Unchained Unconfirmed: Why It Doesn’t Make Sense to Compare Lightning to DeFi - Ep.279
Oct 8, 2021
Ryan Gentry, Director of Business Development at Lightning Labs, dives into the exciting world of the Lightning Network, a layer 2 solution for Bitcoin. He highlights partnerships with major platforms like Twitter and Substack that are expanding Bitcoin's reach. Gentry discusses El Salvador's pivotal role in adoption and how its legalization of Bitcoin is shaping transactions. He also elaborates on why comparing Lightning to DeFi makes little sense, focusing on their distinct purposes and the unique innovations Lightning offers for micropayments.
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El Salvador's Bitcoin Adoption
- El Salvador's adoption of Bitcoin as legal tender demonstrates Lightning Network's stability.
- Despite initial challenges, the launch has been largely successful, enabling everyday transactions.
Lightning Network Growth
- Lightning Network capacity has grown due to a flywheel effect of adoption.
- Developers create apps, attracting users, increasing volume, and incentivizing more development.
Lightning vs. DeFi
- Comparing Lightning Network's total value locked with DeFi is inaccurate.
- Lightning is a full-reserve system focused on payments, not lending or trading like DeFi.
