Fundamentals of the Lightning Network

Fundamentals of the Lightning Network

Presentation

27
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Over the last decade, Bitcoin has been gaining adoption as a currency and testing its potential as a store of value, unit of account, and medium of exchange. However, during times of high network usage it has had difficulty scaling to meet the demand of its users. The Lightning Network was born as a pragmatic solution to solve this very problem, without compromising the security of the underlying network. This layer 2 technology allows Bitcoin to operate with extremely low fees and scale up to millions of transactions per second.The goal of this session is to give a technical introduction of the fundamentals of the Lightning Network — Bitcoin scaling, network architecture, channels, routing, and HTLC's. This session will be presented from the perspective of a curious software developer and will delve into the low level details of the contracts implemented to secure the network. It is recommended that attendees have a basic understanding of Bitcoin transactions before attending.

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