In a step to curbing all fraud and criminality elements of social media scam/Ponzi schemes, the government of Nigeria through it agency "Economy and Financial Crime Commission" (EFCC) has paraded some founders of Ponzi schemes. What they do is to acquire sensitive information from unscrupulous individuals with a promise of high return on investment (ROI) and swept away their various accounts funds and valuables informations, some of them are hackers, imposters and scammers. Let's raise a campaign as against this inhumane act. |
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It's a good idea and I look forward to tapping into such, a time is coming when most business transactions will be on crypto. Through this, you're advertising yourself to your respective customers on crypto and with time you will get attracted to other people who are into crypto to patronize or partner with you.
You can as well canvas customers without access to Internet and crypto technical knowledge that they can invest their money and yet get some returns over it with time unlike the commercial banks, but you must have built a level of credible trust from the community around you before this can be achieved.
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This is not funny at all, when the government is contributing less on the youths, yet still imposing sanction on having huge amount in ones account as EFCC collaborate with banks to query our source of income, I swear dem go search tired. Where is my govt at my young and tender age striving for survival, huzzling from street to street, doing hard labour to earn a living, scotting in my friends house, having 010 as daily meal, yet after the hustle and bustle God answered my prayers and bless me with divine connection, now I dey hammer but my govt in hunt of me on how I take hammer. I could also remember sometimes back when a president could not even present a WAEC result and nothing happened, politicians loot funds and win case just to mention few, police brutality, bribery and corruption among other vices. In UK, I also learnt that when a child is born the government takes full responsibility of the child with a monthly stipend till he attain the age of 18 years, I would love to title this epistle "A Patriotic Nigerian" but the news thread I came about couldn't let me, it read thus... "EFCC urges banks to query customers source of income". |
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It's possible you can get crypto without using your money, be rest assured that one of the ways is this Bitcointalk forum you're in, your services and contributions on this platform with time turns to be the crypto you could ever desired for, don't think you can just earn crypto freely without rendering any service else you're being gifted by someone. Below are the possible means of crypto acquisition that might interest you and giving it a trial get you an upper egde towards your journey to getting crypto. All that is needed is your service and you get crypto in return, remember even in Freetown nothing is free |
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Am looking forward to seeing my fellow Nigerian youths trooping into crypto investment with their assets, this got me motivated this noon as I come across the news thread on how the American youths are madly falling inlove to crypto investment of their assets and I know that with clearer understanding of this, our own naija youths will choose crypto over the traditional Fiat system. Another interesting fact about this is when you save your assets with banks, you get no or little return over it, considering if it were to be crypto asset investment, trust me you will be excited, but if I borrow money from banks, we all know how tough the steps and requirements, terms and conditions and the consequences for non repayment. My beloved brothers, here is the challenge I bring to us all on investing our assets on crypto (btc). |
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While coming on this news thread talking about Bitcoin ATM, am a bit confused how possible is that going to be considering it's decentralization and not being control or monitored by Government itself, the idea behind it's anti-money laundering is good and the KYC requirements fit in the right projection. But if ATM machines were available to initiate transactions it's a good and a welcome idea, but will the machine also be responsible to dispense btc in form of coin?... Or whats is the main general idea behind the use of btc ATM? Major Bitcoin (BTC) ATM operators in the United States are joining forces to fight illicit activity related to Bitcoin ATMs.
Bitcoin ATM operators DigitalMint and Coinsource have launched the Cryptocurrency Compliance Cooperative (CCC), a new association that aims to establish compliance standards for the Bitcoin ATM industry.
The new compliance effort has launched with support from major blockchain analytics firms, such as Chainalysis and Elliptic, among its 15 initial members. The CCC is now encouraging participation from cash-based crypto money services businesses, regulators, financial institutions, as well as non-state and law enforcement agencies.
The association specifically targets Bitcoin ATMs to ensure Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance, as this type of ATMs is often associated with a lack of KYC requirements. “Unfortunately, many BTM operators feel that merely asking for a cell phone number is enough due diligence to absolve them of their mandated KYC requirements,” Coinsource head of compliance Bo Oney said.
“Such lax provisions provide a safe haven for bad actors to abuse the machines for nefarious purposes. The CCC is seeking to bolster regulatory requirements for the benefit of all BTM users and operators. This will require input from the most knowledgeable in the industry, all with the goal of making the cash-to-crypto space as safe as possible for consumers,” he added.
