September 12, 2022
Why should you care about Lightning Network, how does it work and how to use it? We’ll answer these and many other questions in this guide.
The article written by Tony⚡️.
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Lightning Network is a decentralized system for instant micro payments. Bitcoin, the world’s most widely used and valued cryptocurrency, allows anyone to transfer value without the need for a trusted third party. Bitcoin supports an advanced scripting system that allows users to program instructions for managing their funds. However, Bitcoin’s design has a number of drawbacks. It can take an hour, and often more, from the time a transaction is made on the Bitcoin blockchain to the moment that transaction gets finalized.
...September 13, 2019
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This essay by Dhruv Bansal was published in Unchained blog.
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The desire to travel far away and start a new currency will become a powerful driver of human expansion into space.
Earth will run on bitcoin, but colonies on Mars, the outer planets, and distant stars will not. Though faraway colonies will value and trade bitcoin, they will choose to launch, defend and use their own local blockchains. This pattern of replication is an inevitable consequence of hyperbitcoinization and the physical limitations inherent to any blockchain that respects the finite speed of light.
...January 16, 2024
With repeated bumps of the popularity of monkey JPEGs on the Bitcoin blockchain and in anticipation of the upcoming bull market, onchain fees are a thing to consider in the upcoming future.
Fees in the network can reach hundreds of sats per virtual byte, and this is far from the limit. Source.
Lightning Network provides a solution to the painful problem of high fees, but you need to act thoughtfully, without rushing. That’s why today I suggest to analyze the best available Lightning wallets and evaluate the pros and cons of each wallet, so that you can choose the best solution and finally forget about high fees (or at least minimize the stress).
...September 3, 2022
More experienced users know, that nowadays you can send satoshis directly to Lightning Address in user@domain format. But how exactly does this work?
In this short article I would like to explain it to those who do not know it. At the same time, I will describe the basics of Lightning invoices and LNURL-pay protocol.
This article by @heisenberg was published on stacker.news website.
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Lightning invoices basics
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Lightning Invoices are nowadays the standard for sending and receiving funds on the Lightning Network. If you want to receive some satoshis, you have to generate an invoice on your node/wallet. An invoice is nothing more than a text string (which starts with lnbc…) and contains, among other things, the recipient ID and the amount. There is actually more information but we won’t go into that now. The invoice is most often shared using a QR code, which is nothing more than an image representation of the string described earlier.
...December 9, 2020
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This essay by Dhruv Bansal was published in Unchained blog.
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This is Part II in a series of speculations about the hyperbitcoinized future. In Part I, we defined the First Law of Bitcoin Astronomy and described how it incentivizes searching for energy to power our growing civilization.
In this part, we continue to follow the energy and speculate about how money and society coevolve as humanity expands through space. We begin with a brief review of Part I.
...March 8, 2021
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This essay by Dhruv Bansal was published in Unchained blog.
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This is Part III in a series of speculations about the hyperbitcoinized future. In Part I, we defined the First Law of Bitcoin Astronomy and described how it leads to new blockchains as humanity expands through the solar system. In Part II, we described a Second Law which leads to nested blockchains the size of solar systems and beyond, hashing vast energies on cosmic timescales.
...August 23, 2019
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This article by Parker Lewis was first published in Unchained blog.
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