GAM3S.GG is your one-stop shop for web3 gaming, offering a comprehensive platform with games, news, reviews, quests, and analytics, along with the G3 token for governance, payments, and rewards.

 gaming space is thriving, with new projects entering it every day. While this robustness is positive, there's still the major challenge of keeping up with all that's happening in the space. Information about web3 games remains scattered, with many potential participants missing out on opportunities.

For this reason, GAM3S.GG has created an integrated web3 gaming platform where you can discover new games, access game content, get early access to new gaming projects and find reliable reviews.

Let's learn more about GAM3S.GG, the one-stop shop for all your web3 gaming needs.

 is a one-stop-shop web3 gaming platform where you can access in-game content, such as the latest immutable games, news, exclusive quests, reviews, guides and early access to gaming projects. 

A world-class team of gamers created the platform to help gaming enthusiasts keep up with what's happening in the web3 games industry by providing a central place to access quality information.

By leveraging strategic partnerships with other players in the web3 gaming space, GAM3S.GG has created a robust platform that curates everything you need to know about web3 games and projects. The platform helps you discover the best blockchain games, read game reviews and access analytics on the latest statistics and trends in web3 gaming.

 to integrate the Immutable ecosystem into its offerings so that users can enjoy Immutable zkEVM platform features, such as 

 and Immutable Passport, for a smoother gaming experience. Gamers also get to enjoy exclusive rewards and quests for games built on 

GAM3S.GG has also released the GAM3RS NFT collection, a limited edition of 333 

 that allows holders to unlock diverse perks and rewards. The collection represents four gaming archetypes: Achievers, Explorers, Socializers and Killers.

As a GAM3RS NFT holder, you’ll access various benefits and exclusive rewards. These include gaining access to the G3 token private sale, becoming part of an exclusive community, getting early access to top games, receiving exclusive skins in partner web3 games and qualifying for the G3 airdrop.

The GAM3S.GG gaming ecosystem is powered by the G3 token.

To provide a holistic gaming experience, GAM3S.GG works using the following components.

In order to use the GAM3S.GG platform, you first create an account and receive a unique user profile. The platform has an innovative algorithm that constantly looks at every user’s profile, using the information to provide you with a more personalized experience on the platform.

GAM3S.GG user profiles display the following information:

Quests are an essential component of GAM3S.GG, as they provide an opportunity for gaming enthusiasts to participate in challenges and games to accumulate XP and earn rewards. The quests involve completing missions in various games to win on-chain and off-chain rewards.

The GAM3S Quest platform has held over 100 Quests, attracting at least 320,000 participants who have completed over 3 million missions.

The core functionality of GAM3S.GG’s content and discovery product offers these key features:

G3 is the native token that fuels the GAM3S.GG ecosystem. Its utility is categorized as follows:

, separated into three phases, in which 30% of the total supply of G3 tokens will be allocated to the platform’s users. The first phase contains 15 million G3 tokens, and will be distributed exclusively to GAM3S.GG's early supporters. Part of the eligibility requirement for the first G3 Airdrop is being one of the 333 GAM3RS NFT holders.

G3 has a total supply of 1 billion tokens, which are being allocated as shown below:

You can buy G3 tokens on Bybit through its Spot trading platform. To celebrate the listing, Bybit is holding a

 through Apr 25, 2024, 9AM UTC, with 160,000 USDT up for grabs for new users and traders. In addition, there will be a Lucky Draw for rewards from a 20,000 USDT prize pool. Check out the 

GAM3S.GG centralizes various facets of web3 gaming, offering gaming enthusiasts a comprehensive platform that meets all their needs. This ease of access to all web3 gaming information also facilitates the onboarding of Web 2.0 gamers into web3. As the gaming niche expands rapidly, GAM3S.GG is well-positioned to capitalize on this growth.

Beginner

gam3s.gg.png

GAM3S.GG (G3): Unveiling the Best in Web3 Gaming

Discover how to easily mint and buy Runes tokens with the Xverse Runes wallet and Magic Eden marketplace, unlocking investment opportunities on the Bitcoin blockchain.

