On August 24, 2017, an expansion of the Bitcoin network to enable the accommodation of the vastly increased customer base and transaction volumes was carried out. This Segregated Witness (also known as SegWit) implementation was a soft fork change in the transaction processes of Bitcoin.

SegWit was implemented in order to make Bitcoin transactions less malleable and more adaptable to enhancement in the size of the blockchain to increase transaction speeds. It had become clear that a new technology was needed for Bitcoin: one that could provide an extra layer to the existing blockchain to make transactions cheaper and quicker, without altering the basic structure or existing security backing of the network.

SegWit was thus produced to make the development of such technology possible.

The technology that was proposed to address these issues with Bitcoin was the Lightning Network.

Continue reading Lightning Network: The Guide That Tells Everything You Need to Know

The price of Bitcoin has surged from just over $1,000 in the beginning of 2017 to over $15,000 in 2018. Many other cryptocurrencies have followed very similar trends. As a result, it is only natural that ICOs have witnessed a huge flurry of attention from people in just about every corner of the world.

ICOs have captured the attention and interest of millions. Everyone from seasoned investors to curious newbies trying to get their feet wet seems to want to get involved –  and it’s no surprise why.

First of all, I’m your average Joe. I’m not an entrepreneur, I’m not a trader and I’m not a developer. I’m a guy who was in a job I hated, in a town I wanted to leave and relationship going southward and by a few leaps of blind faith, I found myself stumbling into the right place at the right time.

I had heard of Bitcoin before. I couldn’t tell you when or where but it was a word I was familiar with. For some reason, it had never really turned my head or caught my attention until I took a break from my stagnant career and embarked on a journey across the world.

Continue reading The Rise and Fall of My Bitcoin Fortune: A Story and Guide