Around the Block from Coinbase Ventures sheds light on key trends in crypto. Written by Connor Dempsey & Sam Newman
In the 13 years of its existence, Bitcoin has risen from obscurity to $1 trillion highs, settling over $60 trillion in total transfer volume along the way.
Despite these feats, Bitcoin’s decentralized design limits it to a mere 7 transactions per second. In times when demand to use the network exceeds 7 transactions, users experience long wait times and fees as high as $60 per transaction at the extreme. Even with fees recently hovering between $1–2, the network remains unsuitable for buying that proverbial cup of coffee.
Enter the Lightning Network: a layer-2 protocol built on top of Bitcoin that can theoretically scale to millions of instant ..
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