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Lightning Network
Bitcoin + scalable, free and immediate
Oscar Guindzberg
RSK
Bitcoinj
Stroem
37coins, Nimblecoin, Doosra, Microwork
Contents
Payment Channels
Bidirectional Payment Channels
Lightning Network
Hashed Timelock Contract (HTLC)
BIPs
Projects
O...
Bitcoin problems
- 7 tx/second
- USD 0.10 / tx
- "final" confirmation in 1 hour
Payment channel – Attempt 1
TX
Outputs:
A: 0.99 BTC
B: 0.01 BTC
Inputs:
A: 1 BTC
TX
Outputs:
A: 0.98 BTC
B: 0.02 BTC
Input...
Payment channel – Attempt 2
Commitment TX
Outputs:
A: 0.99 BTC
B: 0.01 BTC
Inputs:
A & B: 1 BTC
Commitment TX
Outputs:
A: ...
Payment channel – Solution
Commitment TX
Outputs:
A: 0.99 BTC
B: 0.01 BTC
Inputs:
A & B: 1 BTC
Commitment TX
Outputs:
A: 0...
Bidirectional Payment channel
Commitment TX A1
Outputs:
A RSMC: 0.50 BTC
B: 0.50 BTC
Inputs:
A & B: 1 BTC
Commitment TX A2...
Revocable Sequence Maturity Contract
Commitment TX A1
Outputs:
A RSMC: 0.50 BTC
(A1 & B1)
B: 0.50 BTC
Inputs:
A & B: 1 BTC...
Lightning Network
A
D
Lightning Network
A
B
C
D
X
Y
Lightning Network
A
B
C
D
X
Y
Lightning Network
A
B
C
D
X
Y
Hashed Timelock Contract (HTLC)
A
B C
D
HTLC
Hash(R)
0.12 BTC
24hs
R R
R
R
R
HTLC
Hash(R)
0.11 BTC
23hs
HTLC
Hash(R)
0.10 ...
Commitment TX A2
Outputs:
A RSMC: 0.38 BTC
(A2 & B2)
B: 0.50 BTC
HTLC 0.12 BTC
(to B if R)
Inputs:
A & B: 1 BTC
(Signed by...
Topology
A
B
C
D
X
Y
Topology
D
X
Y
Topology
D
X
Y
BIPs
- BIP 65 OP_CHECKLOCKTIMEVERIFY
- BIP 68/112 OP_CHECKSEQUENCEVERIFY
- SIGHASH_NOINPUT / segwit
Projects
Lightning Labs
Blockstream
ACINQ/eclair (Blockstream style)
bcoin-org/plasma (Lightining Labs style)
Amiko-pay
Th...
Open problems
Channel monitoring
Fee
Routing
Network topology centralization
Lock BTC
Privacy
Open problems
Wire protocol
Different implementations
Adapt wallets/exchanges
Raiden
- State channels
- Ethereum / RSK
Summary
- Scalable, free and immediate
- Bidirectional payment channels
- Needs Maleability fix
Thanks
https://lightning.network
oscar.guindzberg@gmail.com
github.com/oscarguindzberg
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Lightning Network

