Do you remember receiving your first bitcoin? Seeing those satoshis arrive in your wallet is a magical, almost spiritual, experience. In that moment, the most beautiful thing about bitcoin is not its censorship resistance or pseudonymity: it’s that it works at the first time of asking. No pending account verification, no weekend processing delays, and no questions. What about Lightning bitcoin? Could it too work at the first time of asking? As Lightning Network approaches its second anniversary, I decided to find out.
Also read: Maduro Plans to Airdrop Petro to Municipal Leaders and Eligible Citizens
Bitcoin Core Needs Lightning – But Is Lightning Ready?
Multicoin Capital caused a stir last week when it predicted onchain BTC fees to hit $100 in 2020. This will be “a positive development” according to the firm’s Spencer Bogart as it will force “scaling up the stack” to Lightning Network (LN). Even if that prophecy doesn’t come to pass, and fees “only” reach $10, Lightning will be sorely needed, not least to the 3.4 billion people…