) reward halving is a monumental occasion for both the crypto industry and users. Halving is a once-every-four-years event that always draws significant attention. However, the April 2024 event is special on an entirely new level, thanks to the highly anticipated launch of the 

 protocol, schƒeduled to go live right after the halving kicks in.

Runes is a revolutionary standard for creating fungible tokens on the Bitcoin blockchain. The standard is widely anticipated to set a new paradigm on the Bitcoin network, turning it into a thriving multi-asset ecosystem with significant trading and investment opportunities. Most importantly, Runes is vastly more efficient and user-friendly than BRC-20, an earlier Bitcoin fungible token standard.

 is a new token standard and technology for creating fungible cryptocurrencies on Bitcoin’s blockchain. (This new token standard is not to be confused with RUNE, the native token of 

). It allows users to issue and manage fungible tokens using Bitcoin's unspent transaction outputs (

), which represent the outputs of standard Bitcoin transfers. The concept of Bitcoin Runes was introduced in September 2023 by Casey Rodarmor, the enigmatic developer who also created Bitcoin 

Runes is widely expected to go live right after the Bitcoin 

 event (scheduled to occur on Apr 18, 2024, it's estimated to actually occur on April 19 or 20). The first Runes token will most likely be issued by Rodarmor himself. Following that, it's expected that a large number of Runes tokens will appear on Bitcoin, quickly leading to a thriving trade and creating investment opportunities on a scale that Bitcoin has probably never seen before.

Back in 2023, Rodarmor's Ordinals technology opened up a unique way of creating Bitcoin-based 

. Runes will now usher in an era of fungible crypto tokens on the blockchain. While it's not the first fungible token standard for Bitcoin, it's estimated to be the first technology that facilitates an efficient and user-friendly way of creating Bitcoin-based cryptos.

Runes will introduce a lightweight method for creating fungible assets on Bitcoin, thanks to its utilizing the blockchain's native UTXO model. The process of creating and transferring Runes tokens involves attaching messages, called Runestones, to a Bitcoin transaction. As such, there's no need to create any additional UTXOs or other unnecessary elements on the network. By using ordinary UTXOs generated during Bitcoin transfers, Runes avoids placing any significant load on the network.

Which Projects Are Building on the Runes Protocol?

Although the first fungible Runes tokens won't appear on the network until after the halving event, some projects have already begun experimenting with the concept by introducing Runes-themed Bitcoin NFT collections based on the Bitcoin Ordinals protocol. Typically, these projects promise 

 of their future fungible tokens to people who have purchased NFTs from their current collections.

Runestone is one of the earliest and most popular Runes-themed projects. It’s a Bitcoin NFT collection based on Ordinals, with each NFT depicting a 3D stone that has an ancient rune symbol inscribed on it.

There are 112,400 Runestone NFTs in the collection, and many of the items are listed for sale on 

, a popular multi-chain NFT marketplace. As of Apr 17, 2024, the most expensive Runestone NFT is listed for an asking price of 787 BTC. Notably, with a market cap of 9,779 BTC ($606,042,181), Runestone is currently the highest-capped Rune-themed Bitcoin NFT collection and the second highest-capped NFT collection overall, right behind the legendary Ethereum-based 

Rune Pups is another high-profile Runes-themed Bitcoin NFT collection. Each NFT in the collection is a rune-laced drawing of a broadly smiling creature, which does somewhat resemble a pup. There are 10,778 NFTs in the collection.

Pups are among the most popular Runes NFTs, with a highest asking price of 777 BTC (for item #10,733) and a market cap of 1,301 BTC (~$80 million).

 is a collection of 21,000 NFTs, each with a dynamically changing set of ancient rune symbols. Owning an NFT from the collection will automatically open up ways to mine new fungible tokens that the project plans to introduce as soon as Runes is operational. As such, this collection goes beyond simple NFT ownership, turning your non-fungible tokens into yield-generating assets.

