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Catapult

catapult

Astounding Stories of Super-Science January 1931: The Fifth-Dimension Catapult - Chapter V

About a week ago, I stopped by my local bank’s ATM machine. As I lined up behind a couple of other customers, I felt an air of tension and unease. The woman at the ATM machine was glancing cautiously at people behind her through the mirrors placed on the machine. Although I understood her caution, I wondered if she knew that a more threatening thief might not be directly behind her. Rather, the thief could be sitting comfortably at home reading the sensitive data off of her ATM card through a magnetic strip skimmer while obtaining her PIN number with a tiny, thermal camera placed on the ATM machine. According to the U.S. Secret Service , thefts from ATM skimmers now total more than $1 billion per year. This statistic does not take into account the possible, large number of unreported incidents, that could raise this number to the multiples of billions. Just last June, in Putnam County, Florida, an organized criminal group was able to compromise from ATMs before being apprehended by authorities. 291 credit cards ATMs are arguably much more valuable than gas station pumps due to the volume of FIAT that they deal each day. Using the blockchain and Internet of Things (IoT) context awareness, we can protect ATMs from the inside out by giving each ATM a way of sensing for unwanted external components and reporting unauthorized access or modification. NEM Catapult How does ATM skimming & shimming work? ATM skimming works much in the same way that gas station pumps are skimmed — through internal, or external devices that are able to read either the magnetic strip or card chip. From there, the skimmer sends the data over SMS or Bluetooth to the criminal’s own laptop or phone. Often times, criminals will place external covers, keypads, and card readers over legitimate ones on the ATM. Usually, these are very hard to spot because they are an exact copy of the ATM’s parts. Skimmers are often made as exact replicas of the legitimate part, making them hard to spot. These covers contain simple electronics, mainly a magnetic strip reader, to intercept the card going into the machine. To steal the PIN number, criminals will also place a low-power thermal camera over the keypad to see which numbers have been pressed. Once they have this stolen information, the criminal can now easily create cloned cards to spend online or in stores. However, while the well-known skimmer is a popular choice for crooks, another device has been making its way into ATMs: Shimmers. Shimmers operate on the same principle of a skimmer, but is instead a much lower profile device that can fit in the credit card reader itself. As one can imagine, it becomes very hard to detect compared to an external component. Shimmers also can read the supposedly secure chip-based cards, making them all the more threatening. Shimmers are compact, extremely thin boards that are able to fit within the card reader. Detecting Fake & Fraudulent ATM Parts With IoT Context Awareness Using the security and transparency of blockchain, and the automation and unbiased reporting from Internet of Things, we can construct a solution that combats skimmers, shimmers, and everything in between! Firstly, let’s take care of the physical aspect of the problem: the placement of skimmers and shimmers on and in the ATMs. Applying our proprietary “IoT Skin” on the ATM, we can cover all areas of interest, including the inside of the cabinet. The IoT Skin applies concepts of context awareness to monitor its environment and take note of and act on outside variables. \ Context awareness is the ability for a system, the IoT Skin in this case, to detect and react to its surrounding environment. A monitoring device inside of the ATM watches the IoT Skin for changes in outside conditions, such as pressure, light, and the distance of objects around the ATM. A concept of the IoT Skin on an ATM. The IoT Skin covers all areas of interest on the machine inside and out. It is able to sense outside disturbances or external placements. All suspicious actions are logged to the blockchain. If the IoT Skin detects any objects being placed over certain areas, such as near the card reader or keypad, for an extended amount of time, the ATM’s owner is notified to examine the ATM for skimmers. To combat shimmers, part of the Skin is placed on the inside of the card reader itself. The IoT Skin would have measures in place to tell the context of the situation happening on the outside or inside of the ATM. For example, if someone were to lean on the machine for thirty seconds to a minute, the Skin wouldn’t be triggered. However, if a presence is detected for more than five minutes, then the IoT Skin knows that fraudulent activity may be taking place. Even if the presence is no more than a piece of gum stuck on the outside of the machine, it will prompt the ATM staff to examine the ATM and ensure nothing illicit has been placed. In other words, the IoT Skin is able to be aware of the context of the situation, differentiate between different types of activity, and act accordingly to alert the correct parties in the case of suspected fraud. This same monitoring device also utilizes a smart lock and magnetic reed sensor to further protect the inside of the ATM. These security measures secure and watch for any time an ATM is opened by a legitimate (or illegitimate!) company, and they ensure that the interaction is authentic and valid. Now, where is all this information going? How is everything being validated and authenticated? The answer: The Catapult blockchain! Using Catapult’s built-in features, we can have the IoT monitoring device directly log all important external and internal interactions on the blockchain’s secure, distributed ledger, as well as facilitate access to the inside of the ATM. The monitoring device logs all suspicious actions from the Skin directly to the blockchain - such as a fake cover being placed over the card reader. The IoT monitoring device that monitors the IoT Skin logs all interactions to the blockchain, keeping an immutable and certifiable record of any suspicious activities, or if nothing happened that day, that the ATM is considered safe and is labeled on the blockchain as such. To help consumers easily discern the safety of an ATM, a scannable NFC or QR tag would be placed to allow for the consumer to view the ATM’s history on Catapult. This transparency would inspire confidence and trust for ATM customers. They would know the exact provenance of the ATM that they are using, and that it is immutable-ly recorded and verifiable on the blockchain’s distributed ledger. Mobile mock-app that customers can download to verify the ATM they are about to use. The app inspires consumer confidence to track the provenance of each ATM for themselves. ATM Access Control - Facilitated by Catapult Now that nothing can be placed externally, what’s to stop someone from opening the ATM and placing a skimmer from the inside, should they gain access? Access control for ATMs are crucial. Whether it is to simply refill the machine with cash, or even to modify a part of the ATM, only qualified individuals should be allowed to perform these actions. To solve this problem, ATM operators must own an on-chain, non-transferable certificate, called a “Mosaic” on Catapult. This certificate is issued by a company who has a unique domain on Catapult, called a namespace. Once a namespace is created, its name can’t be used by another person on the blockchain. On-chain are also used for access control to only allow qualified individuals to own and use this certificate. They act as network-wide rules and standards that apply to each operator and define which machines they are allowed to service. These restrictions can also allow for specific cases where the operator may not utilize the certificate, such as at specified locations or timeframes. Therefore, companies can issue non-transferable, programmable certificates under their namespace to the correct people to prove they are legitimate! Mosaic Restrictions Upon each interaction between the operator and ATM, a one-time smart contract, called an transaction, will also be issued between the ATM operator and the ATM owner before the ATM is to be serviced. In this on-chain contract, they will agree on a timeframe and location for the specific ATM. This contract also contains a secret, encrypted code that the IoT device will ask for as part of authentication. Given that this contract can also execute multiple types of transactions all at once, the contract will assign the operator’s (another feature on Catapult!) the timeframe and location of the ATM that they are supposed to service. Aggregate Bonded Account Metadata The authentication flow depicted above happens entirely on Catapult without any intermediary servers. The blockchain keeps a record on each operator to verify their identity and certification. After checking the certificate of the operator and the secret code, the IoT device checks the account’s metadata for the correct data to ensure that they are at the correct location, and within the time frame agreed upon the smart contract. Once this is confirmed, the aforementioned smart lock is unlocked. The magnetic reed sensor also confirms that the door was opened for a reasonable amount of time, further validating the interaction. If everything checks out, the IoT device logs the interaction as valid on-chain. If it wasn’t valid, that would also be logged, and would alert the ATM owner or other involved parties. The Catapult blockchain now keeps an immutable record of this interaction on-chain, and is able to be referenced and accessed anytime in the future if needed. Keep in mind that even if a criminal element working for the operator decides to place a skimmer, our IoT Skin will be watching on the inside, ensuring nothing out of the ordinary has been placed. Any time an operator needs to refill cash, perform maintenance, or modify the ATM, the access control mechanism will control every aspect of the ATM, from the inside-out. Combined with the IoT Skin, this multi-layer solution creates a tightly-controlled and monitored environment that will deter any criminal as soon as they catch sight of a trackable, branded QR code ID tag. Win-win! Conclusion The combination of the Catapult blockchain and IoT is a powerful one — it allows us to connect the real-world with the digital one, providing a new perspective into many different industries. Protecting ATMs from an ever growing threat is just one application — there are many more that can come out of applying this same concept of direct IoT-to-blockchain communication to different problems. This technology enables the verification of unbiased technology to properly record data onto a secure, immutable, and fault tolerant ledger, which in turn inspires consumer confidence and business savings. Disclaimer: I am associated with IoDLT as a blockchain CTO. If you liked this article, feel free to follow me on my social channels. I'd love to talk tech with you on any of these platforms! Twitter: https://twitter.com/crackthec0de01 Telegram is a great place to catch-up with me, as well: https://t.me/crackthec0de Thanks for reading!

