LIVENudrat
@nudratitus
Crypto Writer, Trader, Analyst, Youtuber, Blockchain and Web 3.0 enthusiast
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Why the Lightning Network Failed to Fulfill Its Mission
The Lightning Network (LN) was designed to make Bitcoin transactions faster, cheaper, and more scalable. But despite its promise, LN hasn't quite delivered on those goals. Let's dive into why.
What Is the Lightning Network?
LN is a layer-2 solution built on top of Bitcoin, created to address three key issues:
1️⃣ Scalability: LN sets up a payment channel between two parties, allowing multiple transactions to occur off-chain. This reduces the load on the Bitcoin network.
2️⃣ Speed: Transactions within LN are nearly instant since only the opening and closing of a channel are recorded on the blockchain.
3️⃣ Lower Costs: Fewer on-chain transactions mean lower fees, making Bitcoin transactions cheaper.
Why Has the Lightning Network Struggled?
Despite its potential, LN suffers from several major problems:
🔒 BTC Commitment Requirement: Both parties must lock up Bitcoin while their payment channel is open. Plus, the transactions are limited to the amount of Bitcoin committed, which can be restrictive.
⚙️ Poor User Experience: LN-enabled wallets, particularly those aimed at micro-transactions, have been criticized for their poor UI/UX. Users in El Salvador, for example, have voiced dissatisfaction with LN wallets.
⚡ Griefing Attacks: While no funds are lost, these attacks freeze a victim's Lightning funds, preventing transactions within the payment channel.
🌊 Flood and Loot: Attackers overwhelm the network, forcing multiple users to claim their funds at the same time, creating congestion. This can lead to attackers stealing funds before the deadline.
⏳ Time-Dilation Attacks: Attackers delay block delivery, preventing victims from staying up-to-date with the latest transactions.
🔗 Pinning Attacks: Attackers trick users into closing their channels improperly, making it easier to steal transactions.
Conclusion
Although the Lightning Network was initially hailed as the answer to Bitcoin's limitations, its technical flaws and limited adoption have prevented it from becoming the success many hoped for.
💬 P.S.: What's your take on the Lightning Network? Let me know in the comments!
What Is the Lightning Network?
LN is a layer-2 solution built on top of Bitcoin, created to address three key issues:
1️⃣ Scalability: LN sets up a payment channel between two parties, allowing multiple transactions to occur off-chain. This reduces the load on the Bitcoin network.
2️⃣ Speed: Transactions within LN are nearly instant since only the opening and closing of a channel are recorded on the blockchain.
3️⃣ Lower Costs: Fewer on-chain transactions mean lower fees, making Bitcoin transactions cheaper.
Why Has the Lightning Network Struggled?
Despite its potential, LN suffers from several major problems:
🔒 BTC Commitment Requirement: Both parties must lock up Bitcoin while their payment channel is open. Plus, the transactions are limited to the amount of Bitcoin committed, which can be restrictive.
⚙️ Poor User Experience: LN-enabled wallets, particularly those aimed at micro-transactions, have been criticized for their poor UI/UX. Users in El Salvador, for example, have voiced dissatisfaction with LN wallets.
⚡ Griefing Attacks: While no funds are lost, these attacks freeze a victim's Lightning funds, preventing transactions within the payment channel.
🌊 Flood and Loot: Attackers overwhelm the network, forcing multiple users to claim their funds at the same time, creating congestion. This can lead to attackers stealing funds before the deadline.
⏳ Time-Dilation Attacks: Attackers delay block delivery, preventing victims from staying up-to-date with the latest transactions.
🔗 Pinning Attacks: Attackers trick users into closing their channels improperly, making it easier to steal transactions.
Conclusion
Although the Lightning Network was initially hailed as the answer to Bitcoin's limitations, its technical flaws and limited adoption have prevented it from becoming the success many hoped for.
💬 P.S.: What's your take on the Lightning Network? Let me know in the comments!