Runes isn't the first fungible token standard for Bitcoin. This honor belongs to the 

 standard introduced in March 2023. Unfortunately, BRC-20 is a cumbersome and inefficient way of creating Bitcoin-based fungible cryptos. It relies on inscribing data into tokens using the Ordinals protocol, and generates a lot of "junk" UTXOs on the network.

Due to the novelty of the BRC-20 technology, many Bitcoin users jumped on the idea of using it to issue their tokens, seriously congesting the network and creating a significant "anti-BRC-20" sentiment within the Bitcoin community.

Runes fungible tokens are, however, vastly different from 

. The Runes technology utilizes Bitcoin's native UTXO model, doesn't generate "junk" outputs on the network and places a very modest load on the blockchain. Thanks to all of these advantages, Runes tokens are likely to lead to a much more active and robust trade in fungible assets as compared to BRC-20.

In Runes terminology, issuing a new fungible token is called “etching,” while adding tokens to the existing supply is known as minting. If you prefer to etch and mint Runes tokens on your own, the process is relatively easy for the technically minded.

 software and run your own full network node. Then, install 

 for the Ordinals and Runes protocols. The latter has been implemented under the Ordinals software packages. Ensure that you thoroughly practice etching, minting and transferring on the test network to familiarize yourself with the protocol.

You can also pre-buy Runes on Magic Eden. Probably the best wallet to use for these purposes is Xverse's 

, as it’s specifically designed for user-friendly Runes token management and easy integration with Magic Eden. This marketplace is currently the go-to platform to get early Runes tokens and Runes-themed NFTs.

You can buy any Runes-themed Bitcoin Ordinals NFT on Magic Eden in order to have Runes fungible tokens airdropped to your wallet once the protocol's operations kick in.

If you’re not able to buy your NFT in time, it’s still not too late to get your hands on one of the most promising assets in the market. You can still wait for Runes to be listed on 

The arrival of the first Runes tokens is expected to liven up Bitcoin like virtually nothing before. Ordinals were a paradigm-setting innovation, but they were focused on non-fungible assets, which have traditionally lagged behind cryptocurrencies in terms of trading and investment applications. BRC-20 tokens were the first fungible assets on the Bitcoin platform, but their inefficient, network-clogging mode of operation severely limited their adoption and use cases.

Runes are different: For the first time in the history of Bitcoin, there’s an efficient, native way of creating and managing fungible crypto assets on the Bitcoin blockchain. This heralds a plethora of unique 

 for Bitcoin enthusiasts — at the very moment when the much-anticipated halving has arrived!

Advanced

How_to_Buy_Bitcoin_Runes_Bitcoin_Halving.png

How to Get Into Bitcoin Runes With the Runes Launch at Halving

Discover BitBrawl (BRAWL), a cross-chain compete-to-earn game on Solana with diverse modes, playable NFTs, and a fun, competitive experience.

 gaming has continued to grow with diverse projects looking to tap into this vibrant and promising space. That said, most of the games have focused on the play-to-earn (P2E) aspect of web3 gaming, which has saturated the web3 space with games that lack both enjoyable gameplay and sustainable reward systems.

 is looking to change that by creating the first cross-chain compete-to-earn (C2E) web3 game that encompasses fun, competition and rewards.

 is a cross-chain compete-to-earn (C2E) fighting game built on 

 that aims to provide fun and sustainably reward players. 

Its native token, BRAWL is used to power its compete-to-earn ecosystem.

s mission is to accommodate every player type — from games for competitive players to games for fun that you can play with friends and family. It's also focused on supporting a sustainable compete-to-earn ecosystem featuring weekly, monthly and even yearly tournaments to fairly reward players.

s storyline is based on 10,000 NFTs (brawlers) competing for glory, each one of them with unique skill sets originating from four regions: Nedunia, Ghule Islands, The Dynasty and The Underground.

The Nedunia region is a distant, secret planet consisting of one-eyed humanoids who use logic and rules to maneuver in it. In contrast, the Ghule Islands consist of ghouls who thrive on the adrenaline that comes with fighting.

