Bitcoin is the original actual cryptocurrency, significantly transformed our perspective on digital funds. People are really into faster, cheaper, and better transactions, and Extra features of Bitcoin represent the latest prominent trend.
1. Making Bitcoin faster and able to handle more transactions at once.
2. Keeping your transactions secret.
3. Making different blockchains talk to each other.
5. Making it easy and fun to use.
These undertakings are akin to putting additional layers on the fundamental Bitcoin level to enhance it and accelerate it. Therefore, let us explore the top five desires for the further enhancements of Bitcoin.
1. Making Bitcoin faster and able to handle more transactions at once.
Bitcoin faces challenges with how many transactions it can process at the same time. Bitcoin can only do a few transactions every second due to the small size of its blocks.
Projects such as Lightning Network and RSK Network help by making special channels that enable you to make transactions extremely fast and inexpensive without utilizing the primary network. Chainalysis says the Lightning Network alone processed over 1. 7 billion dollars last year, showing how it contributes to making Bitcoin faster.
2. Keeping your transactions secret.
People have been worried about their privacy on Bitcoin because everyone can view the transactions. Tools such as Tornado Cash attempt to conceal your money by shuffling it so it is impossible to discern its origin or destination. According to Cambridge University users have employed Tornado Cash across 10,000 transactions, indicating its popularity among those concerned with privacy.
3. Making different blockchains talk to each other.
It’s extremely crucial for different blockchains to interact with each other. Projects such as Liquid Network and OMNI Layer facilitate transactions between various blockchains conduct transactions smoothly with one another.
By letting blockchains do transactions together, these systems aid in the expansion of the entire cryptocurrency ecosystem. According to Coin Metrics Liquid Network has done more than one million transactions, indicating its proficiency in Connecting various blockchains work together.
4. Keeping your money safe.
Safety is a top priority in crypto, and these Bitcoin layers are striving to ensure the safety of your money. Instruments such as OMNI Layer and RSK Network utilize unique smart contracts and secure wallets requiring multi-factor authentication to safeguard your funds. According to Chainalysis that RSK Network has done more than half a million transactions and no funds stolen, indicating its high level of security.
5. Making it easy and fun to use.
Finally, making it easy and fun to use is key to getting people to use these Bitcoin layers. Applications such as Lightning Network and Tornado Cash are designed to be user-friendly and integrate well with other tools that you already employ. EToro reports 75% of individuals prefer straightforward, simple interfaces for cryptocurrency-related matters, indicating its significance for these Bitcoin layers to have a user-friendly design.
