Michael Saylor is one of the biggest proponents of bitcoin. What is he planning in 2023?
What is the Lightning network?
The Lightning network is built on top of Bitcoin as a so-called "second layer". It increases the speed of Bitcoin transactions to one million transactions per second. By comparison, Visa, the world's leading digital payments provider, claims to be able to process around 65,000 transactions per second. Fees on the Lightning network are also very low. Often, only fractions of a cent are charged per transaction. However, the network is still quite young and has yet to prove its resistance to attacks and some problems.
Second Layer - Lightning could become useful for many companies
Michael Saylor has not only continued to add to his Bitcoin holdings in recent weeks, he also has big development steps in mind for the implementation of Bitcoin in the business world. For example, he is currently working on enabling businesses to integrate the Bitcoin lightning system into their own processes more quickly. According to him, in the future it should be possible for companies to integrate the Lightning payment system into the business operations of the interested company within an afternoon.
In addition, he plans to make Internet sites more secure with the help of the Lightning system. For example, it would be possible to create a paywall for websites that would pay the user back at the end. The whole thing could run in the background and would make D-Dos attacks or other bot intrusions increasingly difficult. Because if such an attack is detected, the money of this user can be withheld. For the normal user of the site, however, this would not change anything. He pays e.g. 1€ when visiting the website, which he gets credited again after leaving the website. The user doesn't even notice that his Euro transaction has been converted to Lightning (BTC). Many site operators have already wished for such a function, but classic payment service providers have had too high transaction costs here so far. The Lightning network could revolutionize this!
To drive these processes forward, the current CEO of MicroStrategy will even give up his post. He will thus fully take care of the company's Bitcoin projects from 2023.
From our point of view, Bitcoin visionary Saylor's plans sound very good. It would be very important for the Bitcoin's adaptation to find more and more uses in the real economy. Therefore, we hope that the projects will progress well and find many interested parties.
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Source citation
Good research requires good source information. Transparency is very important to us, so below most posts on this blog you will find the sources that contributed to the article: - https://www.wiwo.de/finanzen/geldanlage/bitcoin-lightning-network-endlich-vollgas-wie-der-bitcoin-transaktionen-beschleunigen-will/28807704.html
- https://www.btc-echo.de/schlagzeilen/microstrategy-diese-plaene-hat-michael-saylor-mit-bitcoin-lightning-156951/
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