Bitcoin Course | Big Picture Basics 5.4 - Layer 2 Protocols

Free Course Full Lesson https://hashpower.academy/lessons/5-blockchain-data/
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This video is for educational and informational purposes only and should not be considered as financial advice or an investment recommendation.
The opinions expressed herein are solely those of the presenter and do not reflect the views of Hashpower Academy. Information is provided ‘as is’ and without warranties, either expressed or implied. We do not guarantee its accuracy or completeness. Investing in cryptocurrencies involves significant risk and should be undertaken only by individuals who can afford potential losses. Viewers are advised to conduct their own research and consult a qualified financial professional before making any investment decisions.

Video Transcript:

[Music] so far you have learned about all the different sectors of bitcoin’s ecosystem and how they connect together but also they innovate in their own directions different heating systems with the computers stability of grids the monetization of stranded energy hash power has developing new markets because it produces Bitcoin and the blockchain is no different what is the value of storing information online forever protected by the electricity of an entire country that is the interesting base layer of Bitcoin that you can store information online forever protected by energy it’s the most secure database ever built and the importance of that is what you can build on top of it and so people have developed social media new payment channels and all other different sorts of protocols to be able to transact because we all have different information needs if I was settling the transaction of a house I want security I want to see that transaction onchain as the verification of payment if I wanted to buy a coffee I want speed so maybe I could use a layer two to transact much quicker than the 10-minute blocks that you have to wait for what if you’re an institution with thousands or even millions of customers you want scale and so you want to be able to settle lots of transactions all in one file and so that’s what blockchain’s layer 2 and its Innovation direction is is the ability to innovate in the storage of data online [Music] forever

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