• What we’ll do
The promise of the Lightning Network:
Transactions for the Future
1) Instant Payments. Lightning-fast blockchain payments without worrying about block confirmation times. Security is enforced by blockchain smart-contracts without creating a on-blockchain transaction for individual payments. Payment speed measured in milliseconds to seconds.
2) Scalability. Capable of millions to billions of transactions per second across the network. Capacity blows away legacy payment rails by many orders of magnitude. Attaching payment per action/click is now possible without custodians.
3) Low Cost. By transacting and settling off-blockchain, the Lightning Network allows for exceptionally low fees, which allows for emerging use cases such as instant micropayments.
4) Cross Blockchains. Cross-chain atomic swaps can occur off-chain instantly with heterogeneous blockchain consensus rules. So long as the chains can support the same cryptographic hash function, it is possible to make transactions across blockchains without trust in 3rd party custodians.
BUT…Despite all the promise, there remains lots of questions around the efficacy, security, de-centrality and why it’s taken so long to build.
We’ll have guest speaker Lucas Cullen talk us through how Lightning Network & Raiden Networks promise to work, how they are positioned to solve some of the scalability issues for both Bitcoin & Ethereum, and also – take a look at what the limitations are of side chain solutions.
We’ll end the night with a Q&A.
Join us for a night of extremely valuable content.
Be quick to register because this meetup will definitely fill fast.
• What to bring
Notebooks and your ears!
• Important to know