Seth Sattler, director of compliance for DigitalMint and leading CCC contributor, said that illicit use cases related to the Bitcoin ATM industry are well documented by several law enforcement agencies, including fraud, elder abuse and drug and human trafficking.
“While a small number of Bitcoin ATM operators go above and beyond with KYC and AML protocols, others in the cash-to-crypto industry simply turn a blind eye and are complacent to these bad actors by simply applying the bare minimum customer protections, which in many cases allow for completely anonymous transactions,” Sattler noted.
Similar to a traditional ATM, a Bitcoin ATM, or a BTM, is a kiosk allowing users to purchase or sell Bitcoin and other cryptocurrencies by using cash or debit card. According to data by BTM tracking website How Many Bitcoin ATMs, there are currently more than 42,000 BTMs in the United States.
In February, the State of New Jersey Commission of Investigation discovered that 75% of the BTM operators in the state allowed certain transactions without requiring the customer to provide any information outside a cell phone number. Last year, an executive from blockchain analytics firm CipherTrace predicted that Bitcoin ATMs would face stricter regulations worldwide, with countries including Canada and Germany already moving to strengthen necessary AML regulations. “Many BTM operators feel that merely asking for a cell phone number is enough due diligence to absolve them of their mandated KYC requirements,” a Coinsource exec said. https://cointelegraph.com/news/bitcoin-atm-operators-set-up-association-to-counter-money-laundering |
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The Daily Hodl Spanish Police Raid Suburban House Allegedly Running Illegal Crypto Operation, Seize Over 100 Miners Daily Hodl Staff August 25, 2021 Spain’s National Police say they have dismantled an alleged illegal cryptocurrency mining operation that was being run from a residential property. A tweet from Spain’s National Police account says that over 100 machines were being used in the crypto mining operation in the Spanish city of Toledo. |
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One of the disadvantages of crisis is the disruptive capacity invoked on the economy and development, as a result of taliban terror act in Afghanistan, most of the opportunities embedded in their crypto development is flapping already as people are now fleeing away for safety other than risking their lives, this good and vibrant minner was accused of an illegal migration in a run for safety. An Afghan refugee who had planned to start a crypto mining business has been arrested in Turkey after illegally crossing the border.
According to a Reuters report, Muhammad Ali’s goal was to mine Bitcoin (BTC) or Ether (ETH) in Afghanistan before the recent Taliban takeover, when he was forced to flee the country. He claimed that with the restrictions on personal liberties the group was likely to impose, smartphones with cameras could easily be deemed illegal, and internet access could be compromised.
Ali, who previously had a YouTube channel where he discussed financial topics, reportedly left Afghanistan amid the Taliban gaining control of major populated areas, traveled across northern Iran, and crossed the Turkey-Iran border — a journey of more than 2,000 km. However, he reported his group had been ”arrested by police” shortly after entering Turkey.
Reports out of Afghanistan suggest hundreds of thousands of people are attempting to flee the country amid the full withdrawal of the U.S. military: some awaiting foreign governments to process visas so they can fly out of Kabul’s airport, while others like Ali attempt to escape on land. Though Turkish authorities are reportedly not sending refugees caught illegally crossing the Turkey-Iran border back to Afghanistan, they are being deported to Iran.
Though Ali had expressed concern about Afghans’ access to smartphones and the internet, for the moment information is still making its way out of the country via social media and other channels. For example, someone posted a video showing a group of women protesting in Kabul as Taliban soldiers watched, and others claimed the Taliban burned down an amusement park shortly after riding the rides.
The students with Code to Inspire, a school aiming to educate Afghan girls on coding and robotics, are “still coding at home” as of Aug. 20, according to founder Fareshteh Forough. However, the situation in the country is seemingly unstable as reports of assault, murder, and human rights violations circulate while the Taliban expands its foothold.
As of today, President Joe Biden said the U.S. military is still on track to withdraw from Afghanistan by Aug. 31, the deadline on which an agreement was reached with the Taliban.
