The questions appeared to know if Bitcoin turns into a multilayer system. Well, the answer is yes. This article seeks to describe the different layers on which the Bitcoin resides. It’s all yours!
Have you heard of those referring to Bitcoin as digital gold? Obviously, Crypto-money quickly wins popularity and acceptance in the crypto world. The value of the room is estimated to increase higher. However, it is also noted that the room can win or lose 50% of its value of the night. This causes speculation between investors, but the coin is nevertheless a “digital gold”. And the question of whether Bitcoin is a multilayer system, it should be known that Bitcoin exists on two main layers. These are the mining and semantic layers.
The mining layer
This is the layer in which the piece is created. In addition to bitcoins, ether is also created in this layer. After the creation of coins, valid blocks of Bitcoins are transferred to the Great Book. Here, the generation of money is over. It should be noted that the currency is generated from transactions contained in Bitcoins blocks. The blocks are called transaction fees. The currency can also be generated from the network itself, or you can say “thin air”. The main advantage of generating network currencies is that it provides juvenile incentives.
The semantic layer
This provides a very important platform. The semantic layer is the layer in which Bitcoins are used as a means of payment. It also provides a platform for Bitcoins to use as a value store. The layer seems very important, is not it? Bitcoin currency holders sign the valid transactions that report the beginning of the transfer of bitcoins among the nodes of the semantic layer. The transfer can also be made possible by the creation of intelligent contracts. Intelligent contracts transfer parts between different accounts.
The lightning network
You probably have not heard of the Lightning network. This is the last invention being deployed by the Bitcoin community. This layer will have the ability to operate at the top of Bitcoin. With this invention, there will be an application layer above Bitcoin. It will be so exciting. The most interesting aspect is that its value can also be used to make payments. This will be made possible by carrying its value between people. With the invention of the lightning network, Bitcoin will become a transport layer and an application layer.
As of today, the value of Bitcoin is estimated at about $ 9 billion. He also knew that Bitcoin is decentralized cryptocurgency. This means that it works without the control of a bank or administrator. Bitcoin surely took the crypto world.
It is also important is that the technology used during Bitcoin mining is called Blockchain technology. It works by allowing the distribution of digital information and not copy. Cryptos is really an exciting subject and in the near future Bitcoins could go beyond our traditional currencies.