Hey
,
Do you know who and when was
bitc0in founded?
This email is about BTC
history,
Buckle up as we drive down the
memory lane.
It was in the year 2008, when
the world financial crisis collapsed, millions of jobs were lost, trillions of dollars vaporized, interest rates at an all time low.
The world was in a gloomy
state.
Then came a ‘man’ named Satoshi
Nakamoto wanted to prevent such event from happening again
So he created
Bitcoin.
To go hedge against the
inflation of fiat currency hoping to prevent the future 2008 financial crisis.
Fast forward to
today....
Today BTC is greatly adopted by
many investors and believers like Robert Kiyosaki.
With millions of adopters using
BTC till today, there are 2 obvious problems.
#1 Expensive transaction
fees…
#2 Slow confirmation of
transactions in the system....
(Ie. 7 transaction/sec and
highest transaction bid wins plus 10min validation waiting period)
Unlike BTC, Visa can confirm
50,000 transactions per second that incurred lower fees with almost instant confirmation.
To tackle this problem Joseph
Poon and Thaddeus Dryja introduced….
Lightning Network(LN) to the blockchain.
Designed to de-congest the
bitc0in blockchain and reduce associated transaction fees.
LN takes transactions away from
the main blockchain and making them off-chain,
Lightning networks are faster,
less costly, and more readily confirmed than those conducted directly on the bitc0in blockchain
(ie. Millions transactions/sec
that is close to zero fee instantly)
This solves the problems of
Bitc0in.
Tho there are many other
ecosystem that is more efficient, BTC is still the king.
What's their benefits to us in terms of our long term wealth and multiple sources of income creations?
Talking about
ECOSYSTEM, here's one that we all have a
chance for early adoptions and be ahead of the pack.