How IoT Context Awareness & The Catapult Blockchain Solve the menace of ATM Skimming

Authors: Bassem Youssef & Bader Youssef Author's Note:  This article was originally posted on the IoDLT's blog, which fortunately, is mine :) I was seated in the chair of my local bank, excitedly awaiting to open a new bank account. As I was handed my new VISA debit card on the spot, I imagined the convenience that a powerful electronic payment solution would bring. Upon giving me the drill on my new card, the first words out of the bank manager’s mouth were: “Whatever you do, never use this debit card at the local gas pumps!” That’s right — I wasn’t allowed to utilize the convenience of my card at one of the simplest and seemingly harmless actions one can participate in. She told me that there was a serious problem concerning the pumps — one which had affected herself as well. I leaned forward in my chair out of curiosity, anticipating the reason as to why I wasn’t allowed to utilize my supposedly secure bank card. The reason for this dire warning was actually quite simple — and shocking. Many of the gas station pumps in the area were known to be compromised with an illegal credit card logging device known as a “skimmer”. In the last year, the number of skimmers in the state of Florida rose by 27.6 percent. In South Florida alone, nearly 200 skimmers were found in gas pumps. When you take into account the amount of traffic that each pump gets, especially in more populous places, the threat this issue poses becomes much more significant. With 29 million Americans pumping gas with credit cards everyday, and an estimated amount of $1 million dollars worth of fraud per skimmer, this is a disruptive issue that needs serious technological intervention. Shocking amount of skimmers found in Florida over the last year - source, WPTV How do credit card skimmers work? First things first — how do these things work? Most prominent in the states of Florida and Texas, Credit card skimmers are devices that are placed near the gas pump’s legitimate card reader. Frequently part of organized crime operations, they are often placed on the inside of the gas pump’s cabinet. The devices then log this data wirelessly over Bluetooth or even a cellular GSM connection, where criminals obtain the credit card information. Due to the wireless nature of the skimmer, the criminal never needs to return to the pump to retrieve their skimmer. Chip-based card readers are also in trouble; in the last year, devices known as “shimmers” have made their way into gas pump cabinets. These operate on the same principle as the skimmer, only they intercept card information from the supposedly secure chip-based card readers. To combat this issue, many gas stations began placing “security seals” to indicate if a pump has been tampered with. However, these stickers are easily replaceable once taken off, as the criminal can simply order a pack of 500 stickers for $69 USD online, making it not a very effective method for informing the public. Security seals do not aid in anti-skimming — they are easily replaceable How can NEM Catapult and IoT solve this? So, how can one solve this growing crime that affects millions of people in Florida and elsewhere? The answer lies with the NEM Catapult blockchain. We battle a high-tech problem with a high-tech solution! The use of blockchain (a distributed, trusted online ledger), with elements of Internet of Things (IoT), can aid in authenticating and auditing gas pumps and their activities. For this application, we can utilize the NEM Catapult blockchain, as it introduces several built-in mechanisms that will perfectly suite this application. To solve this issue, a low-cost IoT “anti-skimming” device is placed within each gas pump’s cabinet. This device will be equipped with a door sensor and smart lock. This is able to log who, when, where, and which gas pump was opened and (possibly) tampered with. In order to identify if the operator is certified or not, each IoT device would also utilize an RFID (radio frequency identification) tag to authenticate the person opening the gas pump cabinet. This authentication is done on the Catapult blockchain via two steps: Firstly, the operator that scans the pump’s RFID tag must own a non-transferable token (called a mosaic in NEM) on the Catapult blockchain. This token is a corporate or goverment-issued token, meaning this person would have to be a certified operator in order to own this token. Each of these tokens are placed under a Catapult “namespace”, which uniquely identifies the entity who issued the certification token. Each namespace on Catapult can only be owned by one entity, which verifies the legitimacy of the certification. For example, if the sender of the certification token is “shell-usa”, you can be certain that the operator was certified by Shell USA, and thus, is allowed to operate and open the pumps. Operator authentication using NEM Catapult mosaics Secondly, the gas station must also enter into a one-time, timed disposable smart contract (called an Aggregate Bonded contract) that grants the operator a window of time to perform the necessary, legitimate maintenance. If both the operator and gas station owner sign this smart contract, the IoT device will make note of this on-chain. This smart contract will signify that the operator has indeed shown up and interacted with the cabinet with the gas station owner’s approval within the allotted amount of time. One-time on-chain smart contract - called an Aggregate Bonded Transaction in NEM Once this authentication process is complete, the IoT device logs the full interaction directly on the blockchain as a valid event between the certified operator and the gas pump. If an individual was unable to complete the above steps, the device will log this interaction as “invalid”, notifying the gas station owner and prompting for further investigation on that specific pump. A concept mobile app that customers could use to discern whether a particular pump is trustworthy or not. On the left, a safe pump is shown. On the right, a pump may contain a skimmer. The blockchain will keep a verifiable ledger of the events of each gas station, and subsequently, each gas station pump as well. This also makes it more difficult for anyone attempting to gain illicit access to the pumps. Because each pump is now audited, customers can now verify the history of the pump by scanning the RFID tag, which will indicate whether the pump has been tampered with before. Crisis averted! Conclusion Utilizing blockchain and IoT will enable businesses to not only protect gas pumps from skimmers, but also other critical equipment that requires authorized and certified operators. Internet of Things is a very powerful tool that can simultaneously create conveniences for us while helping combat crime and improve quality of life. NEM Catapult’s easy-to-use API layer makes the communication of IoT devices a breeze, and guarantees a high level of security throughout the entirety of the solution. If you liked this article, feel free to follow me on my social channels.  I'd love to talk tech with you on any of these platforms! Twitter: https://twitter.com/crackthec0de01 Telegram is a great place to catch-up with me: https://t.me/crackthec0de Thanks for reading!

