The "What is Money?" Show Core vs Knots, Lightning Network, and the Fight for Bitcoin’s Future w/ Graham Krizek
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Sep 5, 2025 Graham Krizek, CEO of Voltage and expert in Bitcoin layer two technologies, dives into the Lightning Network's evolution and its implications for Bitcoin scalability. He explores how payment channels work like bar tabs, making transactions more efficient. The conversation touches on community-building through apps like Cowbolt and the challenges of mining pool centralization. Graham highlights the balance between maintaining Bitcoin's decentralization while integrating new functionalities, emphasizing the network's role in the future of finance.
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How Lightning Scales Bitcoin
- The Lightning Network is a peer-to-peer layer-two that moves many small, fast transactions off Bitcoin's base layer.
- It preserves Bitcoin security while enabling near-instant, very low-fee payments.
Run A Node Or Use Managed Services
- Run or use a Lightning node (or node service) to manage channels and participate in routing.
- Use tools like Lightning Development Kit or managed providers to simplify node operation.
Routing Multiplies Connectivity
- Lightning routes payments through intermediate nodes, so you don't need a direct channel with every counterparty.
- Well-connected nodes (LSPs) unlock massive connectivity and efficiency for users and businesses.