Lightning Network: Payments so small, it's a stream (S03 E10)

The Technium

Lightning Network is a network of payment forwarders layered on top of Bitcoin to enable small, fast micropayments with low fees.

Links/Resources:
- https://lightning.network/
- https://www.swanbitcoin.com/a-look-at-the-lightning-network/
- [https://web.archive.org/web/20150301190111/http://lightning.network/lightning-network.pdf](https://web.archive.org/web/20150301190111/http://lightning.network/lightning-network.pdf)
- [https://lightning.network/lightning-network-technical-summary.pdf](https://lightning.network/lightning-network-technical-summary.pdf)
- [https://open.spotify.com/episode/1usKtNJonBszrq5lzad8eh?si=RvuAtKbjSqmyfT--FkNogg](https://open.spotify.com/episode/1usKtNJonBszrq5lzad8eh?si=RvuAtKbjSqmyfT--FkNogg) About routing
- [https://www.kevinrooke.com/post/when-sending-money-is-instant-and-free](https://www.kevinrooke.com/post/when-sending-money-is-instant-and-free)
- [https://www.kevinrooke.com/post/the-lightning-networks-next-big-use-case](https://www.kevinrooke.com/post/the-lightning-networks-next-big-use-case)
- [https://bitfury.com/content/downloads/whitepaper_flare_an_approach_to_routing_in_lightning_network_7_7_2016.pdf](https://bitfury.com/content/downloads/whitepaper_flare_an_approach_to_routing_in_lightning_network_7_7_2016.pdf)
- [https://1ml.com/](https://1ml.com/)
- [https://explorer.acinq.co/](https://explorer.acinq.co/)
- [https://github.com/davidshares/Lightning-Network](https://github.com/davidshares/Lightning-Network)
- [https://docs.lightning.engineering/](https://docs.lightning.engineering/)
- [https://twitter.com/kerooke](https://twitter.com/kerooke)
- [https://blog.coinbase.com/is-the-bitcoin-lightning-network-for-real-26e47029687f](https://blog.coinbase.com/is-the-bitcoin-lightning-network-for-real-26e47029687f)
- [https://vitalik.ca/general/2021/01/05/rollup.html](https://vitalik.ca/general/2021/01/05/rollup.html) (good summary on payment channels and how they compare to rollups, even though this is on ethereum network)
- [https://www.impervious.ai/](https://www.impervious.ai/)
- [https://diar.co/volume-2-issue-25/](https://diar.co/volume-2-issue-25/)
- [https://www.youtube.com/watch?v=qUAyW4pdooA](https://www.youtube.com/watch?v=qUAyW4pdooA)
- [https://github.com/bcongdon/awesome-lightning-network](https://github.com/bcongdon/awesome-lightning-network)

Show notes
- Patio11: https://twitter.com/patio11
- Flare routing: https://bitfury.com/content/downloads/whitepaper_flare_an_approach_to_routing_in_lightning_network_7_7_2016.pdf
- The nature of the firm https://onlinelibrary.wiley.com/doi/full/10.1111/j.1468-0335.1937.tb00002.x

Chapters:

[00:02:21] What is Lightning Network?
[00:08:53] How does it work?
[00:18:51] Payments without Infrastructure
[00:25:34] Routing the Network
[00:36:00] Low value, High volume
[00:39:42] Micropayments for API metering
[00:43:09] Micropayments for Open Source
[00:49:12] Idea Accrediation Network
[01:01:20] Structuring Our Society
[01:15:01] Micropayments Change Relationships of the Firm
[01:21:36] Taking a position

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The Technium is a weekly podcast discussing the edge of technology and what we can build with it. Each week, Sri and Wil introduce a big idea in the future of computing and extrapolate the effect it will have on the world.

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