Gas Pump Skimmer Fraudsters Want Your Credit Card Number - NEM Catapult To The Rescue!

A Catapult from the Fifth Dimension 

The Fifth-Dimension Catapult

পঞ্চম-মাত্রা ক্যাটাপল্ট

Das Katapult der fünften Dimension

5차원 투석기

Beşinci Boyut Mancınığı

We like to think we know a thing or two about artificial intelligence. We've seen the ominous technological future depicted in television shows and films of robots slowly amalgamating into society. But this imagery is all wrong. AI isn't taking over the world in the form of lifelike robots. Instead, automation has been in our lives for quite some time now, and many of us are likely not even aware of it. Driverless cars. Voice-activated home assistants. Smartphones. These are all made possible because of artificial intelligence. It's not only changed our lives in unimaginable ways, but it’s also allowed us to collect, analyze, and interpret data that can help us better understand the world around us. And for business owners, that's critical not only for our organizational efficacy and profitability, but it allows us to see our customers through an entirely new lens. It's no surprise that many industries are already taking advantage of artificial intelligence in their practices — and now, so is the cannabis industry. The legal cannabis market is predicted to reach . To prepare for this growth, leaders in the cannabis sector must exploit AI’s transformative powers or risk falling behind the competition. over $66 billion by 2025 So, what exactly are some of the transformative powers artificial intelligence holds in the cannabis industry? Let's find out. Enhanced cultivation capabilities Have you ever enjoyed the benefits of smart home technology? If you have, you know that smart lights and smart thermostats allow you to control your home’s lighting and temperature from anywhere in the world. Growers can now enjoy these same benefits. By using artificial intelligence, we are , which can generate higher yields at lower prices. This is what we do at Tweedleaf. better able to manage our crops We use AI to adjust the pH level and moisture levels of our soil. We also use AI to help monitor and control lighting exposure to ensure our plants receive the appropriate level of photosynthesis. We even use it for pest control. By giving growers real-time updates, AI eliminates the 'guessing game' of cultivation. Is the growth rate slower than usual? Are nutrient levels low? Is there a pest infestation? Artificial intelligence alerts growers to any issues, so they know exactly what to fix and how to fix it. All of this is pretty miraculous when you think about it. AI allows growers to create the perfect environment for plants rather than leaving it up to chance. Growers shouldn't have to hope for the best; they can make this 'best' their reality. But one of the biggest advantages of artificial intelligence is that it makes it possible for growers to create and breed new, customized strains. As the legal marijuana market continues to expand, access to a variety of strains ensures that all consumers can benefit from the remarkable and healing powers of cannabis. And once growers perfect their new strains, they can then use AI to lock in the correct watering, lighting, and temperature schedules that will aid in the cultivation and production of a diverse range of plants. Recommendation apps For many of us, our smartphones were our earliest introductions to artificial intelligence. We've become so accustomed to their convenience that we can't imagine our lives without them. This is exactly why they were created — to make our lives better. Think about the last time you shopped online. As you were shopping, the store probably sent you some 'recommended' items to view. Were they scarily accurate? This wasn't by mistake. By using AI, brands can analyze your preferences and interests and pull items from their store they also think you'd like. While this may seem a bit eerie at first, we've eventually come to love these recommendations. Instead of spending hours browsing a site, the brands are doing the heavy lifting for us and pulling the products we'll have the most interest in. The cannabis industry can take advantage of these same benefits. Certain apps like can help medical marijuana users traverse the world of legal cannabis. What experience do you hope to get from a cannabis product? Do you use it to alleviate a physical injury? Do you need it to help you sleep better at night? Are you a creative person and want to gain some inspiration? Recommendation apps can pull information about you and use it to offer insight into new strains you might like to try. Uppy This sort of capability is so invaluable because it enriches our experience and can transform our lives. Better customer experience/service While artificial intelligence has many benefits for companies, its central mission is improving the customer experience. If you've ever browsed a marijuana company's website and interacted with a chatbot, there's a good chance you spoke . And chances are you probably didn't even realize you weren't talking to a real person. with a digital budtender that was powered by AI This is how powerful artificial intelligence has become. And now, would rather speak with a chatbot than a human because it saves time, and these chatbots can often be more knowledgeable. over half of people Consumers — especially new cardholders — often have a lot of questions about different products at the onset yet are too intimidated and embarrassed to walk into a dispensary and approach an employee for answers. Digital budtenders can help walk people through these questions online while also providing them with insight into the cannabis products that will best fit their needs. As customers feel more comfortable, they will begin interacting with your company more and more, which will result in a higher number of sales. Additionally, brands can also to have this same impact in-store. By placing a QR code on your packaging, a dispensary can equip customers with all of the information they should know about a product: potency, expected effects, user reviews, lab testing, etc. And because they don't have to approach a person with all their questions, this could also lead to more sales. take advantage of tools like QR codes Artificial intelligence isn't just a revolutionary technology; it’s the future of business. Companies that implement this transformative technology do so not only to the benefit of their organizations but also to their customers.

