Lightning Labs proposes LayerTree to scale Bitcoin for 1M users

Bitcoin: Bitcoin is the decentralized digital currency and blockchain network that serves as the foundation for various layer-2 scaling solutions. It processes transactions on its base layer while supporting extensions like the Lightning Network for improved efficiency. The news centers on a proposed enhancement to Bitcoin's scalability that would require base protocol modifications. LayerTree: LayerTree is a proposed scaling solution for Bitcoin that enables multiple users to share a single UTXO in a non-custodial setup. It is designed to connect directly with the Lightning Network while necessitating changes to the Bitcoin protocol for implementation. The news reports Lightning Labs' introduction of this specific proposal. Lightning Labs: Lightning Labs develops infrastructure and tools for the Lightning Network, a layer-2 protocol built on Bitcoin to enable faster and cheaper transactions. The company focuses on advancing Bitcoin's scalability and payment capabilities through open-source protocols and integrations. In the news, Lightning Labs introduced the LayerTree proposal as a new scaling approach that builds on its Lightning work. Scaling Proposals: Developers continue to explore layer-2 and protocol-level innovations to expand Bitcoin's transaction capabilities. Lightning Integration: New Bitcoin scaling designs often aim to interoperate with the Lightning Network to leverage its existing infrastructure.