Exploring the world of bitcoin lightning
On top of the Bitcoin network, Bitcoin Lightning is a second layer payment system. By facilitating transactions using off-chain channels rather than requiring each transaction to be confirmed by the entire network, it enables faster, less expensive, and more private transactions.
MicroStrategy’s Bitcoin Journey
A strong supporter of Bitcoin is the publicly traded business analytics and mobile software company MicroStrategy. MicroStrategy recently announced it was looking to hire a software engineer to construct a Lightning Network-based software-as-a-service platform as part of its ongoing effort to strengthen its Lightning Network-versed team.
Saylor discussed how CMOs may leverage the Lightning Network to attract customer by rewarding them with satoshi’s for undertaking tasks like leaving positive reviews or finishing surveys during the Twitter Spaces discussion.
Additionally, he said, the business intends to enable any enterprise to “spin up” Lightning infrastructure in an “afternoon.”
MicroStrategy’s to offer bitcoin lightning solutions
In a recent announcement, MicroStrategy stated that it would start providing Bitcoin Lightning solutions to its clients in 2023. The CEO of MicroStrategy brought up his “Lightning wall” cybersecurity concept once more. This concept is essentially a Bitcoin-based paywall that would shield websites from cyber attacks by asking visitors to make a deposit in Satoshi.
Saylor claimed that in order to “ensure” safe passage, users of sensitive corporate websites would need to deposit “100,000 satoshi,” which would be quickly reimbursed after the user had ended their visit. He said that due to the time delays involved in receiving money back, credit cards could not provide this service. He said: “The problem with credit cards is that you couldn’t reasonably post $20 to 100 websites each day and then you get the $20 back in one second, could you?
Saylor predicts that the Lightning version of the “Netscape browser”—which he predicts will include something like a “Lightning wallet” that stores fiat money and a variety of cryptocurrencies—will be developed in due course. According to him, if this wallet is developed in a non-custodial manner, it may potentially reach 100 million users.
Most recently, a brand-new variety of BTC addresses was unveiled. Instead of the 10-minute average for conventional Bitcoin transactions, Lightning Addresses enable users to conduct transactions virtually quickly over the Lightning Network.
The choice of MicroStrategy to provide Bitcoin Lightning solutions is a huge step forward for the cryptocurrency market. It demonstrates that there is a rising need for effective and affordable Bitcoin payment options, and that businesses like MicroStrategy are working to satisfy that need. This would encourage more businesses to accept Bitcoin as a form of payment, which would encourage wider adoption and wide acceptance of the cryptocurrency.