Bitcoin 
Ethereum 
Tether 
XRP 
BNB 
Solana 
Dogecoin 
USDC 
Lido Staked Ether 
Cardano 
TRON 
Avalanche 
Chainlink 
Toncoin 
Wrapped stETH 
Wrapped Bitcoin 
Shiba Inu 
Sui 
Stellar 
Polkadot 
Hedera 
WETH 
Bitcoin Cash 
LEO Token 
Hyperliquid 
Uniswap 
Litecoin 
Pepe 
Wrapped eETH 
NEAR Protocol 
Ethena USDe 
Bitget Token 
USDS 
Aptos 
Aave 
Internet Computer 
Cronos 
POL (ex-MATIC) 
Mantle 
Ethereum Classic 
VeChain 
Render 
Monero 
WhiteBIT Coin 
MANTRA 
Dai 
Bittensor 
Artificial Superintelligence Alliance 
Arbitrum 
Ethena 
Strong Network is Required to Grow Bitcoin – Elon Musk
Elon Musk has weighed in on the Bitcoin (BTC, +1.25% ) scaling controversy on Twitter, claiming that the layer two payments Lightning Network is “necessary” for the time being.
“Layer count is determined by anticipated bandwidth and computation, both of which are fast increasing, which means a single layer network [e.g., Bitcoin alone] can transport all human transactions in the future IMHO,” Tesla CEO Elon Musk wrote on Twitter on Friday. However, until then, he argues, Lightning will be required to supply the required bandwidth.
The Lightning Network is a layer above the Bitcoin blockchain that allows users to create their channels for sending and receiving payments, allowing for faster and cheaper transactions. Musk has also been reacting to a Twitter discussion over bitcoin’s energy consumption, which was cited as the cause for Tesla’s recent U-turn on using bitcoin as a payment option.
As one solution, he advocated that the top ten mining companies conduct audits of the amount of renewable energy they use in their operations.
Stay informed with daily updates from Blockchain Magazine on Google News. Click here to follow us and mark as favorite: [Blockchain Magazine on Google News].
Get Blockchain Insights In Inbox
Stay ahead of the curve with expert analysis and market updates.
latest from tech
Disclaimer: Any post shared by a third-party agency are sponsored and Blockchain Magazine has no views on any such posts. The views and opinions expressed in this post are those of the clients and do not necessarily reflect the official policy or position of Blockchain Magazine. The information provided in this post is for informational purposes only and should not be considered as financial, investment, or professional advice. Blockchain Magazine does not endorse or promote any specific products, services, or companies mentioned in this posts. Readers are encouraged to conduct their own research and consult with a qualified professional before making any financial decisions.
About the Author: Editor