The Dynasty is a city in the sky whose occupants are known for their ability to wield steel and move around in airships. Finally, The Underground is situated inside a dome on a gas-based asteroid. Its inhabitants have implanted artificial chips in order to manage the fluctuating levels of oxygen and nitrogen at different levels of the dome.

s gameplay involves player vs. player (PvP) matches known as brawls. Each player starts with three lives. Once a player loses all three, the game ends. There are also 2v2 or 3v3 matches for more fun online.

Gameplay consists of the following elements.

Non-fungible tokens (Brawlers) are a crucial component of the 

 game. Each of the NFTs has varying rarity, which will influence the amount of rewards you receive. There are four rarity classes of BitBrawl NFTs: common, epic, mythic and legendary. Each of the four regions in the game has been allocated 2,150 common NFTs, 250 epic NFTs, 100 mythic NFTs and 25 legendary NFTs.

Skins help you customize the in-game appearances of your Brawlers (NFTs). Once you 

 on OpenSea, you can connect your wallet and customize how you want to appear in the game. Skins are purely cosmetic, and do not enhance your NFTs’ power.

 has also partnered with other NFT games to allow you to play for free with their characters. Some notable names partnering with 

 include Karate Combat and G2A, in addition to UFC players such as Khamzat Chimaev and Darren Till. Better yet, 

s individual licensing method for NFTs allows you to play using NFTs such as those of 

BRAWL is the native utility token for the 

 game. It’s built on Solana, and has a total supply of 10 billion. As a functional token, BRAWL powers the game's in-game economy. BRAWL use cases include the following:

 in which you can use tickets to spin the wheel and earn points. As a BitBrawl NFT holder, you’re guaranteed daily tickets, with a chance to earn between 10 and 10,000 points.

You can also earn more tickets by partnering with the community, referring friends or participating in missions in the mission hub. Of the total BRAWL supply, 5% has been allocated to rewarding the community through airdrops.

The online gaming world is highly competitive, and 

 has designed a game in which everyone's a winner. The focus of the game is more on competing to earn, rather than simply playing to earn. As such, its competitive and rewarding design makes it fun and enticing.

 has adopted a unique licensing method that allows players to use playable characters from other games. This design makes the project scalable and flexible, so essential to the rapid growth being witnessed in the web3 gaming space. In fact, 

 could experience remarkable growth, especially when the NFT gaming narrative returns.

That said, this isn’t financial advice, and doesn’t guarantee future returns on BRAWL tokens. We highly recommend that you 

 or any other projects in the cryptocurrency market.

You can buy BRAWL on Bybit. It’s available on the Spot trading platform as a 

 provides a competitive but fun way to engage in web3 gaming. With over 10,000 Brawlers to choose from, players can explore the four regions and engage with others through the three modes in the game. 

s partnership with projects that allow the use of other NFTs in the game is also a unique approach.All in all, 

 is one Solana-based project to watch, due to its innovative gameplay and fun approach to gaming.

BitBrawl.png

BitBrawl (BRAWL): Fight for Glory in a Cross-Chain Combat Adventure

Nolus is a decentralized finance lending protocol with cross-chain capabilities. Learn more about how it works in this article.

One of the big advantages of decentralized finance (

) is that it provides more options for users. People who cannot get traditional loans because a typical bank deems them "high-risk" can turn to the DeFi sector to borrow crypto assets. The Nolus Protocol is a new DeFi lender that offers users all sorts of exciting opportunities. To see how this intriguing project works, explore this guide to learn all about Nolus.

 is a DeFi lending protocol. It has cross-chain capabilities that let people choose the most favorable rates possible and avoid the need to save up funds for liquidity.

Nolus was founded by Ivan Kostov and Kamen Trendafilov. Kostov worked in traditional finance, while Trendafilov has a background in marketing and business. During their time in these sectors, Nolus's founders realized that blockchain networks had the potential to revolutionize banking. They decided to join together and create a new leasing system that makes the most of DeFi products instead of just trying to mimic past banking methods.

