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- This Week in Bitcoin (November 2nd, 2022)
This Week in Bitcoin (November 2nd, 2022)
What is up you beautiful people!
Time for another edition of This Week in Bitcoin. LETS GO! But first. Shoutout to The Stacks Foundation for sponsoring this podcast. If you want to get started building on Stacks and push the mission forward of a user-owned internet with Bitcoin as the base layer. Check the links below. Learn Clarity: https://start.stacks.org/ Learn more about Stacks: https://stacks.co/ Apply for a grant: https://stacks.org/grants
Now lets jump in and get updated on the latest. Starting with Bitcoin mainchain.Catch the podcast on Apple, Spotify or Fountain.
Bitcoin
Honestly what happened in Bitcoin this week?
One big news story this week. 13 years ago the Bitcoin Whitepaper was released to a cryptography mailing list. That was the first domino that set this entire space into formation. It's truly a beautiful document in its simplicity. I'll drop a link to the article here. Take 5 minutes and revisit the genius that is Satoshi Nakamoto.
Stacks
Builders gonna build. Most of the news this week is around projects launching on Testnet.
ALEX released a new version of their upcoming orderbook. It's been on Testnet for a few weeks and now has a new feature called "pre-settle trading". Which sounds exactly like what it does. Certain trades can be confirmed in some fashion before they hit the blockchain more formally.
BitFlow Finance launched an alpha version of their StableSwap DEX on Testnet. Head over to their Discord to get early access.
Liquidium also launched on Testnet this week. They are building a lending platform for your NFTS. Giving you the ability to take out some liquidity against your valuable NFTs without having to sell them outright. Interesting idea.
Finally. The call is out for the next wave of great Stacks startups. The Web3 Startup Lab and Stacks Ventures Accelerator are both now taking applications for their next cohorts. The Startup Lab is more for earlier stage founders, whole the accelerator is for those ready to fundraise and grow quickly. Hit the links above to apply.
Lightning
Cash app + Bitcoin = Perfect Match
Huge news from Cash App. You can now directly send or receive Lightning Bitcoin using nothing but your Cash App account. This is something I said in my first interview with PseudoZach from LNSwap. Lightning is the killer use-case for Bitcoin because its fast, cheap AND uses the payment options we have already been getting accustomed to with apps like Venmo and Cash app. I love this move from Square and Jack Dorsey delivering on his Bitcoin bullishness. Tweet thread from the product lead at Cash App.
Amboss.space released a few new dashboards that gives excellent data into the current state of the Lightning network. You can view and chart stats like # of channels, # of nodes, base fee rates and more at a glance. Really good to see the progressive of Lightning overtime with this.
Kollider has released the worlds first Lightning-native exchange. You can exchange assets simply by sending a payment from a Lightning wallet. Announcement
Now time for some bad news. Lightning went down for the second time in the last month due to a bug originating from a BTC transaction. It only affected certain versions of Lightning (Mainly the one from Lightning Labs, Blockstream's version was unaffected). Tweet for color.
RSK
Bitcoin sidechains continue to take a beating.
A few weeks ago it was identified that RSK peg-out transactions were being flagged as "invalid" by Bitcoin core nodes. This is still an ongoing issue unfortunately. The latest on this can be found at the RSK blog.
Blockstream
Blockstream too?!
Early November 1st, it was indentified that Blockstreams federation of nodes that control peg-outs found a bug in one of the library. No BTC is at risk, but peg-outs for Liquid are also currently on pause. A fix has been found and should be implemented soon. Official Tweet here.
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