Bitcoin has been defined as open source P2peer to peer money. Michael Saylor describes it as a hornets nest! Whatever you want to call it, it is the number one performing asset in the last decade. In my opinion, the strongest narrative for BTC up to this point has been:
Bitcoin as a store of value
If we orange-pilled investors want to see Bitcoin fulfill its original purpose of being hard money that no one can mess with, there needs to be something that makes BTC easier to transact. Whenever I try my hand explaining why Bitcoin will be valuable and important in the near future, I get asked, “Yes, but what can I do with it?”
My first answer is that you don’t have to do anything with it. Just HODL.
The Lightning network was designed to be Bitcoin's trusted way of transferring value on the blockchain.
In 2021, when El Salvador formally recognized Bitcoin as legal tender, the Lightning Network was a layer 2 solution that was supposed to make transacting faster and easier. Since then users have reported liquidity issues and security vulnerabilities.
An article from theBlock.co says the Lightning Network has a flaw called "replacement cycling attacks," which poses a risk to fund security. If this attack is able to disrupt or slow down transactions, it can result in loss of funds. No bueno for users that don't have very much money to lose on a failed transaction.
SoftNote is important for keeping payments trustless and designed to move ownership of BTC, Ethereum, and USDT. The SoftNote stores the private keys and can be shared over social media, email, and text message; it's as easy as sending a link. There's no sender details, no receiver details, just a exchange of a passcode. SoftNote can theoretically increase anonymity. It keeps the decentralization that all crypto users have come to expect.
Crytpo users desire the freedom to transact how we want and when we want. SoftNote gives this to them. We as humans should have a right to privacy. And we should be able to do it, using THE hardest money that this world has ever seen.
SoftNote makes transfers possible for anyone that has internet access. Which is paramount for countries like El Salvador and Argentina who have citizens that need a trusted way of sending and receiving payments.
The product that Tectum is building has the chance to change the way the world transacts. And I am all for any tech developed that will move this space forward. A major plus is that you do not need Tectum to transact with SoftNotes.
However those that believe in the Tectum project and what they’re doing, can invest in the project. The token gives you access to mint SoftNotes and provide liquidity. The DeFi side of this project is something that I would love to look more into in the future.
I want to thank Publish0x for this opportunity to learn about more cutting edge projects in crypto. And as always, I want to thank all for reading!
HODL friends! The bull ride is just getting started.
Peace and Happy Holidays.
