A report co-authored by Bitcoin scaling firm Breez suggests that Bitcoin is slowly transitioning from being a store of value to being a medium of exchange once again. The report highlights the Lightning Network, a layer two solution for faster and cheaper bitcoin payments, as the technology driving this shift. With Lightning integration in various use cases, Bitcoin has reportedly reached over 650 million people worldwide. The report also compares Bitcoin to stablecoins, stating that stablecoins face risks associated with centralized government control, corruption, and censorship, while Bitcoin's value is determined by decentralized global consensus. The report acknowledges that while many people have access to Bitcoin, not all of them use it as a medium of exchange. However, it argues that Bitcoin can function as digital gold in some regions and digital cash in others.



Other News from Today