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Aave $AAVE expands to Sonic $S with $15M liquidity support Aave has deployed its v3 lending markets on the Sonic blockchain, marking its first layer-1 expansion of the year. The expansion is backed by liquidity commitments, including $15 million from the Sonic Foundation, up to…

Lido $LDO expands $stETH and $wstETH to Unichain Lido has announced on its official blog that stETH and wstETH are now available on Unichain $UNI, a DeFi-native Ethereum $ETH layer-2 developed by Uniswap Labs. Users can now bridge these assets to Unichain, with the deployment facilitated by the Lido protocol Multichain Automaton.

Aave deploys lending markets on Sonic in its first Layer 1 expansion of the year

The Lightning Network is a second-layer protocol built on top of the Bitcoin blockchain to enable faster and cheaper transactions. It was created to address the scalability issues of Bitcoin, particularly the slow transaction times and high fees when the network gets congested. Here’s how it works: 1. Payment Channels: The Lightning Network uses payment channels, which are private, off-chain channels that allow two parties to make multiple transactions without recording every single transaction on the Bitcoin blockchain. Once a payment channel is opened between two participants, they can send as many transactions as they want, instantly and with very low fees, without waiting for each transaction to be confirmed on the Bitcoin blockchain. 2. Off-chain Transactions: Transactions on the Lightning Network are processed off-chain, meaning they do not require miners to validate them. Instead, the participants in the payment channel only record the final state of the transactions on the blockchain when the channel is closed. This allows for a high volume of transactions without overloading the Bitcoin network. 3. Micropayments: The Lightning Network is designed to facilitate micropayments, which are very small payments that wouldn't typically be practical on the Bitcoin blockchain due to high fees. By using the Lightning Network, users can make quick, low-cost payments, even for tiny amounts, such as paying for a cup of coffee or streaming content. 4. Instant Transactions: One of the major benefits of the Lightning Network is its speed. Because the transactions are off-chain, they can be processed almost instantly, making it ideal for real-time payments. This solves the problem of Bitcoin's slow transaction confirmation times, which can take minutes or longer, especially during times of high network congestion. 5. Multi-Party Payments: The Lightning Network is not limited to just two participants. It can enable multi-party payments by routing payments through a network of connected payment channels. This means that if person A has a channel open with person B, and person B has a channel open with person C, person A can still make a payment to person C through B without needing a direct channel between A and C. 6. Security and Trust: The Lightning Network is secured by the underlying Bitcoin blockchain. Since the final settlement of the transaction happens on the blockchain when the channel is closed, the network benefits from the security of Bitcoin’s proof-of-work consensus mechanism. Users are still protected by Bitcoin’s security, even though the transactions themselves do not appear on the blockchain immediately. 7. Network Growth: The Lightning Network has grown significantly since its inception. There are thousands of nodes and payment channels that form an ever-expanding network, enabling faster and more efficient transactions globally. Its ability to scale Bitcoin’s capacity to process transactions makes it a crucial technology for the future of Bitcoin as a medium of exchange. In summary, the Lightning Network is an innovative solution to the scalability problem of Bitcoin, enabling fast, cheap, and secure transactions through off-chain payment channels. It’s a key development that helps Bitcoin evolve from a store of value into a practical and efficient means of payment.

