"I think too many people in those early years interpreted “e-cash” to mean quick-and-easy payments for everyday goods using the base layer, when a better way to think of cash today is as a private censorship-resistant final settlement transaction method. Physical cash, after all, is not necessarily the easiest payment type, or a medium of exchange that we need to use for everything, but it’s the most private and the hardest to prevent from occurring." - Lyn Alden

The full, uninterrupted reading of Lyn Alden's incredible piece detailing the philosophy of engineering that informed the layered approach, how the lightning network works, what the future of the lightning network may hold, and answering some common criticisms of the Lightning protocol. If you haven't heard or read this one, it is not to be missed. Enjoy.

Check out the original article plus the incredible library of material authored by Lyn on her blog below: https://www.lynalden.com/lightning-network/#layers

Check out our amazing sponsors and the products that Guy uses most in the space:

• The best place to onboard a true Bitcoiner - Stack sats automatically, withdraw automatically, and learn or get help from the best team of Bitcoiners out there with Swan Bitcoin. (swanbitcoin.com/guy)

COME HANG OUT! Join us and the Swan Bitcoin team at the Pacific Bitcoin Conference in November! Get your tickets now, 10% off with code BITOCINAUDIBLE (https://www.pacificbitcoin.com/)

• Gets sats back every time you dump fiat at a store, to pay your bills, everything in your fiat life pays you sats with the Fold Debit Card and FoldApp. 20% OFF with code BITCOINAUDIBLE (guyswann.com/fold)

• Dive into the Bitcoin only wallet, the cypherpunk calculator, and a company that has built secure Bitcoin products for nearly a decade. Code BITCOINAUDIBLE gets 5% off everything in the store! Coinkite.com

Learn more about your ad choices. Visit megaphone.fm/adchoices

---

Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message