Bitcoin adoption on the rise in Africa: A discussion on the Lightning Network and mining technology – BitTalk #1

The primary episode of the “Bit Speak” podcast discusses current developments on the earth of Bitcoin. Hosted by Akiba and James from CryptoSlate in addition to Bitcoin pioneer Nick from Mercury Pockets, the podcast is a bite-sized, easy-to-consume bi-weekly overview of the Bitcoin community.

This episode begins with the adoption of Bitcoin in Africa, with increasingly more folks utilizing the lightning community. The lightning community is a second-layer fee protocol that operates on prime of the Bitcoin blockchain, permitting for sooner and cheaper transactions.

The hosts additionally talk about the state of Bitcoin mining, mentioning that some miners are struggling as a result of bear market and the rising issue of mining. The bear market refers back to the decline within the value of Bitcoin over the previous few years, which has made it tougher for miners to show a revenue.

The podcast additionally features a phase known as “Bitcoin Climate” with James from CryptoSlate. On this phase, James supplies a quick overview of the present state of the Bitcoin market, together with current value actions and key developments. This phase supplies listeners with a fast and concise abstract of a very powerful on-chain occasions within the Bitcoin world.

The hosts additionally point out that there have been improvements in mining know-how, comparable to using various power sources and residential mining. Prior to now, most Bitcoin mining was accomplished by giant industrial farms, however now there’s a push for extra decentralized and sustainable strategies of mining. For instance, some corporations want to use stranded power sources, comparable to biomass, to energy their mining operations. This not solely reduces the carbon footprint of mining but additionally makes it extra accessible to people who could not have entry to low cost electrical energy.

The hosts conclude by discussing the way forward for Bitcoin and the potential for it to develop into extra mainstream. They point out that Bitcoin nonetheless faces challenges by way of regulation and public notion, however they’re hopeful that these points might be resolved over time. Additionally they point out that the continued growth of the lightning community and different applied sciences will play a key function in making Bitcoin extra accessible and user-friendly.

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