How AI Is Catapulting Cannabis into the Future

Interview With Cosmas Wong: Don’t Fear Skynet, Libra Catapulted Crypto Awareness in Masses

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As Bitcoin rockets past a new high of $75,000, the crypto world is abuzz with excitement and speculation. Donald Trump, one of the most crypto-friendly candidates in recent memory, is poised to make a historic impact on the industry if he wins the presidency. His pro-crypto stance, alongside his vision for transforming the financial landscape, could be a game-changer for digital assets. Many see this as the beginning of a new era for crypto—a potential turning point that could catapult the U.S. to the forefront of the digital currency space, attracting investments and talent from around the globe. But what might this future look like in practice? And how could Trump’s allies, like the influential Elon Musk, play a part in shaping it? Let’s dive into some of the possibilities and what they could mean for crypto enthusiasts, investors, and businesses around the world. Here’s a look at what a Trump victory might bring to the world of cryptocurrency. What Trump’s Victory Could Mean for Crypto If Trump includes Elon Musk in his administration, the impact on crypto could be profound. Musk, well-known for his outspoken support of Bitcoin and meme coins like Dogecoin, has an unparalleled influence on digital assets. His tweets alone have moved markets, creating massive price fluctuations across the board. If Musk steps into a governmental role, he could push for progressive regulations that could mainstream crypto on an unprecedented level, combining his advocacy with Trump's pro-innovation stance. In addition to a potential Musk presence, a Republican majority in both the Senate and House of Representatives could lead to an environment highly conducive to crypto growth. Currently, the numbers are stacked in crypto’s favor: 215 pro-crypto candidates in the House versus 105 opposed, and in the Senate, 14 supporters to nine opponents. This tilt could allow for new, favorable legislation, creating a friendlier environment for digital assets and offering clearer, more predictable regulatory frameworks for companies navigating the space. Trump’s vision of transforming the United States into the world’s crypto capital aligns seamlessly with this potential regulatory shift. By lowering barriers for crypto firms, the U.S. could emerge as the global destination for blockchain talent and investment, challenging crypto-friendly hubs like Singapore and Switzerland. If the administration follows through with its goal of minimizing regulatory hurdles, leading crypto companies might find a new home in America, creating a robust foundation for the industry's growth on U.S. soil. One of Trump’s most ambitious ideas is the creation of a national Bitcoin reserve. If implemented, this strategic reserve could revolutionize the perception of Bitcoin, positioning it alongside traditional assets like gold. Such a move would not only signal a legitimization of Bitcoin on a global scale but could also help stabilize the market, backed by the strength and influence of the United States as a nation. Additionally, Trump has openly criticized the current SEC Chair, Gary Gensler, and has pledged to appoint a new head with a friendlier stance on crypto. A leadership change at the SEC could reduce enforcement actions against crypto firms and bring much-needed clarity on critical issues, such as whether digital assets qualify as securities. This consistency and clarity would be invaluable for industry players, as they seek to comply with regulations without stifling innovation. The Bigger Picture With these shifts, a Trump administration could set the stage for a new chapter in the U.S. crypto landscape, one that could finally establish the country as a global leader in digital assets. So far, the stars seem to be aligning for the crypto industry in a potential Trump administration, especially given the global race towards Central Bank Digital Currencies (CBDCs). However, only time will reveal whether Trump’s promises will come to fruition—and if Democrats will accept the election results. As Bitcoin rockets past a new high of $75,000, the crypto world is abuzz