An article reviews the ten important developments of Bitcoin in 2022
By Cory Klippsten, Tomer Strolight, Sam Callahan
Original source: Coindesk
Compilation of the original text: Dust Technology
This article is from the WeChat public account FastDaily.
Plunging prices and cryptocurrency crashes dominate 2022 headlines, but it's still safe to assume2022 is also a year of significant progress for Bitcoin.
In 2022, we see Bitcoin as a protocol enabling a wide range of innovations, addressing whatever needs developers and entrepreneurs identify without requiring any changes to the protocol.
We list 10 important developments for Bitcoin in 2022,secondary title
1. Another year of 100% uptime
Bitcoin's biggest achievement this year remains Bitcoin itself. Bitcoin continues to function flawlessly, with a block appearing roughly every 10 minutes, and its token issuance is exactly as specified in Satoshi Nakamoto's 2008 white paper. No emergency restarts, no hard forks, no chain splits, no protocol-level hacks or vulnerabilities. However, against all odds in 2022, Bitcoin once again offers 100% uptime and is available to anyone in the world all year round. Billions of dollars worth of Bitcoin are moved on its blockchain every day.
Bitcoin does all this without any foundation backing, without any direct employees, without any leaders or venture capitalists. As a result, continued development that relies on Bitcoin's reliability and predictability can continue to focus on another year without interruption, with confidence that it will continue to do so for the foreseeable future.
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2. Development of Lightning Network
While Bitcoin’s base layer remains stable, its most important scaling protocol, the Lightning Network, has experienced massive growth and development in 2022. The Lightning Network enables instant, cheap off-chain payments, eliminating the need to wait for blocks to confirm transactions. It is fully decentralized and permissionless, improving Bitcoin's scalability while still leveraging the security and settlement guarantees of Bitcoin's base layer. In 2022, the publicly visible liquidity capacity of the network rises from 1058 BTC to over 4771 BTC.
The number of Lightning Network channels increased by 80%, from 37,298 to 67,339.
The number of publicly visible Lightning nodes increased by +88%, from 8,295 nodes to 15,636 (although growth slowed in the second half of the year).
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3. El Salvador
In 2022, under President Nayib Bukele's economic freedom and Bitcoin policy, El Salvador has undergone the greatest national reshaping in history. Appearing on the cover of Bitcoin Magazine's year-end edition, Bukele was the first pioneer and leader who dared to embrace pure Bitcoin and the economic freedom it provided to the people.
In the op-ed, Bukele called on Bitcoin users around the world to realize that El Salvador's struggle against the global elite is also theirs. El Salvador's embrace of the Bitcoin currency shows everyone that it understands exactly what a revolutionary currency actually means, despite the misgivings of the mainstream media. While U.S. regulators and political elites have been duped by the likes of Sam Bankman-Fried, Bitcoin has brought prosperity to El Salvador. Its tourism numbers are booming, its GDP is growing, and the country is adding satellites.
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4. Machankura — Bitcoin Transactions in Africa by Text
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5. Taro — Assets on the Lightning Network
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6. Impervious.ai - the first P2P lightning-native browser
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7. FediMints – Collaborative Hosting
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8. Value-4-Value - Embedding payment functionality anywhere
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9. Plebnet Lightning – Community Tools That Make Lightning Powerful
This informal Telegram group of ordinary people interested in running their own Lightning nodes is about to have over 5,800 members.
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10. Gridless Computing Using BTC Mining
People all over the world live with very little, very expensive or no electricity. Bitcoin mining is changing all that. Twitter founder Jack Dorsey shared an example of securing the Bitcoin network with excess hydropower while providing electricity to a rural village in Kenya, while reducing electricity bills for 2,000 people (500 households) from about 10 The dollar dropped to just $4.
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