this post was submitted on 06 Feb 2024
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Economics

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Fed Chair Jerome Powell on 60 Minutes: The US is on an unsustainable economic path (youtu.be)
submitted 2 years ago by makeasnek@lemmy.ml to c/economics@lemmy.ml
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[–] makeasnek@lemmy.ml 0 points 2 years ago* (last edited 2 years ago) (1 children)

Lightning is an international open-source protocol, not something El Salvador made. It's a layer on top of Bitcoin which makes transactions settle instantly for pennies in fees while using the underlying Bitcoin blockchain for security. Similar to how venmo is a layer on top of the existing banking system. El Salvador has no say in how Bitcoin is administered.