The Bitcoin Lightning Network, Part Two

One possible solution ( call it a supplement if you prefer ) is Lightning Network.This is a suggested way to let Bitcoin to be able to include the corresponding transaction volume like any electronic payment system currently generates without making them to be dependent on a third party intermediaries. All you need is a PC with standard broadband connection.

NB! The Bitcoin protocol can encompass the global financial transaction volume in all electronic payment systems today, without a single custodial 3rd party holding funds.

It is thought to act as a decentralized system where transactions are late over a network of micro-payment channels (also known as payment channels or transaction channels) where the actual transfer of value takes place off-block chain. This could theoretically be solved if Bitcoin transaction can be adapted in order to let them sign with a new sign hash type that fixes the problem of malleability. The transfer can then occur between parties who do not need to rely on each other since smart contracts enforce when the transaction should be broadcasted, so it is not possible for either party to do something unexpected with the transactions.

There is also a Swedish company named Strawpay who are developing solutions that use similar micro payment channels to resolve micro transactions without localizing each transaction in Block Chain.