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Category: Volume I

The Locked Protocol

“The nature of Bitcoin is such that once version 0.1 was released, the core design was set in stone for the rest of its lifetime.” — Satoshi Nakamoto, June 17, 2010 (Nakamoto 2010). What does “locked……...

Read more... The full content of this chapter is available in the two-volume book:

Bit & Coin

Merging Digitality and Physicality

Volume I: Digital Humanity’s Truth Layer - The New Internet, its Authenticity Layer, and Applications 
Order on Amazon

Volume II: Bitcoin, Blockchain, and Beyond - Essays of Science, Economics, Law, Ethics, and Controversies Order on Amazon (coming soon)

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The Necessary Scalability of Layer-1 on Blockchain

Blockchain has opened up many possible applications, including payments, tokenization, smart contracts, and, in general, data access management. For beginners, Matt Levine’s recent article, “The Crypto Story,” published on Bloomberg, is a good read. It……...

Read more... The full content of this chapter is available in the two-volume book:

Bit & Coin

Merging Digitality and Physicality

Volume I: Digital Humanity’s Truth Layer - The New Internet, its Authenticity Layer, and Applications 
Order on Amazon

Volume II: Bitcoin, Blockchain, and Beyond - Essays of Science, Economics, Law, Ethics, and Controversies Order on Amazon (coming soon)

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Layer-1 and Layer-2 – Why the Current Layer-2 Solutions Won’t Work

Bitcoin Core (BTC) and Ethereum’s failure to scale has opened the doors for various layer-2 (L2) solutions. The supporters of these unscalable blockchains set their hopes on L2 solutions in no small measure. Because these……...

Read more... The full content of this chapter is available in the two-volume book:

Bit & Coin

Merging Digitality and Physicality

Volume I: Digital Humanity’s Truth Layer - The New Internet, its Authenticity Layer, and Applications 
Order on Amazon

Volume II: Bitcoin, Blockchain, and Beyond - Essays of Science, Economics, Law, Ethics, and Controversies Order on Amazon (coming soon)

Already a member? Log in here

Lightning Network on BTC is a Dead-End

Lightning Network (LN) is a separate payment network built on top of the BTC blockchain and is claimed to solve BTC’s low scalability and high transaction fee problems. BTC is an unscalable version forked from……...

Read more... The full content of this chapter is available in the two-volume book:

Bit & Coin

Merging Digitality and Physicality

Volume I: Digital Humanity’s Truth Layer - The New Internet, its Authenticity Layer, and Applications 
Order on Amazon

Volume II: Bitcoin, Blockchain, and Beyond - Essays of Science, Economics, Law, Ethics, and Controversies Order on Amazon (coming soon)

Already a member? Log in here

The Structural Impact of The Cost of Transaction (CoT)

The merging of digitality & physicality is not a mere theory. The implementation and adoption require several key factors that work together to impact everything. Among them are unbounded scalability and extremely low cost of……...

Read more... The full content of this chapter is available in the two-volume book:

Bit & Coin

Merging Digitality and Physicality

Volume I: Digital Humanity’s Truth Layer - The New Internet, its Authenticity Layer, and Applications 
Order on Amazon

Volume II: Bitcoin, Blockchain, and Beyond - Essays of Science, Economics, Law, Ethics, and Controversies Order on Amazon (coming soon)

Already a member? Log in here

Micropayments and Data Transactions

Payment, especially micropayment, is of fundamental importance in blockchain and in merging physicality and digitality. It is not just an improvement of the existing payment system (see the chapter “Payment Must Change—Credit Card Is A……...

Read more... The full content of this chapter is available in the two-volume book:

Bit & Coin

Merging Digitality and Physicality

Volume I: Digital Humanity’s Truth Layer - The New Internet, its Authenticity Layer, and Applications 
Order on Amazon

Volume II: Bitcoin, Blockchain, and Beyond - Essays of Science, Economics, Law, Ethics, and Controversies Order on Amazon (coming soon)

Already a member? Log in here

Payment Must Change – Credit Intermediation is a Systemic Rip-off

The global economy is defined by its payment system. But a fundamental anomaly burdens the present payment system: Credit intermediation. The two biggest financial systems that owe their very existence to credit intermediation are: Both……...

Read more... The full content of this chapter is available in the two-volume book:

Bit & Coin

Merging Digitality and Physicality

Volume I: Digital Humanity’s Truth Layer - The New Internet, its Authenticity Layer, and Applications 
Order on Amazon

Volume II: Bitcoin, Blockchain, and Beyond - Essays of Science, Economics, Law, Ethics, and Controversies Order on Amazon (coming soon)

Already a member? Log in here

Bitcoin as the Universal Language for Value Transaction

Currency is language, and speaking a foreign language is hard. Bitcoin should be spent as cash. That is the original intent of Satoshi Nakamoto, and the continued design and development effort made with Bitcoin SV….…...

Read more... The full content of this chapter is available in the two-volume book:

Bit & Coin

Merging Digitality and Physicality

Volume I: Digital Humanity’s Truth Layer - The New Internet, its Authenticity Layer, and Applications 
Order on Amazon

Volume II: Bitcoin, Blockchain, and Beyond - Essays of Science, Economics, Law, Ethics, and Controversies Order on Amazon (coming soon)

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Hosting the Web on Blockchain

As described in PART 3 System and Architecture, especially chapters “USSoT, IP-to-IP, SSI, and the True Web3,” “The New Internet and Blockchain,” and “Integration of IPv6 and Blockchain,” the blockchain can be integrated with the……...

Read more... The full content of this chapter is available in the two-volume book:

Bit & Coin

Merging Digitality and Physicality

Volume I: Digital Humanity’s Truth Layer - The New Internet, its Authenticity Layer, and Applications 
Order on Amazon

Volume II: Bitcoin, Blockchain, and Beyond - Essays of Science, Economics, Law, Ethics, and Controversies Order on Amazon (coming soon)

Already a member? Log in here

Tokenization of Everything – Building Economies on the ‘Land’ of Bitcoin

Many of the transformations caused by the merging of physicality and digitality on the blockchain are enabled by tokenization. Unlimited use cases are being made possible. Unfortunately, tokenization has become a buzzword, leading to the……...

Read more... The full content of this chapter is available in the two-volume book:

Bit & Coin

Merging Digitality and Physicality

Volume I: Digital Humanity’s Truth Layer - The New Internet, its Authenticity Layer, and Applications 
Order on Amazon

Volume II: Bitcoin, Blockchain, and Beyond - Essays of Science, Economics, Law, Ethics, and Controversies Order on Amazon (coming soon)

Already a member? Log in here