Lightning Network aneb Bitcoin 2.0, Plzensky Barcamp, 7.4.2018

Transcript

1. Lightning Network aneb Bitcoin 2.0 Ondrej Sika ondrej@ondrejsika.com Plzensky Barcamp 2018, Pilsen, 7. 4. 2018
2. https://sika.link/ln
3. Ondrej Sika - Software Engineer @ Slush Pool - Bitcoiner since 2013 - Consultant
4. What is Bitcoin? - Peer to Peer payment network - Decentralized currency - Digital gold - Money of internet - Internet of money
5. Bitcoin Advantages - Decentralized - Distributed - Fast - Cheap
6. Fast & Cheap!
8. Bitcoin Disadvantages - Expensive - Slow - Limited to few txs per second (1MB blocks)
9. Scaling!
10. 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
11. 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
12. Lightning Network
13. Advantages of Lightning Network - Instant transactions - Almost no fees
14. 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
15. 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)
16. Implementation of Lightning Network - LND (Lightning Labs) - C-Lightning (Blockstream)
17. Demo
18. Clients of Lightning Network - Zap (Desktop) - Bitcoin + Lightning Wallet (Android)
20. Summary - LN is still in early stage - Many people working on - Concept seems to be working - Have a fun with LN
21. 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
22. Thank you & Questions Ondrej Sika email: ondrej@ondrejsika.com web: ondrej-sika.cz twitter: @ondrejsika linkedin: /in/ondrejsika/ Slides & materialy na https://sika.link/ln.1