- Michael Saylor is bullish on the Bitcoin Lightning Network.
- MicroStrategy focuses on building the Lightning Network on the platform.
- This blockchain feature allows smart contracts to perform instant payments.
Michael Saylor, co-founder of MicroStrategy, cherry-picks Bitcoin’s Lightning Network for his platform’s blockchain development.
Contextually, Saylor declared in a bitcoin-only conference that the MicroStrategy team is currently working on steps to apply an internal Lightning Network solution that can serve more than 10 million customers.
He said that the Lightning Network is the most vital development happening in technology today. Also, MicroStrategy has got some Research and Development (R&D) projects and the team is working on them for the “enterprise applications of Lightning: enterprise Lightning wallet, enterprise Lightning servers, and enterprise authentication.”
The blockchain pioneer remarked that the Lightning feature is beneficial for scaling up BTC for billions of people and driving transaction costs to nearly nothing.
The ethos of bitcoin is to go very carefully and not move fast on the base layer without the universal consensus, but in Lightning, you can move much more aggressively developing functionality and take more risks with the applications than you can with the underlying bitcoin layer.
For the uninitiated, Bitcoin’s Lightning Network uses smart contract functionality to allow instant payments on the blockchain.
Reports show that MicroStrategy holds $2.58 billion worth of 129,699 BTCs.
Michael Saylor is a Bitcoin supporter and maximalist who has been consistently bullish on the BTC price and the network’s features. On September 3, he tweeted: If you want to be the digital monetary network for 8 billion people, you can’t take weekends off. #Bitcoin
Moreover, he tweeted a study published by Arcane Research, which implied that BTC miners are “uniquely flexible energy consumers” who can resolve important energy problems.