Yesterday, Nike dropped a major update: its Web3 platform, .SWOOSH, is taking a new direction after launching two years ago.
Nike’s .SWOOSH is shifting from NFTs to focus on gaming, partnering with major platforms to offer exclusive in-game wearables and Nike products.
Kicking off with a TEKKEN 8 tournament, .SWOOSH is set to become the go-to place for Nike gaming experiences and events.
Let’s break it down: 👇
So far, 389,568 SWOOSH IDs have been minted on Polygon since November 2022.
But here’s the twist: Earlier this year, Nike laid off 1,600 employees (2% of its workforce), including parts of the team behind Nike Virtual Studios, which oversaw .SWOOSH.
Why the shift?
Nike’s NFT venture didn’t hit the mark.
Despite bringing in $3M, it pales in comparison to Nike's $50B in 2023 revenue. Plus, engagement was lacking.
The bigger picture: Nike's pivot is part of a larger trend where brands are rethinking their digital strategies for better returns and customer engagement.
Instead of NFTs, Nike is doubling down on gaming partnerships to create in-game experiences and exclusive wearables.
Key takeaway: Gaming is the next big thing.
70% of Fortnite players buy outfits for their avatars
56% of Gen Z Roblox users care more about their avatars' style than their own
Are NFTs dead for brands?
Probably, at least for now.
Remember when every brand was hopping on the NFT bandwagon? Those days seem to be on pause for now.
Nike’s .SWOOSH is shifting from NFTs to focus on gaming, partnering with major platforms to offer exclusive in-game wearables and Nike products.
Kicking off with a TEKKEN 8 tournament, .SWOOSH is set to become the go-to place for Nike gaming experiences and events.
Let’s break it down: 👇
So far, 389,568 SWOOSH IDs have been minted on Polygon since November 2022.
But here’s the twist: Earlier this year, Nike laid off 1,600 employees (2% of its workforce), including parts of the team behind Nike Virtual Studios, which oversaw .SWOOSH.
Why the shift?
Nike’s NFT venture didn’t hit the mark.
Despite bringing in $3M, it pales in comparison to Nike's $50B in 2023 revenue. Plus, engagement was lacking.
The bigger picture: Nike's pivot is part of a larger trend where brands are rethinking their digital strategies for better returns and customer engagement.
Instead of NFTs, Nike is doubling down on gaming partnerships to create in-game experiences and exclusive wearables.
Key takeaway: Gaming is the next big thing.
70% of Fortnite players buy outfits for their avatars
56% of Gen Z Roblox users care more about their avatars' style than their own
Are NFTs dead for brands?
Probably, at least for now.
Remember when every brand was hopping on the NFT bandwagon? Those days seem to be on pause for now.
🚀 $APES is gearing up for takeoff! 🦧
No room for doubt here. Every test of the support zone is a STRONG BUY SIGNAL! 💹
The team's target? 200M Market Cap – and they're on track to achieve it.
For us, that's a potential 10X-15X return if you jump in right now! 💸
Evening news might just launch this price to the moon 🌕. Don't be left regretting it – weak hands will miss out! 😏
#Apes #Token2049
No room for doubt here. Every test of the support zone is a STRONG BUY SIGNAL! 💹
The team's target? 200M Market Cap – and they're on track to achieve it.
For us, that's a potential 10X-15X return if you jump in right now! 💸
Evening news might just launch this price to the moon 🌕. Don't be left regretting it – weak hands will miss out! 😏
#Apes #Token2049
Could Injective Be the Next Solana Killer? $INJ
While the DeFi sector has hit a few bumps, Injective has been a standout performer. Its Total Value Locked (TVL) skyrocketed by 450% in just two months this year. 📈
And if that wasn’t impressive enough, Injective also facilitated the first-ever tokenized index for BlackRock’s BUIDL Fund earlier this month.