with excitement and speculation. Donald Trump, one of the most crypto-friendly candidates in recent memory, is poised to make a historic impact on the industry if he wins the presidency. His pro-crypto stance, alongside his vision for transforming the financial landscape, could be a game-changer for digital assets. Many see this as the beginning of a new era for crypto—a potential turning point that could catapult the U.S. to the forefront of the digital currency space, attracting investments and talent from around the globe. But what might this future look like in practice? And how could Trump’s allies, like the influential Elon Musk, play a part in shaping it? Let’s dive into some of the possibilities and what they could mean for crypto enthusiasts, investors, and businesses around the world. Here’s a look at what a Trump victory might bring to the world of cryptocurrency. What Trump’s Victory Could Mean for Crypto What Trump’s Victory Could Mean for Crypto If Trump includes Elon Musk in his administration, the impact on crypto could be profound. Musk, well-known for his outspoken support of Bitcoin and meme coins like Dogecoin, has an unparalleled influence on digital assets. His tweets alone have moved markets, creating massive price fluctuations across the board. If Musk steps into a governmental role, he could push for progressive regulations that could mainstream crypto on an unprecedented level, combining his advocacy with Trump's pro-innovation stance. Elon Musk In addition to a potential Musk presence, a Republican majority in both the Senate and House of Representatives could lead to an environment highly conducive to crypto growth. Currently, the numbers are stacked in crypto’s favor: 215 pro-crypto candidates in the House versus 105 opposed, and in the Senate, 14 supporters to nine opponents. This tilt could allow for new, favorable legislation, creating a friendlier environment for digital assets and offering clearer, more predictable regulatory frameworks for companies navigating the space. Trump’s vision of transforming the United States into the world’s crypto capital aligns seamlessly with this potential regulatory shift. By lowering barriers for crypto firms, the U.S. could emerge as the global destination for blockchain talent and investment, challenging crypto-friendly hubs like Singapore and Switzerland. If the administration follows through with its goal of minimizing regulatory hurdles, leading crypto companies might find a new home in America, creating a robust foundation for the industry's growth on U.S. soil. One of Trump’s most ambitious ideas is the creation of a national Bitcoin reserve . If implemented, this strategic reserve could revolutionize the perception of Bitcoin, positioning it alongside traditional assets like gold. Such a move would not only signal a legitimization of Bitcoin on a global scale but could also help stabilize the market, backed by the strength and influence of the United States as a nation. national Bitcoin reserve Additionally, Trump has openly criticized the current SEC Chair, Gary Gensler, and has pledged to appoint a new head with a friendlier stance on crypto. A leadership change at the SEC could reduce enforcement actions against crypto firms and bring much-needed clarity on critical issues, such as whether digital assets qualify as securities. This consistency and clarity would be invaluable for industry players, as they seek to comply with regulations without stifling innovation. criticized The Bigger Picture The Bigger Picture With these shifts, a Trump administration could set the stage for a new chapter in the U.S. crypto landscape, one that could finally establish the country as a global leader in digital assets. So far, the stars seem to be aligning for the crypto industry in a potential Trump administration, especially given the global race towards Central Bank Digital Currencies (CBDCs). However, only time will reveal whether Trump’s promises will come to fruition—and if Democrats will accept the election results. global race

Could Trump Make Crypto Great Again?

Ці можа Трамп зноў зрабіць криптовалюту вялікай?

Trump podria tornar a fer que la criptografia sigui fantàstica?

¿Podría Trump hacer que las criptomonedas vuelvan a ser grandiosas?

