El Salvador recently passed legislation to make Bitcoin legal tender currency. Is this the “shot heard ‘round the world for Bitcoin” as Strike CEO Jack Mallers stated? Will other countries take the Bitcoin plunge? If so, how to overcome the slow and costly transaction issues of Bitcoin? That’s where the Lightning Network comes in, the potential solution to making Bitcoin transactions fast, cheap and efficient.
In episode 24 of the Crypto for Newborns podcast, find out what motivated El Salvador to embrace Bitcoin, how the Lighting Network is facilitating that change and making heads or tails of what’s next for Bitcoin as a worldwide currency!
Resources:
Article: In a world first, El Salvador makes bitcoin legal tender
Article: World Bank declines to help El Salvador adopt bitcoin, citing environmental and transparency concerns
World Bank – Wikipedia
Lightning Network definition
Strike website
Article: Strike Drives Bitcoin Forward as El Salvador Becomes World’s First Country to Adopt Bitcoin as Legal Tender
Article: Strike Launches Bitcoin Lightning Payment App in El Salvador; Full EU Support Is Next
Article: Will Other Countries Follow El Salvador Into Making Bitcoin A Legal Tender?
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