Here’s why we’re bullish on Injective:
Continuously evolving and updating its tech 💡Super low fees: 3,000+ transactions for just $1. Solid tokenomics Developer-friendly, making it easier to build on than any other platform 🛠️
Injective’s momentum is hard to ignore—could it be the next big competitor to Solana?
While the DeFi sector has hit a few bumps, Injective has been a standout performer. Its Total Value Locked (TVL) skyrocketed by 450% in just two months this year. 📈
And if that wasn’t impressive enough, Injective also facilitated the first-ever tokenized index for BlackRock’s BUIDL Fund earlier this month.
Here’s why we’re bullish on Injective:
Continuously evolving and updating its tech 💡Super low fees: 3,000+ transactions for just $1. Solid tokenomics Developer-friendly, making it easier to build on than any other platform 🛠️
Injective’s momentum is hard to ignore—could it be the next big competitor to Solana?
Binance Set to Launch 'MoonBix' Play-to-Earn Game on Telegram Mini-App!
Big news for gaming and crypto fans! Binance is gearing up to launch MoonBix, a brand-new play-to-earn game, right on Telegram’s Mini-App platform. 🎮💰
With MoonBix, you’ll be able to earn rewards while gaming, bringing the play-to-earn model directly to your fingertips. This could be a game-changer for both crypto adoption and mobile gaming. 🌕✨
Stay tuned, gamers and crypto enthusiasts – this is one adventure you don’t want to miss! 🔥
Read more here 👉 [Binance's MoonBix on Telegram](https://cryptoslate.com/binance-to-launch-moonbix-play-to-earn-game-on-telegram-mini-app/)
#moonbix #p2egaming
Big news for gaming and crypto fans! Binance is gearing up to launch MoonBix, a brand-new play-to-earn game, right on Telegram’s Mini-App platform. 🎮💰
With MoonBix, you’ll be able to earn rewards while gaming, bringing the play-to-earn model directly to your fingertips. This could be a game-changer for both crypto adoption and mobile gaming. 🌕✨
Stay tuned, gamers and crypto enthusiasts – this is one adventure you don’t want to miss! 🔥
Read more here 👉 [Binance's MoonBix on Telegram](https://cryptoslate.com/binance-to-launch-moonbix-play-to-earn-game-on-telegram-mini-app/)
#moonbix #p2egaming
BHUTAN HAS QUIETLY MINED 13,000+ $BTC 💥
Did you know Bhutan is mining Bitcoin like a pro? Here are some fun facts about this tiny kingdom:
- Bhutan prioritizes Gross Domestic Happiness over GDP (which is ~$3.11B).
- With a population of 780k (less than San Francisco), it's one of the happiest countries on Earth.
- And guess what? It holds the 5th highest $BTC reserves of any country in the world—yes, even more than El Salvador!
Here’s the wild part: Bhutan has been quietly mining Bitcoin using its hydropower resources to amass $780M in BTC, now equal to 25% of its GDP!
To break it down, Bhutan’s Bitcoin stash is worth $1,000 per citizen. 🤯
But wait—let’s reframe this. Instead of exporting energy via traditional infrastructure, Bhutan is selling its energy digitally by mining Bitcoin on-site. They’ve built a crypto nest egg that could match, or even surpass their GDP if Bitcoin hits $250K!
The takeaway? Bhutan has redefined what it means to export energy in the digital age. 💡
Did you know Bhutan is mining Bitcoin like a pro? Here are some fun facts about this tiny kingdom:
- Bhutan prioritizes Gross Domestic Happiness over GDP (which is ~$3.11B).
- With a population of 780k (less than San Francisco), it's one of the happiest countries on Earth.
- And guess what? It holds the 5th highest $BTC reserves of any country in the world—yes, even more than El Salvador!
Here’s the wild part: Bhutan has been quietly mining Bitcoin using its hydropower resources to amass $780M in BTC, now equal to 25% of its GDP!
