The primary episode of the “Bit Speak” podcast discusses latest developments on this planet of Bitcoin. Hosted by Akiba and James from CryptoSlate in addition to Bitcoin pioneer Nick from Mercury Pockets, the podcast is a bite-sized, easy-to-consume bi-weekly overview of the Bitcoin community.
This episode begins with the adoption of Bitcoin in Africa, with an increasing number of individuals utilizing the lightning community. The lightning community is a second-layer fee protocol that operates on prime of the Bitcoin blockchain, permitting for sooner and cheaper transactions.
The hosts additionally talk about the state of Bitcoin mining, mentioning that some miners are struggling because of the bear market and the growing problem of mining. The bear market refers back to the decline within the worth of Bitcoin over the previous few years, which has made it tougher for miners to show a revenue.
The podcast additionally features a section known as “Bitcoin Climate” with James from CryptoSlate. On this section, James supplies a short overview of the present state of the Bitcoin market, together with latest worth actions and key developments. This section supplies listeners with a fast and concise abstract of an important on-chain occasions within the Bitcoin world.
The hosts additionally point out that there have been improvements in mining expertise, akin to using different vitality sources and residential mining. Up to now, most Bitcoin mining was accomplished by giant industrial farms, however now there’s a push for extra decentralized and sustainable strategies of mining. For instance, some corporations want to use stranded vitality sources, akin to biomass, to energy their mining operations. This not solely reduces the carbon footprint of mining but in addition makes it extra accessible to people who could not have entry to low-cost electrical energy.
The hosts conclude by discussing the way forward for Bitcoin and the potential for it to grow to be extra mainstream. They point out that Bitcoin nonetheless faces challenges by way of regulation and public notion, however they’re hopeful that these points will probably be resolved over time. In addition they point out that the continued improvement of the lightning community and different applied sciences will play a key position in making Bitcoin extra accessible and user-friendly.