Welcome, Guest: Join Nairaland / LOGIN! / Trending / Recent / New
Stats: 2,658,677 members, 6,241,412 topics. Date: Wednesday, 14 April 2021 at 08:28 AM

Bitcoin Network: Cryptocurrency Could Finally Become Day-to-day Currency - Business - Nairaland

Nairaland Forum / Nairaland / General / Business / Bitcoin Network: Cryptocurrency Could Finally Become Day-to-day Currency (41 Views)

Cola War In Nigeria - The Series (Day 1 to Day 17) / Sam & Steve Nico Williams Biography, Twins Invent Cryptocurrency PPT, Net Worth / Tips To Make Money From Affiliate Marketing From Day To Day (2) (3) (4)

(1) (Reply)

Bitcoin Network: Cryptocurrency Could Finally Become Day-to-day Currency by Litmus: 6:26pm On Apr 08
We are seeing genuine adoption of this amazing technology,’ says CTO of crypto exchange

A network aimed at transforming bitcoin into a mainstream form of payment has doubled in size over the last year, new data has revealed.

The Lightning Network – an additional layer added to bitcoin’s network to facilitate transactions – now has more than 10,000 nodes after major cryptocurrency exchanges and payment apps adopted the technology.
Bitcoin was originally conceived as a new form of currency, having been described as a “peer-to-peer electronic cash system” in the 2008 white paper written by the pseudonymous Satoshi Nakamoto.

However limitations to bitcoin’s underlying blockchain have led to significant inefficiencies within the network for processing transactions.

The bitcoin scalability problem, as it is known, means that the more the bitcoin network grows, the more cumbersome it becomes. Each new user makes it increasingly time consuming and costly to send and receive payments, to the point that buying something small like a coffee can come with a fee that is higher than the cost of the drink itself.

Read more:https://www.independent.co.uk/life-style/gadgets-and-tech/bitcoin-lightning-network-cryptocurrency-b1827816.html

(1) (Reply)

We Can Animate Your Still Logo To Be Share On Social. Media / Get An Online Store Created For Your Business On Whatsapp / Classicxhange: Buys Gift Cards, Bitcoin, Paypal And Cashapp Funds

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2021 Oluwaseun Osewa. All rights reserved. See How To Advertise. 24
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.