Nolus started work on its plans in 2022 and officially launched its mainnet in 2023, having successfully completed several investing rounds and receiving 

 Token Metrics, Autonomy Capital, Everstake and more.

Nolus aims to tackle three problems common in crypto lending markets:

 software developer kit (SDK). Its code is entirely open sourced, and is updated and changed only when all stakeholders in the Nolus community vote to do so. According to the Nolus white paper, its ecosystem’s goal is “to build a novel user experience–driven automated money market” that facilitates direct interactions between lenders and borrowers without involving any other users.

The Nolus lending method starts with lenders choosing to supply 

 to the system. Any borrower who submits a down payment can get a loan from this supply of stablecoins. Both the coins and the down payment are 

, and interest is determined based on the value of the items. There’s no fixed repayment schedule, but the smart contracts ensure that interest is automatically removed from the collateral, and then paid to the lender at regular intervals. Once the user decides to repay the lease, the original assets are released from the smart contract.

Nolus's lending protocol includes many ways for customers to profit and enjoy convenient services. Here are the main DeFi products you can access through Nolus.

DeFi leasing on Nolus is designed to be as convenient as possible. Customers don’t have to go through a lengthy application or pay a lot of fees to other users. You just enter your collateral and get a loan of up to three times the value of the initial investment. Interest rates vary between 11% and 18%, based on the market value of the digital assets. The 

 allow the loan to be repaid on your own schedule. However, keep in mind that you pay more interest if you wait a longer amount of time to repay the loan.

If you want to earn money based on your existing crypto, you can join one of the many 

 on Nolus by submitting stablecoins in exchange for interest-bearing Nolus crypto. When you're ready to withdraw your funds and stop participating in DeFi leasing, you can cash out your Nolus tokens to receive your initial asset, plus any additional interest or network fees you’ve earned.

Nolus's system of money markets isn't the only thing they provide. Users who decide to 

 a crypto asset on Nolus can earn more money. The Nolus ecosystem offers the option of staking NLS tokens in exchange for various incentives. Lenders receive higher amounts of rewards for lending stablecoins, and borrowers get a lower interest rate.

Nolus has had some impressive growth since its launch in 2023. In just six months, the lending protocol has assisted with thousands of loans, collectively worth $8.6 million in total. Its team calculates that they've managed to achieve an average 

Nolus hopes to expand on this momentum in 2024. Its main plan is to continue marketing the lending protocol heavily, attracting more users who want to do their own research and find the best possible loans. To further attract users from the DeFi sector, Nolus aims to add more support for other crypto tokens and increase network liquidity. Nolus stands for community-led governance, so they don't have a long-term road map in place. Instead, they plan to evolve and adjust to suit whatever community needs arise in the future.

. It allows users to adjust their interest rates, and it's also a 

. People with NLS tokens can vote on how the platform is run and help implement new changes for the platform. The NLS token has a total supply of 1 billion. Nolus’s plan is to gradually mint tokens over a ten-year period, and implement a token buyback program to help maintain value. NLS token distribution will be as follows:

When the NLS token was released in the summer of 2023, Nolus prices were fairly stable. However, now that investors can sell their NLS tokens, prices have become more volatile. Starting in December 2023, NLS prices 

, and although the token currently seems to be dropping from its all-time high of $0.10, more price increases seem likely in the future.

Not only is the market for the NLS token quite bullish right now, but the Nolus lending protocol is also attracting a lot of positive attention in the crypto space. If the network can maintain its positive attention and attract more users, prices seem likely to rise even further. CoinCodex predicts Nolus prices will stay in the $0.04 to $0.19 range for 2025, and hit 

. This attitude is backed up by crypto influencers such as Crypto Revolution, 

 an underrated crypto with a lot of potential for growth.

The Nolus project is a well-thought-out crypto protocol that offers users significant advantages. Its innovative approach to lending could potentially attract a lot of users from the DeFi space. In addition to having a reliable system backed with effective technology and a detailed white paper, NLS digital assets have also experienced some promising growth patterns. The crypto asset has had a slow yet steady climb in price, and now that it's trending in crypto news, it seems poised to take off.

