Bitcoin has the potential to become the world's first dedicated digital currency

Bitcoin has faced many challenges before, but the free market seems to be recreating new solutions to these challenges. Bitcoin is king. Bitcoin is still the best asset in our lives. She quelled some of her harshest criticisms and continued to grow in terms of adoption, profitability, and profit. It's amazing that Bitcoin has done all of this in just 12 years. However, since the birth of the Bitcoin blockchainThe real problem is this: speed.

As Bitcoin has risen to fame and thousands of banks, retailers, investors, and even across the country have joined the Bitcoin ecosystem, we are facing and going through more and more frightening issues. However, despite the rise of altcoins and the difficult scalability that Bitcoin faces, Bitcoin continues to improve its success and will inevitably become a major digital advantage in the global marketplace.What to do? - With Lightning (Latest network).

Bitcoin's scalability challenge

Unless blockchain networks can be measured to meet the needs of the global digital market, there is no prospect of large-scale adoption. There are many robustness measures, but the most commonly used is for export (commercial single or TPS). For example, Visa's payment network can process up to 24,000 transactions per second, but in reality it only needs to process up to 1,700 transactions per second. In comparison, Bitcoin trades 4 to 5 transactions per second. In other words, Bitcoin is slow. Bitcoin's latency has led to an increase in altcoins. For example, Cardano, Nano, and Solana all claim more money than Bitcoin.

Many Bitcoin users will argue that speed is not Bitcoin's ultimate goal, but its primary goal is to preserve value and prevent inflation. It is undeniable that it is necessary to buy time to avoid the financial crisis which has ravaged countries like Venezuela, Zimbabwe, Argentina and Iran. However, Bitcoin purists never doubt that Bitcoin should follow Satoshi Nakamoto's first view of peer-to-peer electronic income in his free Bitcoin article.

So how does Bitcoin achieve this vision? Is this a global currency and exchange, not a stock market?

A Bitcoin Cash hard fork is a scalable solution.Adjusting the block size can cause many changes at once.. Sister tab,Bitcoin Money is still running at just 116 small exchanges per second.(He also failed the stress in the adoption test).

The Lightning Network works by moving the capabilities of the primary Bitcoin blockchain to a secondary payment platform. Since Bitcoin's scalability issue stems from all transactions having to be reported to the entire network and including the lower Bitcoin blockchain, using the Lightning Network, both organizations can create one. Immediate payment for payment is no problem. Exchanges are only signaled to the entire chain when the channel is open or closed. The real claim of Lightning is that you don't have to create a channel with anyone to chat. The network knows how to get money from sender to payer through the existing channel. Assuming Alice and Bob have chains, Bob and Charlie also have chains, and Alice can pay Charlie through her friend Bob. So, 4.5 changes per second can add up to millions.

Now, we can believe in the Satoshi effect observed for the first time.Bitcoin is now proven to be a digital currency that can be used in everyday life around the world.Lightning Network adoption has increased, reaching 13,000 nodes and a total of $ 60 million in Bitcoin locks, making Bitcoin a major solution in El Salvador, Vietnam, the Philippines and many other interested countries. summer. .Now that Twitter is examining the platform's platform implementation, Lightning Network appears to be gaining traction among the major players..

Despite the growing use and popularity of the Lightning Network,There are other issues that must be overcome in order for Bitcoin to become the world of digital currency.Since Nixon took the dollar off the gold standard in 1971, the dollar has been in a state of inflation and is now losing nearly 4% of its annual value. Of course, the appreciation of all fiat currencies is an exception, but the rise of digital currencies like Bitcoin provides other unprotected currencies for fiat currency failure.

One room controls everything

With the rise of the Lightning Network, Bitcoin will complement Satoshi Nakamoto's legacy as a value chain and payment provider.We can see many reasons why Bitcoin has relied on itself as a huge asset. It is usually the first cryptocurrency that newcomers to the crypto space get. It is the best known, most respected and most owned cryptocurrency in the world. Additionally, almost all of the middleman exchanges, DEXs, and like any DeFi platform you can find, use Bitcoin as their global exchange. With the help of fast and high speed overlay networks like lightning,Bitcoin has the potential to become the global currency of the future..