Chatting Via The Lightning Network

in LeoFinance4 months ago

Hey Jesscoiners

If I haven't made it clear enough I am a Bitcoin bull, and though I have plenty of time for alt-coins and what they re trying to do, I am under no impression that any of them are going to overtake Bitcoin. Bitcoin has built a floor for crypto and a peg for value through its hard cap and sound money principles.

It may be boring to some, and it may move slow when compared to the likes of Etehreum and other crypto projects not held back by the strains of decentralisation and having a bustling network with millions traded daily, it's easy to see why altcoins can race ahead, experiment and break things.

For insiders, Bitcoin feels like it moves at a snail's pace, which is why I am always so stoked to see improvements and dapps built using Bitcoin, or it's second layer solutions. I'm a big fan of the lightning network, and while it still has its growing pains and not much support, it's slowly starting to see improvements.

I mentioned the launch of liquidity pools on lightning, smart contracts and stable coins, and now we have a chat application too.


Chat now on the lightning network

I recently came across Sphinx chat, a dapp that uses the lightning network to offer encrypted chat via the payment channels that are set up on the lightning network. Nodes on the network won't only move value but other encrypted data such as instant messaging.

We've all been so reliant on centralised services from Facebook to WhatsApp, and these applications consolidate a lot of value that is funnelled to silicon valley elites.

This clearly shows that the lightning network has a lot more to it than sending satoshis around at near-instant settlements and making it cheaper to use Bitcoin. It's a second layer solution that is only seeing its use cases open up as more money comes into the base chain and developers start to race in and lend their talents to the Bitcoin pool.

It's all slowly creating the pieces to the puzzle

All these applications are still pretty raw and fragmented. Still, with a lot of the code made open source, it's only a matter of time before those strings are stitched together to build a robust network that offers Bitcoiners more features than ever before and allowing wallet operators even more flexibility.

I can see a day where your instant messaging app and wallet would be connected, where you can send value instantly with a text like you do on apps like WeChat but with Bitcoin.

Have your say

What do you good people of HIVE think?

So have at it my Jessies! If you don't have something to comment, comment "I am a Jessie."

Let's connect

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Posted Using LeoFinance Beta


Thanks for sharing your thought on another wonderful topic.
This is really a good news.
A decentralized app is the way forward specially in this would where a centralized service can be used to influence people and Govt or big corporates can use it for their propaganda.
But there are two sides - Governance is also very important, we don't want to put governance in the hands of a person or corporate but in the hands of users or the system itself. So we need to be very careful while designing these apps/protocols as these could be misused.

I am a bit torn on the whole governance debate on one end yes we should make sure governance is sorted for decentralized apps and on second thought I also don’t care because if it’s a free market people will create options with varying degrees of centralized to decentralized governance and you’ll pick the implementation you feel most comfortable with using

It would be great if we can chat in HIVE Blockchain like Messenger.

That is,
It's easy to talk to each other about topics not related to the post.

Thank for your Sharing!

Posted Using LeoFinance Beta

Have you not been using BEE chat? It’s available on peekd, NFT showroom and Palnet from what I see

I don't know that BEE chat.
I will just search that BEE chat.
Is it Android app or Browser app?
Thank you so much.

Posted Using LeoFinance Beta

No it's not yet an app but there will be one lauched soon. If you use peakd, it will be next to your nofications

Yeah Bitcoin open the path to other crypto currency and I move slowly but I backed up with million of people who uses it
I like altcoins like ethereum xrp etc but some are just scam or shitcoin too

I'm not yet sold on alts like ETH yet an XRP I wouldn't really trust with my money, shitcoins don't always mean small cap coins, there are large cap coins that are also pretty shit

WeChat? More like WeSat! That's a pretty awesome development! BTC turning itself into a messaging service to send sats over on lightning network? Sounds pretty badass to me!

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I'm so stoked about it, anything that gets me off the likes of Facebooks books is alright with me. Now if you could earn a few sats for using the messaging service you know i'd be shilling that app like a man posssesd

Lol! Yeah definitely wouldn't miss Facebook at all! Earning sats for chatting? I'll be flinging referral links left right and centre!

i find it amazing that we have so many different dapps nowadays. The big issue now is for all those dapps to attract more audience

Posted Using LeoFinance Beta

What I hope is that it being open source, we'll see lots of dapps leverage the code in their services, so you don't have to have 1 application drive the network effect but many