To break it down, Bhutan’s Bitcoin stash is worth $1,000 per citizen. 🤯
But wait—let’s reframe this. Instead of exporting energy via traditional infrastructure, Bhutan is selling its energy digitally by mining Bitcoin on-site. They’ve built a crypto nest egg that could match, or even surpass their GDP if Bitcoin hits $250K!
The takeaway? Bhutan has redefined what it means to export energy in the digital age. 💡
Swift Makes a Bold Bet on Crypto!
Swift is opening the doors to digital currencies, allowing 11,000+ banks across 20+ countries to soon transact with crypto via its global network.
This move is setting the stage for tokenized assets to become part of mainstream finance. Here’s what it brings to the table:
1. Access: Regulated digital assets now available for transactions on Swift’s secure global network.
2. Innovation: Enables seamless token transfers across multiple networks and protocols.
3. Key Integrations: CBDCs and tokenized money are gearing up to merge with traditional finance (TradFi).
This is a game-changing moment for the future of crypto and digital finance.
What do you think about Swift’s move? Could this be the turning point for the future of payments? 💬
Swift is opening the doors to digital currencies, allowing 11,000+ banks across 20+ countries to soon transact with crypto via its global network.
This move is setting the stage for tokenized assets to become part of mainstream finance. Here’s what it brings to the table:
1. Access: Regulated digital assets now available for transactions on Swift’s secure global network.
2. Innovation: Enables seamless token transfers across multiple networks and protocols.
3. Key Integrations: CBDCs and tokenized money are gearing up to merge with traditional finance (TradFi).
This is a game-changing moment for the future of crypto and digital finance.
What do you think about Swift’s move? Could this be the turning point for the future of payments? 💬
MicroStrategy's Infinite Bitcoin Play: How Michael Saylor Mastered the 'Infinite Money Glitch
Michael Saylor is like that kid who kept his Pokémon cards in mint condition—spotting value early when no one else did.
Since MicroStrategy ($MSTR) started its ‘Bitcoin Strategy’ in August 2020 (aka buying as much $BTC as possible), its market cap has skyrocketed 20x. 🤯
Now, Saylor's back at it again, planning to sell $700M worth of convertible notes (loans that can turn into discounted $MSTR shares) – likely to buy even more Bitcoin.
But why does this strategy work? 🤔
Here’s the magic behind it:
MicroStrategy borrows money and issues convertible notes to load up on Bitcoin. On its debt, it pays 1.7644% interest annually, and on the notes, just 0.875%.
Right now, its total debt, including convertible notes, is $3.9B. The yearly interest on this debt, even at the highest rate, would be around $68M.
“Cool, but what’s the point?”
Glad you asked! Here’s where it gets interesting:
MicroStrategy isn't just a Bitcoin treasury – it’s also a legit software company with revenue. Last quarter, it earned $80.5M in gross profit, meaning it can easily cover its debt payments. 💸
Meanwhile, the company's Bitcoin stash benefits from price appreciation. With Bitcoin up 12.2% YTD on $MSTR's holdings and showing an average 45% return over the past 5 years, the numbers start to look mind-blowing.
If Bitcoin’s historical return rate continues, MicroStrategy could see a compounded 43.23% return per year after covering its debt.
(Infinite money hack, anyone? 💸)
"But why buy $MSTR for Bitcoin exposure when I can just buy $BTC?" – You, probably.
Holding $MSTR comes with perks like regulatory clarity and – crucially – price performance.
During bear markets, $MSTR’s value mirrors its Bitcoin holdings. But in bull markets, its value is usually higher than its Bitcoin assets alone. 👇
Right now, when MicroStrategy buys $1B in Bitcoin, its market cap tends to jump $2B (assuming Bitcoin’s price stays flat). By the same token, every $1 increase in Bitcoin should add $2 to $MSTR’s market cap. (But it can work both ways in a dip).
It’s not a perfect science, but you get the picture.
