Money at the Speed of Lightning

Abstract

In January of 2009 the Bitcoin network saw the light of day. The Bitcoin network is many things, one of which is a challenger to the established money and payment system. However, the Bitcoin network has a capacity of approx. 7 transactions per second. In comparison, the VISA network claims to have a capacity of 65,000+ transactions per second. Many solutions to this low capacity problem have been proposed and tried: amendments to the Bitcoin protocol, launching of new blockchains, and off-chain solutions. The Lightning Network is an off-chain solution. It lets actors operate with transactions not all recorded on the blockchain. In this talk we'll start off with the basics of the Bitcoin network. Then we'll explain how the Lightning Network is a solution to the scaling problem and how in detail the network works.

Day & time

Wednesday, September 06, 11:40 AM – 12:40 PM

Intended audience

You will learn from scratch how the Lightning Network works as an off-chain add-on to Bitcoin. No previous Bitcoin, blockchain or distributed ledger technology knowledge required.

• Jørn K Baltzersen

  Jorn K Baltzersen has been a professional developer for more than two decades. He is also an experienced speaker and trainer from conferences and other events in Norway and abroad. He recently graduated with the distinction of summa cum laude from the MSc program in blockchain and digital currency at the University of Nicosia. He is a Principal Solution Consultant at Tietoevry.

  

  @jkBaltzersen