The congestion of bitcoin network has to be solved. At present, bitcoin has not developed effective capacity expansion technology to help it improve and optimize the performance on the chain. At least in the long run, the massive transaction throughput on bitcoin network has not been significantly improved. In addition to this problem, the insecurity of bitcoin has been accelerated with the increase of user groups, which greatly affects the user experience. This problem will also seriously hinder the popularity of bitcoin and its future development.
How to effectively expand and improve security has become an anxiety of bitcoin. As a new payment tool, bed has designed a feasible alternative to bitcoin. Based on the innovation of bitcoin technology, the solution of network payment is developed.
Lightning network is the second layer payment protocol working on the blockchain. Its design purpose is to realize the real-time transaction of both parties, while the transaction frequency of blockchain is limited by its capacity. As we all know, the most critical point of bitcoin’s trading network is its trading performance: the speed of seven transactions per second in the whole network is far lower than that of the traditional financial trading system; at the same time, waiting for the trusted confirmation of six blocks results in about an hour’s final confirmation time. If bitcoin does not solve this problem, the normalization of payment with bitcoin or even cryptocurrency will become empty talk in the future.
In the future, encrypted payment will be fast, convenient and secure. In the payment mode designed by bed, these problems will be solved perfectly.
With the help of lightning network, bed can eliminate the congestion of bitcoin network and reduce the relevant transaction costs by moving the transaction from the main blockchain and making the network it develops operate. The function of lightning network not only lies in this, but also can be used for other types of off chain transactions involving the exchange between cryptocurrencies. For example, this helps to facilitate atomic exchange so that one cryptocurrency can be converted into another without involving intermediaries such as cryptocurrency exchange.
Bed is also as perfect as possible in terms of transaction security. In order to avoid the same information leakage problem as bitcoin, bed uses mixed currency technology to protect user privacy. In the process of using bed transactions, your transactions will be broken up into multiple unrelated transfers. The system will mix these transactions and then re transfer them out. The outside world can not find useful information from these related transactions, and then can not distinguish the capital flow of the transactions you operate.
The purpose of bed is to use technology to better serve users and bring convenient and safe payment services. In the future, it will not only replace bitcoin, but also bring more blockchain technology solutions.