آیا ترامپ می تواند کریپتو را دوباره عالی کند؟

האם טראמפ יכול להפוך את הקריפטו לגדול שוב?

トランプは暗号通貨を再び偉大なものにできるか？

Trump Akoki Kosala Lisusu Crypto Munene?

Trump ສາມາດເຮັດໃຫ້ Crypto ຍິ່ງໃຫຍ່ອີກເທື່ອຫນຶ່ງບໍ?

Kan Trump crypto weer geweldig maken?

¿Trump Cryptota Yapamanta Hatun Ruwayta Atinmanchu?

A mund ta bëjë Trump përsëri të shkëlqyeshëm Crypto-n?

特朗普能让加密货币再次伟大吗？

Bitcoin. Rushing to $72,000. The name evokes decentralized revolution and… frustratingly slow, expensive transactions. While Bitcoin's core technology is undeniably revolutionary, its scalability has long been a major hurdle. Enter the Lightning Network: a game-changer poised to catapult Bitcoin into the mainstream and redefine finance. Forget the technical mumbo-jumbo. The Lightning Network isn't just another layer-2 solution; it's Bitcoin's secret weapon, a high-speed express lane built directly on the existing highway. It uses clever off-chain payment channels and smart contracts to enable near-instantaneous, incredibly cheap transactions, all while maintaining Bitcoin's core principles of decentralization and security. Why is this a Big Deal? Imagine using Bitcoin to buy coffee. Transaction fees could easily exceed the cost of the drink itself. This isn't hyperbole; it's the reality of Bitcoin's current limitations. The Lightning Network obliterates this. We're talking micropayments – transactions measured in satoshis (1 BTC = 100 million satoshis) – becoming not just possible, but practical. This isn't just about convenience; it unlocks Bitcoin's full potential. Consider: Global Microtransactions: Cross-border remittances as seamless as texting. The Lightning Network makes this a reality.
Decentralized Apps (dApps) on Steroids: Lightning's speed and low fees create fertile ground for a new generation of dApps, far surpassing current blockchain limitations.
The Death of Payment Gateways: Peer-to-peer payments, bypassing centralized intermediaries, empower individuals and businesses. The Numbers Don't Lie Bitcoin's main blockchain processes roughly seven transactions per second. Visa handles thousands. The Lightning Network? With 48,620 active payment channels (as per 1ML's data), its theoretical throughput reaches a staggering 24.31 million transactions per second. And that number can increase as more nodes and channels join the network. Source: https://glossary.blockstream.com/lightning-network/ The graphic's LN TPS (500 TPS x 85,000 channels) uses outdated channel data (current: 48,620). This isn't just theoretical. The average Bitcoin transaction fee hovers around $1. During peak periods, it soared to $125! With Lightning, a $100 transaction might cost less than a cent. Beyond Speed and Cost: The P2P Revolution The Lightning Network isn't just faster transactions; it's the cornerstone of a truly decentralized, peer-to-peer economy. It's the infrastructure for a world where individuals and businesses transact directly, cutting out the middlemen and fostering a more equitable, efficient financial system. Furthermore, transactions on the Lightning Network don't directly record on the blockchain, enhancing user privacy. This is further improved by innovations like Nervos CKB's Fiber Network, which plans to implement PTLC (Point Time Locked Contracts) building on HTLC (Hash Time Locked Contracts) to enhance privacy even further by using different secret values at each hop in the payment path. The Road Ahead: Stablecoins and Mass Adoption While impressive, the Lightning Network's full potential remains untapped. Integrating stablecoins – cryptocurrencies pegged to stable assets like the US dollar – is crucial for mass adoption. This will mitigate Bitcoin's price volatility, making the Lightning Network far more attractive for everyday users and businesses. Initiatives like Lightning Labs' work on LND support for Taproot Assets-based stablecoins and Nervos CKB's Fiber Network's inherent support for custom assets, including stablecoins like Stable++, are paving the way for this integration and will unlock the full potential of the Lightning Network. Source: https://mempool.space/graphs/lightning/capacity#all The Verdict? The Lightning Network isn't just a technological upgrade; it's a paradigm shift. It's the catalyst for Bitcoin's evolution from a volatile store of value to a ubiquitous, everyday payment system. While challenges remain, the potential is undeniable. This isn't just about Bitcoin's future; it's about the future of finance itself. Buckle up. The ride is about to get a whole lot faster. Bitcoin. Rushing to $72,000. The name evokes decentralized revolution and… frustratingly slow, expensive transactions. While Bitcoin's core technology is undeniably revolutionary, its scalability has long been a major hurdle. Enter the Lightning Network: a game-changer poised to catapult Bitcoin into the mainstream and redefine finance. Forget