The real question is: How high will MicroStrategy’s premium soar when we enter the Banana Zone? 🍌
Since MicroStrategy ($MSTR) started its ‘Bitcoin Strategy’ in August 2020 (aka buying as much $BTC as possible), its market cap has skyrocketed 20x. 🤯
Now, Saylor's back at it again, planning to sell $700M worth of convertible notes (loans that can turn into discounted $MSTR shares) – likely to buy even more Bitcoin.
But why does this strategy work? 🤔
Here’s the magic behind it:
MicroStrategy borrows money and issues convertible notes to load up on Bitcoin. On its debt, it pays 1.7644% interest annually, and on the notes, just 0.875%.
Right now, its total debt, including convertible notes, is $3.9B. The yearly interest on this debt, even at the highest rate, would be around $68M.
“Cool, but what’s the point?”
Glad you asked! Here’s where it gets interesting:
MicroStrategy isn't just a Bitcoin treasury – it’s also a legit software company with revenue. Last quarter, it earned $80.5M in gross profit, meaning it can easily cover its debt payments. 💸
Meanwhile, the company's Bitcoin stash benefits from price appreciation. With Bitcoin up 12.2% YTD on $MSTR's holdings and showing an average 45% return over the past 5 years, the numbers start to look mind-blowing.
If Bitcoin’s historical return rate continues, MicroStrategy could see a compounded 43.23% return per year after covering its debt.
(Infinite money hack, anyone? 💸)
"But why buy $MSTR for Bitcoin exposure when I can just buy $BTC?" – You, probably.
Holding $MSTR comes with perks like regulatory clarity and – crucially – price performance.
During bear markets, $MSTR’s value mirrors its Bitcoin holdings. But in bull markets, its value is usually higher than its Bitcoin assets alone. 👇
Right now, when MicroStrategy buys $1B in Bitcoin, its market cap tends to jump $2B (assuming Bitcoin’s price stays flat). By the same token, every $1 increase in Bitcoin should add $2 to $MSTR’s market cap. (But it can work both ways in a dip).
It’s not a perfect science, but you get the picture.
The real question is: How high will MicroStrategy’s premium soar when we enter the Banana Zone? 🍌
Crypto is the future of finance—especially DeFi. Yet, people only seem to remember this when DeFi tokens are rallying. Luckily, they’ve been on the rise, with AAVE leading the charge.
AAVE is the second-largest DeFi protocol by total value locked, and for good reason. It allows users to borrow and lend crypto peer-to-peer without the need for KYC or a credit score, all while offering free market-driven interest rates.
Big investors have taken notice of the growing fees Aave has been accumulating, and they’re starting to load up on AAVE tokens. But this is just the beginning—there’s much more to come in the DeFi space. Keep watching! 👀
AAVE is the second-largest DeFi protocol by total value locked, and for good reason. It allows users to borrow and lend crypto peer-to-peer without the need for KYC or a credit score, all while offering free market-driven interest rates.
Big investors have taken notice of the growing fees Aave has been accumulating, and they’re starting to load up on AAVE tokens. But this is just the beginning—there’s much more to come in the DeFi space. Keep watching! 👀
Sony’s Yen Stablecoin 💴 🇯🇵
Sony is making big moves in the blockchain world through its partnership with Startale Labs, working on the launch of the Soneium blockchain network and the development of a stablecoin pegged to the Japanese yen.
The project is currently in the experimental phase, ensuring full compliance with Japan's legal and regulatory standards.
Sony Bank aims to meet legal requirements while offering cost-effective transactions via this stablecoin.
The stable yen token could be applied across various industries, such as gaming and sports, leveraging Sony’s vast intellectual property.
Sony is making big moves in the blockchain world through its partnership with Startale Labs, working on the launch of the Soneium blockchain network and the development of a stablecoin pegged to the Japanese yen.
The project is currently in the experimental phase, ensuring full compliance with Japan's legal and regulatory standards.
Sony Bank aims to meet legal requirements while offering cost-effective transactions via this stablecoin.
The stable yen token could be applied across various industries, such as gaming and sports, leveraging Sony’s vast intellectual property.
