Bolt-A-Thon: World’s First Online Lightning Network Conference and Hackathon
▻https://hackernoon.com/bolt-a-thon-worlds-first-online-lightning-network-conference-and-hackath
wwww.boltathon.comThe Lightning Network was built around the idea of financial inclusivity. Anyone can make a purchase and should be able to do so pseudonymously. What if conferences and #hackathons were structured around these same core principles? As the world’s first online Lightning Network conference and hackathon, that’s exactly what the Bolt-A-Thon was designed to be. By hosting the event online, Bolt-A-Thon reaches a world-wide community, sets incredibly affordable ticket prices, and process all payments into Lightning #bitcoin.HackathonThe first part of the Bolt-A-Thon is for our hackers. They hackathon will start on April 5 with the kick off at 6pm PST and runs through April 7 at 2pm PST. Hackers will be provided a suggested theme and will have two and a half days to build their (...)
]]>What is the Lightning Network?
▻https://hackernoon.com/what-is-the-lightning-network-496c4e636350?source=rss----3a8144eabfe3---
Bitcoin’s Lightning Network visualized according to the geolocation of nodes by ▻https://explorer.acinq.co.Bitcoin’s #blockchain suffers from a scalability problem.While Visa handles 2000 transactions per second on average, #bitcoin can only handle only 7 transactions per second with a block capacity of 1 MB.Bitcoin’s Lightning Network is an effort to tackle this scalability problem.A Layer on top of the Bitcoin BlockchainThe idea behind the Lightning Network is that smaller, everyday transactions need not be stored on the main Bitcoin blockchain.The Lightning Network is a second layer built on top of the main blockchain. It enables faster micro-transactions using ‘off-chain payment channels’. Using this off-chain approach, transactions deemed less important or peripheral are conducted off of (...)
]]>The #blockchain #scalability Problem & the Race for Visa-Like Transaction Speed
▻https://hackernoon.com/the-blockchain-scalability-problem-the-race-for-visa-like-transaction-sp
Yes, blockchain has a scalability problem. Here’s what it is, and here’s what people are doing to solve it.The battle for a scalable solution is the blockchain’s moon race. #bitcoin processes 4.6 transactions per second. Visa does around 1,700 transactions per second on average (based on a calculation derived from the official claim of over 150 million transactions per day). The potential for adoption is there but is bottlenecked currently by scalability.A study published by Tata Communications in 2018 showed that 44% of organizations in its survey are adopting blockchain, but also alludes to the universal problems that arise from deploying new technologies. From an architectural level, the unsolved problem of scalability is emerging as a bottleneck to blockchain adoption and practical (...)
]]>Getting started with the Liquid Network
▻https://hackernoon.com/getting-started-with-the-liquid-network-c87e2cb5996b?source=rss----3a814
Get started running a Liquid node, transferring to the sidechain, claiming L-BTC, and issuing assets!Intro:The Liquid Network is a #bitcoin sidechain that facilitates quick and private transactions. A sidechain is a separate blockchain with different features than its base chain but is pegged to it in order to utilize the main chain’s native currency. The 2-way peg in Liquid is 1:1 to Bitcoin, so for every bitcoin you peg into the network, you unlock or create 1 Liquid Bitcoin (L-BTC for short). Liquid provides fast settlement with short 1-minute blocks and privacy through technology called Confidential Transactions. Peg-ins basically just require you to send BTC to a multisignature address that is controlled by members of what’s called a Strong Federation. Peg-outs (transferring back on (...)
#cryptocurrency #liquid-network #lightning-network #sidechains
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