Another forking clone coming.

This one is a bit familiar to Steem members.

Blocks like 3-2-1...

Yes, Lightning Bitcoin is becoming part of the Bitshares, Steem and EOS blockchain family. DPOS, Decentralized Proof Of Stake, is the key here. BCL, BCTL, or BTL will bring 3 second blocks to Bitcoin. Using the name Lightning might cause some confusion though. It is difficult to keep track of all the Bitcoin forking clones being announced, yet this one is really different.

We at Steem already know the power of DPOS. And there already had been the idea to create a Bitshares based ultrafast Bitcoin. And now it looks like it is going to happen somewhere around the 23rd of december 2017. Witness Nodes only need the power of a CPU and some GigaBytes of RAM memory to be able to join in. Another one that makes blocks like 3-2-1 done...

Scaling right away.

It can do about 17 million transactions per day. Although more are possible as the blocksize will be dynamicly adjustable. Announced is 24 million transactions per day. That is about 278 per second. Leaving Bitcoin and all bigger blocks forking clones far behind. This is some serious scaling, compared to the Cash clone more than 10 fold. Even giving the Unlimited one a run for its money.

Is a DPOS based Bitcoin the cheapest?

It could be quite a lot cheaper to do a transaction on the Lightning Bitcoin network. Maybe somewhat in line with the fees on the Bitshares Decentralized Exchange can be expected. Dogecoin would have a strong low fee cost competitor. And lose when it comes to pure speed numbers. Now, where is the free Bitcoin catch?

Support is 90% of the value.

One thing I noticed about multi light wallets like Coinomi and Jaxx are the missing support for DPOS based cryptos. And wallets that are supposed to support Cryptos like Bitshares and its Assets are only working under specific Android conditions. Of course any modern browser makes up for the lack of working DPOS supporting wallets. It can be considered a downside.

Value is created by the usage, a broad support and the ease of use. So even if Dogecoin, still the fast and cheap one, is beaten in speed, scale and fees, it is the wide support that makes it a winner. No matter how outstanding your technology is, scaling beyond belief, if there is no wide adoption it will only be used by the technical understanding. But no mass adoption.

The DPOS challenge.

Lightning Bitcoin could make it, if it got added to multi Crypto supporting light wallets like Coinomi and Jaxx. The most recent Bitcoin forking clones did not even seem to get their spot yet. As far as known BTCL can be used without a blockchain membership like other DPOS Cryptos like Bitshares and Steem have. That would make implementation into multi Crypto light wallets like Coinomi and Jaxx much easier.

If Lightning Bitcoin can pull this one off, than it will become a real top market competitor. As wide support, ease of use, ultra fast and cheap transactions will make this one a winner. And this will also put DPOS in the spotlight. Which is also good for Bitshares, Steem and EOS. Looks like the DPOS invention of Daniel Larimer is again going to rock the Cryptos realm.

May the Cryptos be with us!

DPOS does it like 3-2-1 Done!

Screenshot taken at LightningBitcoin dot io.