Free Webinar
The lightning network: A bitcoin scalability solution: 24 May 2022 | An IITPSA Blockchain SIG Event
Bitcoin payments have been limited to about 7 transactions a second because of the nature of decentralization and proof of work. The lightning network was created as a solution to this problem. It was launched in 2015 and is a transaction network that uses payment channels separate from bitcoin’s mainnet blockchain but it eventually settles on the bitcoin blockchain. This enables the lightning network to have a higher transaction throughput and with less transaction fees than a bitcoin transaction.
In this event John Singh will explain in simple terms how the lightning network operates and will also go into some of the finer technical details of the technology. John will also present some statistics on the usage of the lightning network and whether it will play a major role in the crypto eco-system.
Presenters
IITPSA (Tony Parry)
Webinar Host
John Singh
John Singh is a Senior Systems Analyst at the Spar Group LTD and has been involved in software design and development for over 20 years. He is also currently a non-executive director of the IITPSA and the treasurer of the KZN Chapter of the IITPSA. John discovered an interest in Blockchain and Cryptocurrency about four years ago. He has invested in cryptocurrency and spends much of his spare time researching the technology behind the blockchain. In 2019 he started an IITPSA Blockchain SIG in KZN because he is passionate about presenting Blockchain in a simple and understandable way so that individuals can make better decisions on how they wish to use the technology.
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