Oneofus on Nostr: Bitcoin's Layer 1 (L1) architecture makes widespread self-custody on the L1 ...
Bitcoin's Layer 1 (L1) architecture makes widespread self-custody on the L1 technically infeasible. Self-custodial Lightning wallets have proven to be inadequate due to their complexity and channel liquidity requirements. Sidechains like Liquid are not a viable solution either, as long as BTC can only be moved to L-BTC with one's own node but not vice versa. A truly decentralized and user-friendly Layer 2 is essential for billions of users to securely transfer and store small amounts of Bitcoin, with ease in moving them back to the main chain when the unspent transaction output (UTXO) size exceeds one million satoshis.
Published at
2024-10-24 10:30:49Event JSON
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"content": "Bitcoin's Layer 1 (L1) architecture makes widespread self-custody on the L1 technically infeasible. Self-custodial Lightning wallets have proven to be inadequate due to their complexity and channel liquidity requirements. Sidechains like Liquid are not a viable solution either, as long as BTC can only be moved to L-BTC with one's own node but not vice versa. A truly decentralized and user-friendly Layer 2 is essential for billions of users to securely transfer and store small amounts of Bitcoin, with ease in moving them back to the main chain when the unspent transaction output (UTXO) size exceeds one million satoshis.",
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