In fact, you all know that I've predicted that Bitcoin could eventually reach $100,000.
That's, in part, because once the "Lightning fix" that's now in beta testing gets deployed, Bitcoin's original promise as a quicker, cheaper, and more secure daily payment mechanism will quickly become a reality.
And now we have news that another update to this "fix" has been completed...
"Lightning" Grows Legs
I'm talking, of course, about San Francisco-based startup Lightning Labs and its Lightning Network Daemon (LND) platform.
This so-called "Layer 2" blockchain development is designed to operate on top of Bitcoin's blockchain and the blockchains of other crypto coins, like Litecoin, to add much-needed scalability, interoperability, and functionality.
Think of the Lightning fix as sort of like moving from a rabbit-ears TV antenna to cable.
On Tuesday, Lightning Labs Chief Technology Officer Olaoluwa Osuntokun announced via Twitter that the upgrade to the LND beta version was good to go.
Now, any glance under the hood to see exactly what's been improved here gets real technical, real quick. So, here's what you need to know...
The Lightning Labs team's upgrade improves reliability and stability and fixes several bugs. It also shows that progress toward full implementation of the LND is nearing.
When Lightning goes live, instead of having to stow money in a bank to pay your bills - and worry about hacks, fraud, and all the other shenanigans that can upend your financial well-being - Bitcoin owners will be able to transact directly over the internet (using a smartphone, for example).
And they'll be able to do so more or less instantly, on a peer-to-peer basis. In other words, you'll be able to buy a pizza - or even shop on Amazon - with Bitcoin.
Plus, the whole payments process promises to be more secure. That's thanks to Bitcoin's decentralized transaction ledger and near immutability. Changing or manipulating past Bitcoin transactions is extremely difficult and prohibitively expensive to carry out.
To date, not one hacker has been able to mount such an attack on Bitcoin's blockchain.
This novel approach to creating a scarce - like there's only so much gold in the ground, only so many Bitcoins can be mined - but usable digital store of value will send Bitcoin's price through the roof.
Read more at www.stockhouse.com/companies/bullboard/...#l0zZJPABGILoRmMJ.99
Zurück