The Afghan refugee believed the Taliban would restrict access to smartphones and the internet, making crypto mining impossible. https://cointelegraph.com/news/amid-taliban-takeover-aspiring-crypto-miner-flees-afghanistan |
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The beer company seems to be taking another step into the crypto and blockchain space with these latest buys. https://cointelegraph.com/news/budweiser-uses-120k-to-purchase-fan-art-nft-and-beer-eth-domainBudweiser, a subsidiary of Anheuser-Busch InBev, appears to have unofficially sanctioned a piece of nonfungible token, or NFT, art after purchasing it for use on its Twitter profile. According to records from the OpenSea marketplace, the beer producer purchased a Budweiser-branded rocketship NFT on Aug. 24 for 8 Ether (ETH), or roughly $25,704. The company used the “Life of the Party” image, featuring three beer cans making up the body of a rocketship, for its official Twitter profile picture. At the time of publication, Budweiser’s 224,900 followers can still view the image. Acknowledging the NFT’s creator, Tom Sachs, with a retweet, Budweiser seems to be taking another step into the crypto and blockchain space with this latest purchase. On Aug. 11, the company also bought the domain name Beer.eth through Ethereum Name Service on OpenSea for 30 ETH, or more than $96,000 at the time of publication. Different beer companies operating under Anheuser-Busch InBev have been entering the digital space. In June, the U.K. arm of pilsner beer brand Stella Artois released a series of branded skin NFTs to be used on horses in the digital racing game Zed Run. Last year, Anheuser-Busch InBev piloted a platform allowing customers to track the supply network of their beers on the blockchain. It's a good news now as some of the recognized industries like Budweiser are also interested in crypto, not only that but also make a purchase on etherum NFT art for it's usage on their Twitter page, though the act was sanctioned but the impact will remain on a good footage, they understand crypto is what is trending and needee how to canvas the teaming populace on the media with such an interesting step of action, it may sound stupid by the company but the message |
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I read a news few days ago, there has been so many news I have also red in the past. We remembered vividly when Boko Haram, one of the deadliest terrorists in the world kidnapped Dapchi schoolgirls, the rate of kidnapping has increased in Nigeria after since then  , bandits are kidnapping kings, even they kidnapped school children, if we can remember the one that happened in Katsina, and few others, kidnap  ing has now been taken as job in Nigeria, which is very wrong but the Nigerian economy is getting worse day after day. What I have noticed is that the ransom demanded for are in Naira, why are they not demanding for cryptocurrencies like Bitcoin? |
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I've learnt that human needs are insatiable, some thinking to have hold their Bitcoin in their respective wallets years back forgetting that we have needs and wants and the needs are inevitable, I never regret not investing on Bitcoin when it was 15000 dollars back then, but what I do now is to trade and track the market strategy and movement to always hit while the iron is hot.
My costly experience here is getting involved in some fake bounties and unrealistic campaign created by fraudulent groups of people I would have devoted my time, data, and skills on such but later get flagged out red as scam what a pity, pls let's beware of flashy things too exciting to be real as most are fake and fraudulent.
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I negate the notion for high risk equivalent to high return, let take a look from this direction, the difference between the skills and unskilled labour, who take the most risk in service delivery, all the skilled labour need to do is plan, arrange and organize a structure and give directions for proceedings, but the unskilled labour will be the ones to carried out the task, market it, advertise it, and had a direct contact with the buyers, and in the case of the craftsmanship, they use their energy, labour to achieve a desired work specification under the sun or in the rain to ensure the task is done, the unskilled labour get little pay while the skilled labour is paid higher in most business settings.
Physical hard works and labour is not equivalent to getting rich or high return or earnings but a constructive "idea" does, having a good ideology can bring a solution to a lingering problem over years. Another interesting fact is that the higher the risk the higher the return is not applicable in crypto as it mostly sounds to be a signal to scams and fraudulent schemes who appear in such manners in the digital world of Cryptocurrency.
