoin’s chances in that race have been limited by scalability until now. Meet the Lightning Network, which has made the battle […]
Raoul Pal, a former Goldman Sachs manager, believes that BTC will be worth $1 million in three years, as outlined in his Global Macro Investor guide. With so many factors now like COVID-19, it doesn’t seem like Bitcoin block size and blocks weight matters. Wrong. Block size and weight control how many transactions can go through and […]
The world of cryptocurrency has grown by leaps and bounds during the past few years; however, few people know where Bitcoin came from and how the Lightning Network plays a role today. For those who want to get the most out of cryptocurrency and Bitcoin, it is vital to be familiar with the Lightning Network, […]