However, keep in mind that it's still important to 

 on digital assets. Some crypto investors might find it concerning that the Nolus project is mostly backed by marketers, instead of blockchain enthusiasts. There have also been some tech issues, such as the 

 that led to some unnecessary margin calls. Subsequent issues could limit price appreciation of its crypto assets. Therefore, it's necessary to approach Nolus with caution and not overextend your finances.

Nolus's DeFi lease system allows people to obtain easy access to crypto. Its innovative approach provides investors with significant advantages. Unlike traditional finance, there's no lengthy application process, and in contrast to many other blockchain networks Nolus doesn't have frequent margin calls or high network fees. As long as Nolus doesn't run into any technological issues or financial problems, its network is likely to have a lot of success in the DeFi space.

Intermediate

nolus_protocol_nolus.png

Nolus (NLS): Crafting Liquidity's Future With Leading DeFi Leases

Blockchain

Bitcoin

the Lightning Network is a Layer 2 protocol that reduces costs and traffic congestion on the Bitcoin network, facilitating scalability. Its recent Taproot Assets helps it scale further. Read on to find out more.

Lightning_Network_Taproot_Assets.png

Lightning_Network_nodes.png

Lightning_Network_capacity.png

Lightning_Network_TVL.png

 (BTC) is a type of digital currency whose 

 (P2P) technology allows users to engage in transactions with greater speed and efficiency. The gradual adoption of Bitcoin and cryptocurrency in general by financial institutions — and payment giants like PayPal and Square — signals a broader acceptance within financial services, pushing crypto’s evolution to better support its networks.

Essentially, this brings us to the Lightning Network, a second-layer protocol that operates alongside Bitcoin to enhance speed, versatility and privacy and reduce cost.

The Lightning Network is a second-layer protocol that runs on top of the Bitcoin blockchain to scale transaction verification. 

It alleviates expenses and mitigates traffic congestion on the Bitcoin network’s base layer. With instantaneous processing speed, Lightning Network can facilitate decentralized micropayment transactions at a global scale, eliminating the need for intermediaries.

First proposed in 2015, the Lightning Network was the brainchild of Thaddeus Dryja and Joseph Poon. The two researchers described the off-chain protocol, designed to operate using payment channels, in their paper entitled 

. Using these channels, untrusted parties could make small transactions indefinitely without adding traffic to the 

. A year later, Dryja and Poon, along with others, founded Lightning Labs, which further developed the concept and eventually unveiled the Lightning Network in January 2018 after the SegWit soft fork in August 2017. 

As its name suggests, the Lightning Network is designed for processing transactions in a nearly free and instant manner by taking them off-chain. It exists separately from Bitcoin’s primary network, using its software and nodes to communicate with the network and exchanges as it finalizes transactions. 

The Lightning Network was designed to reduce traffic on a blockchain network’s base layer, lower the blockchain’s costs, and allow for private payment channels between parties. Since its establishment, the Lightning Network has experienced steady growth and is recognized for its ability to lower fees and speed processing times. The Lightning Network has also expanded to other blockchain networks, including Litecoin.

Even in the current bear market conditions, 

, a company specializing in Bitcoin technology and finance services, has revealed a remarkable surge in the Lightning Network’s popularity. Its capacity has registered an astonishing growth of 1,200% since August 2021. As of September 2023, there are a reported 279,000 and 1.116 million monthly active Lightning users.

Lightning Network has recently released a new upgrade, the Taproot Assets protocol, which not only enhances the scalability of the network but also transforms Bitcoin into a multi-asset network. 

Essentially, Taproot Assets enables the issuance of stablecoins and real-world assets, such as fiat currencies, gold and government bonds directly on the Bitcoin blockchain. Since these transactions occur off-chain via the Lightning Network, Bitcoin is shielded from any potential congestion resulting from these activities.

