Bitcoin's Lightning Network losing steam, and Spend the Bits is being proposed as viable alternative
For proper context on the protocol's situation, the Lightning Network can now process just 5,000 Bitcoin units, a count that represents just about 0.00023% of the entire Bitcoin network's supply.
The woeful performance is notably undermining the relevance of Bitcoin or the Layer-2 network as a certified payment protocol, and market experts are beginning to see an alternative in other equally innovative protocols Spend the Bits currently serves users in Canada primarily, with planned expansion to El Salvador and other parts of the world in its bid to gain a strong footing in the crypto payments world.
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