Wrapped Bitcoin & Sidechains with Shinobi & Nadav Kohen
In this interview, Peter McCormack of What Bitcoin Did podcast, talks to Shinobi, the host of Block Digest and Suredbits software engineer Nadav Kohen. They discuss Bitcoin scaling, the Lightning Network, wrapped Bitcoin and Liquid.
5:02 Why do we need 2nd layers?
12:00 Scaling History
17:02 What is a Sidechain?
20:08 How does Liquid Bitcoin work?
26:38 Who uses Liquid Bitcoin and why?
30:51 Does Liquid present Systemic Risk?
34:00 Significance of The Peg
38:12 Sidechain Security Consideration
41:18 Wrapped BTC on ETH
47:21 Problems with ETH
1:02:15 Lightning Network Explained
1:14:06 Lightning Channel opens
1:20:21 Lightning Channel Closes
1:24:58 Using Lightning Only?
1:26:45 What do users Need to Know?
1:46:15 Lightning Wallets
“Blockchains solve a very specific problem, that’s their big innovation, but they suck at pretty much everything else.” — Nadav Kohen
The video was recorded on Tuesday 27th, April, 2021.