“Therefore, privacy in an open society requires anonymous transaction systems. Until now, cash has been the primary such system. An anonymous transaction system is not a secret transaction system. An anonymous system empowers individuals to reveal their identity when desired and only when desired; this is the essence of privacy.”
Eric Hughes, A Cypherpunk’s Manifesto
In July 2021, a large “Ring of Fire” was created with the help of 65 participating nodes and 65,000,000 sats liquidity. The project was driven by a community of developers, designers, video editors, and team leaders who all came together to make the Ring of Fire a reality. This article explains what a Ring of Fire is, its benefits, and how one can create their own.
We have already aired 5 episodes of our new season of Connect the World. Since the first episode featuring Ross Savage from Satimoto, we have covered a variety of subjects related to the Lightning Network. During our conversation with Ross, we discussed how to charge your car with electricity and pay for it in Bitcoin over the Lightning Network. This development is particularly useful when traveling across borders as it avoids the need to pay exchange rates on traditional fiat currency. Additionally, it helps fight the “Bitcoin is bad for the environment” narrative. This episode is a must-watch, thanks to Ross himself.
The Lightning Network is a second-layer payment protocol built on top of the Bitcoin blockchain. Its purpose is to enable fast, low-cost, and scalable transactions for users. The Lightning Network operates as a decentralized network of payment channels between users, allowing them to transact directly with each other without having to go through the slow and expensive process of confirming each transaction on the blockchain.
Earlier this year, a unique custodial Bitcoin service allowing the storage, sending and receiving of bitcoin satoshis via the LN emerged.
And you do not need an internet connection.
BL3P is the European Lightning-enabled bitcoin exchange of Bitonic, the oldest Bitcoin company in the Netherlands.
Bitonic is a Bitcoin only-company and has been on the forefront of Dutch
and European Bitcoin adoption since it’s inception in 2012. The company
started out of a desire to offer an easy, fast and reliable way to buy and
sell bitcoin in the Netherlands.