Custodial vs. Non-Custodial Bitcoin Wallets Supporting Both On-Chain and Lightning Network Transactions When it comes to Bitcoin wallets, there are two main types: custodial and non-custodial. Both types can support on-chain transactions (standard Bitcoin transactions) as well as Lightning Network transactions (a second-layer scaling solution). Understanding the differences between custodial and non-custodial wallets, how they work, and the examples of each type that support both types of transactions is essential for anyone engaging in the Bitcoin ecosystem. 1. Custodial Bitcoin Wallets Definition: A custodial wallet is one where a third-party service (such as a company or exchange) controls and holds your private keys. In other words, you trust the service to safeguard your funds. The third party manages your Bitcoin, and you access it through an interface provided by the wallet provider. How Custodial Wallets Work: In a custodial wallet, you don’t directly control your private keys (the keys that allow you to access and manage your Bitcoin). Instead, the wallet provider holds these keys on your behalf. You trust them to manage the security of your funds. For example, you might use an exchange like Coinbase or Binance, which holds your funds in a custodial wallet. In this case, your funds are technically under the exchange’s control, but you still access them through their platform. Support for On-Chain and Lightning Network Transactions: Many custodial wallets now offer support for both on-chain Bitcoin transactions and Lightning Network transactions. With custodial wallets, it’s easier for users to get started because the service handles the complex aspects of key management, and they typically provide a user-friendly interface for both on-chain and Lightning payments. Examples of Custodial Wallets: 1. Coinbase: Coinbase is a popular custodial wallet that allows users to store, buy, sell, and send Bitcoin. It also supports the Lightning Network for faster and cheaper Bitcoin transactions. Users can send and receive Bitcoin on the Bitcoin blockchain (on-chain) or use the Lightning Network for microtransactions. 2. Binance: Binance, another large exchange, offers custodial wallet services that support both on-chain Bitcoin transactions and Lightning Network payments. Users can also send Bitcoin through the Lightning Network to avoid high transaction fees. 3. BlockFi: BlockFi is a platform that allows you to store Bitcoin in a custodial wallet and access lending features. It also integrates with the Lightning Network for faster and lower-cost transactions. Advantages of Custodial Wallets: - Ease of Use: These wallets are generally more user-friendly, with less technical knowledge required. - Convenience: The wallet provider handles key management and security. - Support for Lightning Network: Custodial wallets are often the first to adopt newer technologies like the Lightning Network. Disadvantages of Custodial Wallets: - Lack of Control: You don’t own the private keys, which means you don’t have full control of your Bitcoin. - Risk of Hacking: Since the third party holds your funds, if their platform is compromised, your funds could be at risk. - Privacy Concerns: The wallet provider may collect personal data and transaction history. 2. Non-Custodial Bitcoin Wallets Definition: A non-custodial wallet is one where the user controls their private keys. This means that you alone are responsible for the security of your Bitcoin. Non-custodial wallets do not rely on a third party to manage your funds. You are the sole custodian of your assets, and your keys are stored on your device (or securely offline in the case of hardware wallets). How Non-Custodial Wallets Work: In a non-custodial wallet, you hold and manage the private keys yourself. If you lose access to your private keys (e.g., losing your recovery phrase), you lose access to your Bitcoin, making it crucial to secure your keys properly. Non-custodial wallets provide greater security and full control over your funds, but with this control comes responsibility. Support for On-Chain and Lightning Network Transactions: Many non-custodial wallets now support on-chain Bitcoin transactions as well as Lightning Network transactions. These wallets allow you to make fast and cheap transactions on the Lightning Network while also enabling standard on-chain Bitcoin transfers. Examples of Non-Custodial Wallets: 1. BlueWallet: BlueWallet is a popular non-custodial Bitcoin wallet that supports both on-chain transactions and the Lightning Network. It allows users to have full control over their funds while enabling fast, low-cost transactions using the Lightning Network. 2. Electrum Wallet: Electrum is one of the most well-known Bitcoin wallets, and it offers support for both on-chain Bitcoin transactions and the Lightning Network. It’s highly customizable and open-source, giving users complete control over their Bitcoin. 3. Phoenix Wallet: Phoenix Wallet is a non-custodial wallet that is Lightning-first. It’s designed to be simple and user-friendly while also supporting on-chain transactions. The wallet is aimed at those looking for a more intuitive way to use the Lightning Network with full control over their keys. 4. Wasabi Wallet : Wasabi Wallet is a privacy-focused non-custodial Bitcoin wallet that also allows users to make both on-chain and Lightning Network transactions. Wasabi Wallet emphasizes security and anonymity, offering advanced privacy features such as *CoinJoin* for transaction obfuscation. Advantages of Non-Custodial Wallets: - Full Control: You own and control your private keys, giving you total control over your Bitcoin. - Better Privacy: Non-custodial wallets usually offer enhanced privacy since they don’t rely on third-party services that track your transactions. - Security: With the right precautions (such as securely storing your recovery phrase), non-custodial wallets can be more secure than custodial wallets. Disadvantages of Non-Custodial Wallets: - Responsibility: You are fully responsible for the security of your private keys. If you lose them, you lose access to your Bitcoin. - Complexity: Some non-custodial wallets may require a bit more technical knowledge, especially when dealing with backup and recovery processes. - No Customer Support: Unlike custodial wallets, there’s no central customer support team to help if something goes wrong. Thanks.