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Payment channels

The History of Lightning: From Brainstorm to Beta

The Lightning Network, the long-awaited Bitcoin overlay network for cheap and instant transactions, has passed a major milestone that has been years in the making. This is the story so far.

This New Scaling Layer Could Make Payment Channels Ten Times More Effective

There is no disputing the fact that the Bitcoin network has scalability problems. Micropayment channels are a solution to increase the transaction rate and...

Lightning Network One Step Closer to Reality as Lightning Labs Announces Alpha Release

Lightning Labs, one of the prominent companies working to realize thelightningnetwork, announced this week the alpha release of the open-source lightning daemon they've been spearheading:...

The Teechan Solution: Scaling Bitcoin With Trusted Hardware

Scalability has been a central issue within the Bitcoin community for well over a year now.Amongst the most promising innovations being developed are bidirectional...

How the Lightning Network Layers Privacy on Top of Bitcoin

Bitcoin right now is not really anonymous. Monitoring of the unencrypted peer-to-peer network and analysis of the public blockchain, combined with Know Your Customer (KYC)...

With TumbleBit, Bitcoin Mixing May Have Found Its Winning Answer

Bitcoin right now is not really anonymous. Monitoring the unencrypted peer-to-peer network, analyzing the public blockchain or Know Your Customer (KYC) policies and Anti-Money Laundering...

How to Secure Bitcoin Exchanges, or Why All Hope Is Not Lost

Last week’s Bitfinex hack, in which Bitcoin’s leading exchange lost almost 120,000 bitcoins valued some $70 million USD at the time, represented a depressing...

Understanding the Lightning Network, Part 3: Completing the Puzzle and Closing the Channel

The Lightning Network is probably the most highly anticipated technological innovation that will be deployed on top of Bitcoin. The payment layer, first proposed...

Understanding the Lightning Network, Part 2: Creating the Network

The Lightning Network is probably the most highly anticipated technological innovation to be deployed on top of Bitcoin. The payment layer, first proposed by...

Understanding the Lightning Network, Part 1: Building a Bidirectional Bitcoin Payment Channel

The Lightning Network is probably the most highly anticipated technological innovation to be deployed on top of Bitcoin. The payment layer, first proposed by Joseph Poon and Tadge Dryja about a year ago, promises to support a virtually unlimited number of off-chain transactions among users, at nearly no cost – while leveraging the security offered by Bitcoin.
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