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Our entrepreneurship skills is one of the major factors that determine a good and successful Bitcoin investment, people lack some business ethics and protocols, but desired a result they never merit for, why is because you can't afford to loose anything that cost you and what cost you makes value to you and having the required value constitutes your skills. You are expected to exhibit the underlisted competencies as an investor to make your crypto journey itch free. Business management skills
Teamwork and leadership skills
Communication and listening
Customer service skills
Financial skills
Analytical and problem-solving skills
Critical thinking skills
Strategic thinking and planning skills
Technical skills
Time management and organizational skills
Branding, marketing and networking skills https://www.indeed.com/career-advice/career-development/entrepreneurial-skills |
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Major cryptocurrency exchange Binance is pushing back against allegations of market manipulation and working against the interest of its users. In a Monday Twitter thread, Binance seemingly laid the blame for any claims of manipulating the crypto market on publications spreading fear, uncertainty and doubt, as well as certain individuals impersonating employees at the exchange. The firm said it “reserves the right to take legal action to protect its interests,” but was not opposed to “responsible whistle-blowing that protects the trust of our community.” “Binance has never traded against our users nor manipulated the market, and we never will,” said the exchange. It’s unclear if the exchange was referring to any specific incident, but the statement comes after a pseudonymous now-deleted Twitter user under the name RealFulltimeApe alleged on Saturday that Binance “keeps an overview of big liq levels and purposely pumps/dumps the price to take them out for profit.” The user claims to be a former “big data engineer” at the exchange and would be “providing proof soon,” but has not shared any evidence at the time of publication. "I have multiple audio and video files inside the office in which management is CLEARLY talking about 'quickly' liquidating the overleveraged 'longs and shorts' before allowing price to continue up/down, in order to increase the companies' insurance fund & profits," claimed the user. The exchange hinted of legal action against "FUD-peddlers and individuals with malicious intent" threatening its business interests. https://cointelegraph.com/news/binance-denies-allegations-of-market-manipulationBinance Holdings Limited has been the target of authorities in multiple countries including Italy, Malaysia, Poland, Germany, the United Kingdom, the Cayman Islands, Thailand, Canada, Japan, Singapore and the Netherlands, warning investors to exercise caution in regards to the company or claiming it was operating illegally. The warnings from regulators have likely led to some financial institutions no longer allowing customers to send payments to the exchange. The exchange is also the subject of more than one class-action lawsuit alleging it violated its rules on futures trading. Italy-based legal and consulting firm Lexia Avvocati announced in July it was representing investors who lost “tens of millions” of dollars due to not being able to manage their trading positions and view their balances due to the crypto exchange going offline for several hours on different days. Liti Capital, a Switzerland-based litigation funding provider, has made similar allegations in a separate class-action lawsuit filed in August. Reliability and customers service satisfaction is one of the key controlling factors to standing out good in a business, one of the most effective and versatile exchange "Binance" well known for it reliability and credible professionalism in Cryptocurrency denies the allegation made on it to have participated in trading against it users neither does it involve in any form of manipulations. Do you think Binance can do such a ridiculous act to tarnish it already built reputation...? Hackers, scammers, and imposters were behind the ugly scenes but with time they would be track down. |
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George Residence in Lagos has announced plans to start accepting BTC payments. The company has already converted 50% of its balance sheet to Bitcoin.
A luxury hotel in Lagos, Nigeria will reportedly accept Bitcoin (BTC) as a form of payment and adopt the digital asset as its primary reserve currency as concerns about inflation continue to grip Africa’s largest economy.
George Residence confirmed its intent to begin accepting Bitcoin this weekend, according to 1st News, a Nigerian news publication. George Residence, which offers luxury hotel and premium apartment suites, will accept BTC through Coinvest Africa, a regional cryptocurrency brokerage.
"We have allocated around 50% of our cash reserves to Bitcoin. [...] We hope to increase that as time goes on,’’ said ‘Yanju George, the company’s CEO. “Bitcoin is the currency of the future and it is only right that we are strongly positioned so we do not get left behind.”
He continued:
“Bitcoin permits our guests a faster and more secure way to enjoy the comfort we offer. Our residents desire simplicity, and we are excited to be able to offer that to them.”
Nigeria’s inflation rate has been in the double digits since 2016. Recently, it peaked at 17.33% — the highest since February 2017 — as the economic impacts of COVID-19 and a weakening local currency continue to take their toll.
Inflation is one of the reasons why Nigeria has become the bastion of crypto adoption in Africa. Since 2015, Nigerians have traded over 60,200 BTC on Paxful, a crypto peer-to-peer trading platform, second only to the United States.
The legal status of cryptocurrencies is being disputed in Nigeria after the central bank banned financial services companies from servicing digital currency exchanges. However, Edward Lamekek Adamu, deputy governor of the Central Bank of Nigeria, later clarified that the regulator didn’t ban Nigerians from trading or holding cryptocurrencies.
