The King of Understanding Buys a Burger
In addition to the Federal Reserve's announcement of a 50 basis point rate cut, another event directly related to the cryptocurrency circle occurred on September 19. Trump held an event at PubKey, a cryptocurrency-themed bar in Manhattan, New York. During the event, he used Bitcoin to pay and treated supporters present to burgers and Coke.
Trump's use of Bitcoin to pay in the bar is widely considered to be another landmark event after buying pizza with Bitcoin. The most notable thing is that the Strike payment application used by Trump is built on the Lightning Network. This payment cost about $950 in Bitcoin. Trump also mentioned in the bar event that if he wins the election in November, he will immediately stop any work on the Federal Reserve's central bank digital currency and promise to make the United States the "global capital of cryptocurrency and Bitcoin."
Although it is not difficult to see that Trump's behavior is mainly an effort to win votes from cryptocurrency holders, it is still not difficult to see how cryptocurrency is infiltrating American political life, and that the campaign teams of both parties have to pay more attention to cryptocurrency. Cryptocurrency has the possibility of moving to a bigger stage.
Behind the successful purchase of Burger King
Strike is a payment tool built on the Bitcoin Lightning Network, designed to provide a fast and low-cost Bitcoin transaction experience. It allows users to make daily payments and receive payments through Bitcoin while maintaining the security and decentralization of the Bitcoin network. The above ideas are mainly realized by using Bitcoin's Lightning Network technology, which enables fast and low-cost Bitcoin transfers by opening payment channels. It is suitable for daily small transactions and allows users to use it easily even if they are not familiar with cryptocurrency. Of course, based on the Lightning Network technology, cross-border payments can be supported and are not restricted by the traditional banking system. Because the use of Lightning Network technology does not have to worry about high handling fees, it can be used in a variety of scenarios such as online shopping, personal transfers, and corporate payments. It is precisely because of these characteristics brought by the Lightning Network that the Lightning Network has become a platform for educating users to understand Bitcoin and promote the popularization and application of cryptocurrency.
The general principle of the Lightning Network is to establish a two-way payment channel between users. Through this channel, both parties can conduct countless transactions without recording every transaction on the blockchain. Transaction information will only be recorded on the blockchain when the channel is opened and closed. Of course, not all users must establish a channel. When there is no direct payment channel between two users, they can route payments through other users' channels to achieve indirect payments. In this way, the Lightning Network can achieve fast, low-cost, and support very small transactions.
More than just burgers
It can be seen that using the Lightning Network to buy hamburgers is a bit of an overkill. Of course, the Lightning Network is not omnipotent. Smart friends have been able to find some problems with it. Since it is a payment channel, it will inevitably face the problem of liquidity management. It is necessary to manage the liquidity in the channel to ensure that users can make normal payments. In this process, the establishment and maintenance of the channel are relatively complex and require certain technical knowledge. This makes capacity a shackle that restricts the further development of the Lightning Network. In addition, the traditional Bitcoin Lightning Network only supports Bitcoin, which is not enough in today's dazzling currency circle.
Fiber Network, referred to as FNC, is the next generation lightning network based on the Nervos network. It not only has a series of characteristics of the traditional lightning network, but also supports BTC native assets, CKB and RGB++ native assets, and all UTXO chain assets based on the flexible advantages of the underlying Nervos itself. It further solves the problem of lightning network channel management through the combination with DePIN. FNC makes the lightning network not only be used to buy hamburgers, but also to do DePIN, liquidity mining, lending, cross-chain DEX, GameFi, and other infinite directions you can think of and can't think of.