the technical mumbo-jumbo. The Lightning Network isn't just another layer-2 solution; it's Bitcoin's secret weapon, a high-speed express lane built directly on the existing highway. It uses clever off-chain payment channels and smart contracts to enable near-instantaneous, incredibly cheap transactions, all while maintaining Bitcoin's core principles of decentralization and security. Why is this a Big Deal? Imagine using Bitcoin to buy coffee. Transaction fees could easily exceed the cost of the drink itself. This isn't hyperbole; it's the reality of Bitcoin's current limitations. The Lightning Network obliterates this. We're talking micropayments – transactions measured in satoshis (1 BTC = 100 million satoshis) – becoming not just possible, but practical. This isn't just about convenience; it unlocks Bitcoin's full potential. Consider: Global Microtransactions: Cross-border remittances as seamless as texting. The Lightning Network makes this a reality. Decentralized Apps (dApps) on Steroids: Lightning's speed and low fees create fertile ground for a new generation of dApps, far surpassing current blockchain limitations. The Death of Payment Gateways: Peer-to-peer payments, bypassing centralized intermediaries, empower individuals and businesses. Global Microtransactions : Cross-border remittances as seamless as texting. The Lightning Network makes this a reality. Global Microtransactions Decentralized Apps (dApps) on Steroids : Lightning's speed and low fees create fertile ground for a new generation of dApps, far surpassing current blockchain limitations. Decentralized Apps (dApps) on Steroids The Death of Payment Gateways : Peer-to-peer payments, bypassing centralized intermediaries, empower individuals and businesses. The Death of Payment Gateways The Numbers Don't Lie The Numbers Don't Lie Bitcoin's main blockchain processes roughly seven transactions per second. Visa handles thousands. The Lightning Network? With 48,620 active payment channels (as per 1ML's data), its theoretical throughput reaches a staggering 24.31 million transactions per second. And that number can increase as more nodes and channels join the network. Source: https://glossary.blockstream.com/lightning-network/ Source: Source: https://glossary.blockstream.com/lightning-network/ https://glossary.blockstream.com/lightning-network/ https://glossary.blockstream.com/lightning-network/ The graphic's LN TPS (500 TPS x 85,000 channels) uses outdated channel data (current: 48,620). The graphic's LN TPS (500 TPS x 85,000 channels) uses outdated channel data (current: 48,620). The graphic's LN TPS (500 TPS x 85,000 channels) uses outdated channel data (current: 48,620). This isn't just theoretical. The average Bitcoin transaction fee hovers around $1. During peak periods, it soared to $125! With Lightning, a $100 transaction might cost less than a cent. Beyond Speed and Cost: The P2P Revolution The Lightning Network isn't just faster transactions; it's the cornerstone of a truly decentralized, peer-to-peer economy. It's the infrastructure for a world where individuals and businesses transact directly, cutting out the middlemen and fostering a more equitable, efficient financial system. Furthermore, transactions on the Lightning Network don't directly record on the blockchain, enhancing user privacy. This is further improved by innovations like Nervos CKB's Fiber Network, which plans to implement PTLC (Point Time Locked Contracts) building on HTLC (Hash Time Locked Contracts) to enhance privacy even further by using different secret values at each hop in the payment path. The Road Ahead: Stablecoins and Mass Adoption While impressive, the Lightning Network's full potential remains untapped. Integrating stablecoins – cryptocurrencies pegged to stable assets like the US dollar – is crucial for mass adoption. This will mitigate Bitcoin's price volatility, making the Lightning Network far more attractive for everyday users and businesses. Initiatives like Lightning Labs' work on LND support for Taproot Assets-based stablecoins and Nervos CKB's Fiber Network's inherent support for custom assets, including stablecoins like Stable++, are paving the way for this integration and will unlock the full potential of the Lightning Network. Source: https://mempool.space/graphs/lightning/capacity#all Source: https://mempool.space/graphs/lightning/capacity#all https://mempool.space/graphs/lightning/capacity#all The Verdict? The Lightning Network isn't just a technological upgrade; it's a paradigm shift. It's the catalyst for Bitcoin's evolution from a volatile store of value to a ubiquitous, everyday payment system. While challenges remain, the potential is undeniable. This isn't just about Bitcoin's future; it's about the future of finance itself. Buckle up. The ride is about to get a whole lot faster.

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