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Topic: Lightning Network (another proposal to make bitcoin scale) - page 2. (Read 8332 times)

hero member
Activity: 658
Merit: 501
http://www.coindesk.com/could-the-bitcoin-lightning-network-solve-blockchain-scalability/

"If the bitcoin blockchain were a horse, ordinary hub-and-spoke payment channel proposals would be proposing to replace that horse with a truck; the Lightning guys are proposing to replace that horse with a rocket ship."  -- Peter Todd

Requires some more work and a soft fork to implement. The future looks bright Smiley
sr. member
Activity: 278
Merit: 251
Is there any more information or discussion about this fascinating proposal out there? All I've seen so far is the whitepaper and the excellent presentation. I'm flabbergasted by its simplicity, ease of execution, and power at eliminating the three biggest blocks to consumer adoption of bitcoin as a currency: scalability, minimum transaction amounts (microtransactions), and transaction speed. I'd love to learn more about the timeline for implementing the malleability fixes they recommend, along with relative nLockTime.
hero member
Activity: 709
Merit: 503
The average transaction size is more like 400 bytes at best.
hero member
Activity: 658
Merit: 501
cjp
full member
Activity: 210
Merit: 124
Looks suspiciously similar to my Amiko Pay, except that the commit conditions are different. I'll have to dive into the details of their proposal to figure out whether this is an improvement or not. Their proposal also seems to require additional Bitcoin scripting functions, but possibly less intrusive ones than my proposal. I'm also interested in to what degree a useful implementation of this can be made without those scripting extensions (presumably that would be less "trust-free").

And of course: I'll think about whether their commit conditions leave any vulnerabilities / abuse modes. It can be really hard to get these things 100% right.
legendary
Activity: 1260
Merit: 1008
A white paper draft has been released on the 28th of February:

http://lightning.network/lightning-network-paper-DRAFT-0.5.pdf
legendary
Activity: 1260
Merit: 1008
Found it on hacker news and I though it's worth sharing:

http://lightning.network/lightning-network.pdf

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