As Cointelegraph recently reported, the Securities and Exchange Commission of Nigeria is working with the central bank to develop a new legal framework for digital assets. https://cointelegraph.com/news/nigerian-hotel-becomes-country-s-first-to-accept-bitcoin-paymentsThe world of crypto expansion has gain a positive karma even in the developing country like Nigeria, where Bitcoin is set to be used as a means of payment in one of the hotels in Lagos city Nigeria, yes we can see how Nigerians are tripping in for Bitcoin even despite the govt recent ban and how the economy could rely so much in Crypto to make it balance very soon btc adoption will evolve round the nooks and crannies of the developing and under-developed countries. |
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Nigeria News
Nigeria is seventh most populous country, and most populous in Africa. Nigeria also has the largest economy in Africa, with more than $500 billion of nominal gross domestic product. The World Bank considers Nigeria to be an emerging market and is widely seen as a perspective economy. Still, it ranks 152nd in the Human Development Index and has a large variety of problems regarding the lack of education, organized crime and human rights. Bitcoin is legal in Nigeria, but the Nigerian SEC, or Securities and Exchange Commission, warned citizens about cryptocurrency investments being risky and sometimes even fraudulent. However, the Nigeria Deposit Insurance Corporation and the Central Bank of Nigeria have plans to adopt cryptocurrency technology and have several sub-committees working on implementing blockchain into governmental insurance and financial services. https://cointelegraph.com/tags/nigeriaNaija here we come again o It's surprised me seeing this updates on how far my beloved country has gone worldwide with a good and recommendable recognition it has even in the crypto world despite our bad governance, security and high rate of corruption, we are still among the best in Bitcoin, no wonder they call us the giant of Africa, we the youth are no more lazy, as initially purported by our president I quote "lazy Nigerian youths". This makes me to recall the story of Jabez who determine to change his given name and condition, our youths are making us proud in technology and development worldwide as we top most of the tables on good reputation in businesses and innovations. God bless Naija |
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Bitcoin is “back in bull market territory”but traders warn that a retest of underlying support levels is bound to occur soon. There was widespread celebration across the crypto ecosystem on Aug. 23 after the sight of Bitcoin (BTC) back above $50,000 triggered a resurgence of calls for the top cryptocurrency to reach $100,000 before the end of 2021. Data from Cointelegraph Markets Pro and TradingView shows that the early morning bullish momentum that lifted the price of BTC to an intraday high at $50,514 began to wane as the day progressed at currently the price trades slightly above $49,0. https://cointelegraph.com/news/here-s-what-traders-expect-now-that-bitcoin-price-rallied-back-to-50k?utm_source=thecryptoappInterestingly, I come across some post on having invested long time ago prior to this stage Bitcoin has become, I made a comment that it's never too late to do so even now, the more Bitcoin progresses the further some go in it, while considering the most important factor of taking the risk, the entire Bitcoin community is on a smiling face both investors and traders, but for new investors it is advisable to pause and study, as it approaches $50,000 Base on my own predictable analysis, if it reaches anything above 50, then the tendency to reach 60 to 100 within a short or long run is visible. Investing is a game of prediction, if it turn high you gain and if low you loose, but those that venture into it carefully understand the strategy behind it to increase. |
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Looking at your profile it's obvious that you have a lot of function to carry on first as a beginner, things like research, reading the methodologies of the community, because it's better for you to acquire a preferable knowledge first before adventuring inti bigger or looking for guidance without been known the basic concepts of the community, actually your question is nice but I'm not really emphasising on it because i noticed that you have long way to secure first.
Another interesting fact about this is the effect of social media, you have to be active in different platfors that are reasonable enough having most of the responsive followers on your account, create interesting topics, trending news and also build a credible career portfolio. Therefore all you needed for now is to work on yourself first, create standard and professionalism, then yourself and the community will get you into an auction to function. |
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With this step I've taken to invest more of my funds in Bitcoin I hope and believe that I'm going to benefit more like the early adopters who believed in Bitcoin. I just hope the market can reset so I can buy more from a good price. How I wish Bitcoin antagonists could understand what they're missing from the internet gold.
Life is full of opportunities and serves the better ones based on individual effontery, it's a matter of time and chance, if it's your luck then it will work out for you, also think in the other way round, if you had invested a long time ago and wasted lots of resources to fruitless efforts, how would you feel by now? There's still more opportunities btc offers in crypto if you get it right, but don't be overzealous or greedy else you fall in the hands of scammers, as at now, people are still making it well in btc either by investing or trading while yet, some lament for great mistakes. It's never too late to make hay while the sun shine. |
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Expert have bring into written some observable features of block chain and it's scalability from different scope of views, one of the successful attribute contributed by entrepreneur is a future forecast, they perceive it and work towards achieving it, this can be on a short or long run tour, let's give it a listening ears as we hear from what they offer. Multichain solutions will change the blockchain space from an “interesting new technology” to an essential, high-growth industry.
