Closed Chain Solutions
Probably the lowest-tech solutions are allowing Bitcoin users to deposit their Bitcoins in a trusted central authority figure of their choice and then transfer BTC value between each other, which is no different from the way that Paypal funds are transferred to each other. Solutions like this are great for allowing users to send multiple micro transactions between their friends or for other similar purposes. In a way, online Bitcoin casinos serve the same purpose by allowing Bitcoin users to interact with the website through a series of microtransactions if you want to think that way. This also allows for very fast and even instantaneous transfer of value from person A to person B.
Of course, if a large part of the user base is forced to interact with Bitcoin in this way, it will be properly stated that such behavior disrupts a major purpose of Bitcoin's philosophy in the first place. Classically, if you do not own Bitcoin private keys, it is said that you do not own Bitcoin. But if it were to cost $ 10 per transaction, interacting with the Bitcoin blockchain network would prohibit your average user from meaningfully controlling and using their Bitcoins, and instead resort to various platforms like Paypal to keep things cheaper and on their own terms. more efficient.
Ultimately, in our view, an off-chain solution for Bitcoin should be seen as a simple step to help solve the overall Bitcoin scaling crisis that Bitcoin will have to deal with in the next decade and beyond. If users are forced to keep their valuable Bitcoins with a central third party, they may be bound by restrictions on how much money they can send, to whom they can send, how much they can buy and sell, or when they can send it. And none of this is in the spirit of Bitcoin. Therefore, this should be viewed as a smaller entry solution for the finer points of the Bitcoin network, rather than a global solution to the problem.