Similar to the Bitcoin network, the Lightning Network is made up of nodes. However, it uses 

 to process a transaction without being recorded on the blockchain. Each transaction is accessible privately, only to the transacting parties, and each node uses Lightning Payment Channels to execute payments. The Lightning Payment Channel is opened by creating multisignature addresses between the two parties conducting a transaction. The built-in features help prevent either user from cheating or altering any data contained in the channel, and the speed of payments is limited only by that of their Internet connections. 

Suppose Alex wants to pay Kim in BTC via the Lightning Network. They could first lock up their BTC in a unique 2-of-2 multisig address, opening a direct Lightning channel and enabling them to initiate the transaction by keeping a private ledger off the mainchain. At the off-chain Lightning channel, the funds in the pool are divided into two parties — Alex’s and Kim’s funds. 

The initial balance of the pool is 2 BTC (1 BTC each). Alex pays Kim 0.5 BTC on the Lightning Network and is left with 0.5 BTC. Kim then receives 0.5 BTC and her current balance is 1.5 BTC. Once the channel is closed, the microtransactions are consolidated into a single transaction, which is then verified, processed and added to the on-chain blockchain, and their balances will be updated accordingly.

However, if either Kim or Alex does not have a direct channel, the transaction is routed to Jack using a type of smart contract — hashed time-locked contracts (HTLCs). The contract is used to promise Kim that she’ll receive her BTC and Jack has to prove that he paid the agreed amount to Kim. In return, Jack will receive a small fee for executing the order. 

While Bitcoin is convenient and easy to use, its limitations have led to some wariness regarding its adoption as a currency. Consequently, BTC isn’t accepted everywhere, and its value tends to fluctuate according to demand, with built-in deflation. If a file is lost or a hard drive crashes, the wallet contained therein disappears, too, with no way to recover the lost funds. There’s also no buyer protection when goods are purchased with BTC. 

Perhaps the biggest limitations of Bitcoin, however, are linked to its speed, cost and scalability. 

Bitcoin transactions are verified and recorded in blocks. A new Bitcoin block is created every ten minutes, and each block contains a specific number of transactions. Miners prioritize transactions based on fees, which means that you might find yourself bidding against other users to ensure your transactions are processed promptly. That means, the higher the fee rate, the faster the transaction will be processed.

During slower periods you can expect your transaction to be processed on time, but during busier days or hours, you may be waiting a long time — or facing high fees as miners race to get through multiple transactions in the 

 associated with Bitcoin are necessary to support the network, but they tend to be high, especially for smaller transactions. Anyone who wants their transactions to be processed needs to expect to pay a higher fee during the network congestion since only a limited number of transactions can be included in each block. Traditionally on the Bitcoin network, miners would receive a subsidy when a new bitcoin is minted and transaction fees for adding the transactions into a block.

However, the fees incurred for using the Bitcoin Lightning Network are only required for the following:

As long as the channel is open, you can make multiple transactions, and the only fees you pay are those due when you open and close the channel. The Lightning Network uses block space more efficiently, improving Bitcoin’s capacity and lowering transaction costs.

The capacity for Bitcoin growth is limited, in other words, it has a scalability problem. Bitcoin’s blocks have a size limit of about 1 MB, and they’re generated only about every 10 minutes with a processing speed of about seven 

, which processes almost double that number (before its upcoming 

 consensus), while VisaNet can process up to 24,000 TPS. 

This means that the capped capacity limits the number of transactions to be processed on-chain, thus limiting the database to grow. Whenever the number of transactions outgrown the limit, the nodes will not be able to keep up. Essentially, the network is clogged with pending transactions that could drive a fee bidding war. 

The scalability problem first became apparent in 2015, with a variety of solutions being offered, including increasing block size. The 

 (BCH) hard fork occurred in August 2017, and that same year, segregated witness (SegWit) was also implemented as a potential solution to the overall Bitcoin capacity issue.

The Bitcoin network’s base layer is characterized by the technological framework that supports the network, as well as the monetary application. It’s used to verify and complete transactions, but as has already been discussed, it has limitations, particularly Bitcoin’s capacity and cost. The second layer protocol is designed to address these limitations. 

