Roger Ver Is “Hopefully Optimistic” for Lightning Network’s Bitcoin Scaling Solution
One of the first millionaires to come out of the Bitcoin industry, current owner of Bitcoin.com, and Bitcoin Unlimited proponent Roger Ver told Chris DeRose of the Bitcoin Uncensored podcast the other day that while he is “optimistic” about Lightning Network, the scaling solution being developed by Blockstream, he doesn’t believe that the main network should in the meantime be “hindered” in favor of something as-yet-unproven. Directly following that, DeRose’s co-host Junseth told Ver that his opinion was “nowhere near as valid” as that of Peter Todd or Adam Back or Gregory Maxwell. Two of....
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While bitcoin has run-up to all new price highs in 2020, a great number of crypto supporters have been complaining about the mempool backlog and the high fees needed to send a transaction. Meanwhile, the Lightning Network is far from seeing widespread adoption, and a number of attack vectors have been revealed this year. At the time of publication, the Bitcoin (BTC) mempool (backlog of transactions) shows 113,000+ unconfirmed transactions and the backlog hasn’t been this high since 2017. When the bull run took place three years ago, transaction fees and unconfirmed transactions shot....
The latest debate on Bitcoin scalability had Roger Ver and others arguing about whether SegWit is the right approach to expanding and scaling Bitcoin network. What’s the future of Bitcoin? That’s the question on top of the Bitcoin community members’ minds, especially with the whole scalability discussion still going on. One of the scalability solutions presented by the Bitcoin Core is SegWit. The Segregated Witness soft fork is expected to enable Lightning Network, which is already being worked upon by few developer groups. While some believe that SegWit and Lightning Network will ensure....
Lightning has seen major growth as Bitcoin’s medium of exchange scaling solution, but is still in its infancy stage as companies build on top of the protocol.
This week, the Lightning Network set a new record that demonstrates its growing popularity and utility. The post With TVL At New Record, The Lightning Network’s Time Has Come appeared first on Bitcoin Magazine.
Forget Lightning, there is an entirely different approach to Bitcoin scaling that fiat money has obscured.