The blockchain industry market size was estimated by some to reach more than $21 billion by 2025. The market capitalization of the cryptocurrency market as a whole already reaches over $1.9 trillion. An ecosystem that was once defined by its tight-knit community and exclusivity now reaches governments, businesses, institutional investors and individuals who are all becoming more positive about the evolving space.
With this new popularity, a crossroads has emerged. We have reached the stage of adoption where the amount of users utilizing decentralized technology has exceeded the functionality of the technology itself. This has resulted in regularly congested networks and a demand for solutions.
Many of the roadblocks we are experiencing could easily be solved with scaling solutions such as bridges, parachains and other features that create seamless transitions for Web 3.0 users and depend solely on a shared vision of a multichain approach to the next wave of blockchain adoption.
Scalability: The Ethereum challenge
Today, nearly all DeFi projects are being built on the Ethereum blockchain, making it the standard default blockchain for many decentralized applications (DApps) and protocols. However, scalability on Ethereum has presented many challenges. The pain points that have delayed adoption include costly gas fees, a complicated onboarding process and unnecessary repetition and obstacles for developers aiming to create new DApps and accompanying products.
As a result, there has been a recent emergence of blockchains such as Binance Smart Chain, Solana, Cosmos, and layer-two solutions like Polygon, that are quickly catching up and solving some of the problems that accompany building on Ethereum. Contrary to popular rhetoric, these solutions are not being implemented to “kill Ethereum” but to provide a multichain approach to building for Web 3.0. The number of blockchains and blockchain projects being built each day is on the rise as developers try to leverage the technology’s capabilities. The increase comes as a tacit acknowledgment that no perfect solution will be able to address all blockchain needs at once.
In a multichain world, rather than competing, we have the ability to facilitate and interconnect new chains in order to enhance the overall user experience. The prospect of a multichain ecosystem would allow anyone to build anywhere. It is dependent on cross-chain solutions, some of which are already in production. Ethereum Virtual Machine compatibility solutions are also becoming fundamental pillars of the ecosystem. These solutions allow different blockchains to communicate with one another without the help of intermediaries, mimicking the way in which the internet works today.
Learning from the evolution of the internet
Like the internet that came before it, which was at one time disjointed with its own set of scaling issues, blockchain technology must move from its current state — chains operating in isolation — to a connected ecosystem. This will make it possible for new and inexperienced users to enjoy the full benefits of the ledger technology. The goal is to build for commercial use.
Today, DApps are complicated and expensive, the same way the World Wide Web was once described as “slow” and “crude.” Rather than the fluid experience that one would encounter when using modern websites and apps like YouTube or Instagram, the blockchain experience is defined and experienced by each moving part. This results in the fragmentation of actions that should be seamless. Multichain technologies will shift that experience from complicated chain-to-chain movements to uninterrupted activities in which the end-user does not know which chain they are operating on.
At the moment, we can only imagine what this might look like, but we do know that it could revolutionize the way we use blockchain technology. Take the implementation of blockchain within the traditional financial sector, for example. The lack of interoperability would make interactions between banks using different blockchains too complex, cutting off any communication between customers who bank with different blockchains. If these blockchains were interoperable, transmitting data from one to the other would not only be possible — it would be secure and faster.
If the past is any indication of what the future will bring, the natural evolution of Web 3.0 will be the ultimate connector of on-chain communication and data-sharing. Where Web 2.0 made the internet more interactive, Web 3.0 will make the web easier to transact in, more inclusive and semantic.
A multichain future
Taking charge of the existing blockchain complexities will be absolutely critical to transition blockchain to a high-growth industry.
Imagine major layer-one blockchains like Ethereum as a city. They are congested and more expensive, but you get certain benefits. On the other hand, layer-two blockchains and sidechains are more like the suburbs. They are less congested and may offer lower security. If there were a proper means of fast transportation between these communities, users could enjoy the best of all worlds.
To prepare for the mass adoption of Web 3.0, which will see an influx of over a billion users, we must be ready to adopt a multichain approach, bringing with it the elimination of complex transactions and ensuring a frictionless experience for end-users. Available source: https://cointelegraph.com/news/a-multichain-approach-is-the-future-of-the-blockchain-industry |
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