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Labitcoinf 2016

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Lightning Network

  1. 1. Lightning Network Bitcoin + scalable, free and immediate
  2. 2. Oscar Guindzberg RSK Bitcoinj Stroem 37coins, Nimblecoin, Doosra, Microwork
  3. 3. Contents Payment Channels Bidirectional Payment Channels Lightning Network Hashed Timelock Contract (HTLC) BIPs Projects Open Problems Raiden
  4. 4. Bitcoin problems - 7 tx/second - USD 0.10 / tx - "final" confirmation in 1 hour
  5. 5. Payment channel – Attempt 1 TX Outputs: A: 0.99 BTC B: 0.01 BTC Inputs: A: 1 BTC TX Outputs: A: 0.98 BTC B: 0.02 BTC Inputs: A: 1 BTC TX Outputs: A: 0.97 BTC B: 0.03 BTC Inputs: A: 1 BTC
  6. 6. Payment channel – Attempt 2 Commitment TX Outputs: A: 0.99 BTC B: 0.01 BTC Inputs: A & B: 1 BTC Commitment TX Outputs: A: 0.98 BTC B: 0.02 BTC Inputs: A & B: 1 BTC Commitment TX Outputs: A: 0.97 BTC B: 0.03 BTC Inputs: A & B: 1 BTC Funding TX Outputs: A & B: 1 BTC Inputs: A: 1 BTC
  7. 7. Payment channel – Solution Commitment TX Outputs: A: 0.99 BTC B: 0.01 BTC Inputs: A & B: 1 BTC Commitment TX Outputs: A: 0.98 BTC B: 0.02 BTC Inputs: A & B: 1 BTC Commitment TX Outputs: A: 0.97 BTC B: 0.03 BTC Inputs: A & B: 1 BTC Funding TX Outputs: A & B: 1 BTC Inputs: A: 1 BTC Refund TX Outputs: A: 1 BTC Inputs: A & B: 1 BTC Lock Time: 1 day
  8. 8. Bidirectional Payment channel Commitment TX A1 Outputs: A RSMC: 0.50 BTC B: 0.50 BTC Inputs: A & B: 1 BTC Commitment TX A2 Outputs: A RSMC: 0.49 BTC B: 0.51 BTC Inputs: A & B: 1 BTC Commitment TX A3 Outputs: A RSMC: 0.70 BTC B: 0.30 BTC Inputs: A & B: 1 BTC Funding TX Outputs: A & B: 1 BTC Inputs: A: 0.5 BTC B: 0.5 BTC
  9. 9. Revocable Sequence Maturity Contract Commitment TX A1 Outputs: A RSMC: 0.50 BTC (A1 & B1) B: 0.50 BTC Inputs: A & B: 1 BTC (Signed by B) Revocable TX A1 Outputs: A: 0.50 BTC Inputs: A RSMC: 0.50 BTC (Signed by B1) Lock Time: 1 day A B A1 Private Key
  10. 10. Lightning Network A D
  11. 11. Lightning Network A B C D X Y
  12. 12. Lightning Network A B C D X Y
  13. 13. Lightning Network A B C D X Y
  14. 14. Hashed Timelock Contract (HTLC) A B C D HTLC Hash(R) 0.12 BTC 24hs R R R R R HTLC Hash(R) 0.11 BTC 23hs HTLC Hash(R) 0.10 BTC 22hs
  15. 15. Commitment TX A2 Outputs: A RSMC: 0.38 BTC (A2 & B2) B: 0.50 BTC HTLC 0.12 BTC (to B if R) Inputs: A & B: 1 BTC (Signed by B) Hashed Timelock Contract (HTLC) Commitment TX A1 Outputs: A RSMC: 0.50 BTC (A1 & B1) B: 0.50 BTC Inputs: A & B: 1 BTC (Signed by B) AB R Commitment TX A3 Outputs: A RSMC: 0.38 BTC (A3 & B3) B: 0.62 BTC Inputs: A & B: 1 BTC (Signed by B)
  16. 16. Topology A B C D X Y
  17. 17. Topology D X Y
  18. 18. Topology D X Y
  19. 19. BIPs - BIP 65 OP_CHECKLOCKTIMEVERIFY - BIP 68/112 OP_CHECKSEQUENCEVERIFY - SIGHASH_NOINPUT / segwit
  20. 20. Projects Lightning Labs Blockstream ACINQ/eclair (Blockstream style) bcoin-org/plasma (Lightining Labs style) Amiko-pay Thunder Strawpay/Stroem
  21. 21. Open problems Channel monitoring Fee Routing Network topology centralization Lock BTC Privacy
  22. 22. Open problems Wire protocol Different implementations Adapt wallets/exchanges
  23. 23. Raiden - State channels - Ethereum / RSK
  24. 24. Summary - Scalable, free and immediate - Bidirectional payment channels - Needs Maleability fix
  25. 25. Thanks https://lightning.network oscar.guindzberg@gmail.com github.com/oscarguindzberg

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