Welcome to Cryptoinvestor Weekly. The first and original newsletter for professional and institutional crypto investors.
This week we’re going to skip our usual “News from Nomics” section: the only thing to report is that we’re in “heads down” mode gearing up for our MVP launch in about 1-2 weeks (i.e. it’s the same news as last week).
On to the newsletter . . .
Issue 16 of Cryptoinvestor Weekly
We’re starting to see competition heat up between L2 (layer two or second layer) solutions built on top of Bitcoin’s blockchain and second/third generation blockchains (like Ethereum, Cardano, NEO, and EOS).
For example, Rootstock provides a Turing complete smart contract scripting language on top of Bitcoin (making it competitive with Ethereum) while the Lightning Network provides a second-layer (and off-chain) transaction network that allows participants to eventually settle their funds to the main Bitcoin blockchain (and with VISANet level throughput).
While Rootstock has yet to capture mainstream attention, this week saw excitement about the Lightning Network hit an all-time high.
Which brings us to . . .
This Week’s #1 Pick (Our Most Recommended Resource)
From The Article:
Now, almost three years [of development], the Lightning Network is coming to life. Last month the isolated groups developing the network banded together and released a “1.0” version.
It has hosted its first successful payments, with developers spending bitcoin to purchase articles on Y’alls, a micropayment blogging site built for demonstration purposes by programmer Alex Bosworth.
In a live but isolated test last month, Bosworth separately used the network to pay a phone bill with his own bitcoin. As he tweeted in late December, “Speed: Instant. Fee: Zero. Future: Almost Here.” And this week Blockstream launched an e-commerce site selling t-shirts and stickers that only accepts Lightning payments.
When you first heard about bitcoin, you probably heard about ‘instant payments around the world for free,’” says Russell. “But if you dug into it, it wasn’t really that cheap, and it was never instant. Lightning actually does those things.”