) protocol is also known as an off-chain solution. It’s decentralized, much like the main blockchain, and offers the same security protocols, but its primary purpose is to solve the scalability issues of conventional blockchain technology.

On a decentralized network, global consensus is essential, and all participating nodes carry a complete copy of transactions for verification purposes. This prevents 

, without having to rely on a central authority or regulatory body. 

) security layer, which creates an immutable record of the data. The blockchain acts as the base layer. The second layer protocol decreases the amount of data on the blockchain by allowing for off-chain transactions. 

With a second layer protocol, basic computations can be run off-chain while the transactions are still anchored to the blockchain. This minimizes the amount of data stored on the base layer, freeing up critical resources without compromising security. In other words, blockchains with second layer protocols are more usable and scalable, and thus capable of competing with larger and more centralized systems.

 to improve speed and scalability. While Bitcoin uses the Lightning Network, Ethereum offers multiple Layer 2 scaling solutions, such as 

. Ethereum’s Layer 2 protocols, which include 

, are designed to address scalability and cost concerns by enabling off-chain computation. 

Bitcoin’s Layer 2 solution lies in the Lightning Network, which uses smart contracts to enable near-immediate and low-cost transactions, along with cross-platform “atomic swaps” in which users can trade one coin for another without using an exchange.

Segregated Witness, or SegWit, is the most prominent Bitcoin protocol upgrade to date. It effectively segregates transaction data from witness data, so that each transaction on the blockchain consists of two parts: 

SegWit is a soft fork, or backward-compatible change of code, which splits transactions into two segments. It moves the witness data (or signature) from the original segment to the witness segment. 

The implementation of SegWit essentially doubles block size, upgrading it from 1 MB to 2 MB while requiring no major changes to the existing code. Although SegWit doesn’t necessarily solve the scalability problem, it enables support for Layer 2 solutions such as the Lightning Network.

How the Lightning Network Helps Combat Bitcoin’s Problems

By consolidating numerous microtransactions into a single one, the Lightning Network can reduce network traffic. Taking these microtransactions off the main network ensures ample space for larger, higher priority transactions and enhances processing speed. 

The Lightning Network also improves scalability by transacting and settling off-chain.

How Can a User Benefit from Bitcoin’s Lightning Network?

The biggest pros of the Lightning Network are its speed and affordability. As mentioned above, on the Bitcoin network’s base layer fees and waiting periods can be prohibitive. However, with the Lightning Network, you can send and receive small payments in a way that is simply not feasible on Bitcoin’s network. You can swap payments numerous times before closing the channel and completing a single transaction, all for one fee. 

Because the Lightning Network operates as a secondary layer on top of the main network, it still offers users all of Bitcoin’s standard security protocols. Users can also switch between networks, according to their needs, accessing the Bitcoin network to complete large transactions and switching back to the Lightning Network for microtransactions. Transactions associated with the Lightning Network are private, occurring off the blockchain and recording only the overall results.

Finally, the latest Taproot Assets upgrade expands Bitcoin technology to more mainstream users, as real-world assets like fiat currencies and gold can be issued via the Taproot Assets protocol.

Lightning Network’s Impact on Bitcoin Adoption

The Lightning Network and Bitcoin work together seamlessly, encouraging more people to use both technologies. Those who already use Bitcoin will naturally turn to the Lightning Network to make fast, small or inexpensive payments. This flexibility and efficiency granted by Lightning Network will continue to draw more users to using Bitcoin and Lightning. The more people use Lightning Network and Bitcoin, the more both will become recognizable on conventional exchanges and be accepted as more traditional forms of payment.

While the Lightning Network has the potential to solve some of Bitcoin’s issues, it does have some shortcomings. 

First, the Lightning Network may not necessarily be inexpensive to use. This is because before making micropayments between either party, the user must first deposit on-chain. Furthermore, the final amount for the transaction closing must also be recorded on the Bitcoin chain. 

Lightning Network: The Scalable Solution for Bitcoin

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards