Gondlir Notes on Internet Censorship resistant lighting economy

💡Lightning Up the Internet: Economic Activity Around Bitcoin's Lightning Network

The development of the Lightning Network has brought a new level of scalability to Bitcoin that is fueling greater economic activity. Here are some key aspects of this growing second layer solution:

💰Microtransactions Made Easy

• Lightning allows for near-instant, low-fee transactions making bitcoin useful forthings liketipping content creators, gamingmicropayments and recurring subscriptions.

🏧Payment Channels

• Bidirectional payment channels allow users/businesses to transact privately off-chain as needed and then settle on Bitcoin blockchain periodically.

⚡Nodes and Liquidity

• Anyone can run a Lightning node and provide liquidity by opening channels. Node operators earn fees paid in bitcoin as routing payments.

📈Increased Usability

• Wallet apps now support Lightning, removing friction for merchant adoption. Services can easily accept bitcoin and watch revenue stream in without block confirmation delays.

🚀Growing Adoption

• Major exchanges/wallets adding Lightning support. More merchants integrating everyday. Economic activity, channels and node counts all rising fast!

The future is looking bright as mainstream use cases emerge to take bitcoin to the next level through scalable off-chain solutions. Exciting times ahead! 🤩