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Lightning Network aneb Bitcoin 2.0, Plzensky Barcamp, 7.4.2018
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Ondrej Sika
April 07, 2018
Technology
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Lightning Network aneb Bitcoin 2.0, Plzensky Barcamp, 7.4.2018
Ondrej Sika
April 07, 2018
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Transcript
Lightning Network aneb Bitcoin 2.0 Ondrej Sika
[email protected]
Plzensky Barcamp
2018, Pilsen, 7. 4. 2018
https://sika.link/ln
Ondrej Sika - Software Engineer @ Slush Pool - Bitcoiner
since 2013 - Consultant
What is Bitcoin? - Peer to Peer payment network -
Decentralized currency - Digital gold - Money of internet - Internet of money
Bitcoin Advantages - Decentralized - Distributed - Fast - Cheap
Fast & Cheap!
None
Bitcoin Disadvantages - Expensive - Slow - Limited to few
txs per second (1MB blocks)
Scaling!
Onchain Scaling BBigger blocks - Bitcoin Cash Advantages - easy
to implement - easy to use - cold storage & HW wallets Disadvantages - Network centralization - No instant transactions - Not solving scaling, postpones it - High fees
Sidechains Another blockchain two-way pegged to Bitcoin (eg. rootstock) Advantages
- Any sidechain functionality with Bitcoin (eg. smart contract) - Cold storage & HW wallets Disadvantages - 2-way peg is not solved yet - No instant transactions - Fees
Lightning Network
Advantages of Lightning Network - Instant transactions - Almost no
fees
Disadvantages of Lightning Network - Requires running node with money
(no cold storage) - Requires monitoring network for frauds - Requires invoice to receiving money - Payment routing is not been solved properly yet
How LN works - Two nodes create channel (Bitcoin TX),
with capacity of x BTC. - Updates channel states many times they want - Close channel (Bitcoin TX)
Implementation of Lightning Network - LND (Lightning Labs) - C-Lightning
(Blockstream)
Demo
Clients of Lightning Network - Zap (Desktop) - Bitcoin +
Lightning Wallet (Android)
None
Summary - LN is still in early stage - Many
people working on - Concept seems to be working - Have a fun with LN
Resources - github.com/bcongdon/awesome-lightning-network - https://ondrej-sika.cz/lightning-network - http://lightning.network/ - https://github.com/lightningnetwork/lnd -
https://github.com/LN-Zap/zap-desktop
Thank you & Questions Ondrej Sika email:
[email protected]
web: ondrej-sika.cz
twitter: @ondrejsika linkedin: /in/ondrejsika/ Slides & materialy na https://sika.link/ln.1