2 years ago
Understanding however the net protocol was built utilizing layers tin assistance overgarment a representation of the Bitcoin web and however it tin make successful a akin fashion.
This is simply a transcribed excerpt of the “Bitcoin Magazine Podcast,” hosted by P and Q. In this episode, they are joined by Nate of Voltage to speech astir however the Lightning Network tin transportation worth instantly betwixt 2 parties without having to impact an intermediary. The Lightning Network volition let the Bitcoin web to standard exponentially into the payments world.
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Q: What does “Layer 2” mean? Could we equate it and springiness examples backmost to the existent net infrastructure and however we interact with that to marque it digestible? I recovered that mentation is astir helpful.
Nate: So the net is decentralized information. Bitcoin is decentralized money. When the net was archetypal being enactment unneurotic by geniuses 40-50 years ago, they [engineers] were conscionable excited to walk bits and bytes to antithetic assemblage campuses. None of them had immoderate thought of euphony streaming, video streaming, what we're doing close now, nary of that was possible.
Different protocol layers had to beryllium built connected the net connected the TCP/IP protocol. I'm not an adept connected it, but what we're doing close present is interacting with 5 oregon six layers of that basal net protocol. That increases things similar throughput, bandwidth and quality, each that benignant of stuff.
So the net is this layered barroom that you tin visualize. You could Google “internet protocol layers,” and I'm beauteous definite there’s immoderate chill graphics for that. And Bitcoin is lone a small implicit 12 years aged present oregon something? Layer 1 is great. It's precise secure. It's immutable, censorship resistant, each these truly chill features. But the throughput has a occupation if you enforce planetary concern connected apical of it.
Layer 2 is this thought wherever you could bash bitcoin transactions without having to capable the blocks oregon jam up the pipes of the basal layer. We could inactive person that information apparatus successful a way, but besides get the instant colony and finality without having to interact with that [base layer]. Lightning Network is 1 connection of that block.
Blockstream has thing called the Liquid Network wherever you fundamentally conscionable transportation bitcoin disconnected of the Bitcoin basal furniture — you're not really doing that, but that helps you visualize it. Lightning is similar, but antithetic due to the fact that Lightning has this benignant of node gossip web system. It's conscionable astir taking the aforesaid conception that worked for the net and applying it to this caller wealth due to the fact that bitcoin is the wealth of the internet, but it's besides the net of wealth successful that respect.
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