{"id":6547,"date":"2018-12-05T02:00:28","date_gmt":"2018-12-05T10:00:28","guid":{"rendered":"http:\/\/softwareengineeringdaily.com\/?p=6547"},"modified":"2021-11-01T19:10:52","modified_gmt":"2021-11-02T02:10:52","slug":"bitcoin-payment-channels-with-alex-bosworth","status":"publish","type":"post","link":"https:\/\/softwareengineeringdaily.com\/2018\/12\/05\/bitcoin-payment-channels-with-alex-bosworth\/","title":{"rendered":"Bitcoin Payment Channels with Alex Bosworth"},"content":{"rendered":"<p><img decoding=\"async\" data-attachment-id=\"2475\" data-permalink=\"https:\/\/softwareengineeringdaily.com\/2016\/04\/19\/googles-container-management-brendan-burns\/brendan-burns\/\" data-orig-file=\"https:\/\/i0.wp.com\/softwareengineeringdaily.com\/wp-content\/uploads\/2016\/04\/brendan-burns.jpg?fit=175%2C175&amp;ssl=1\" data-orig-size=\"175,175\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"brendan-burns\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/softwareengineeringdaily.com\/wp-content\/uploads\/2016\/04\/brendan-burns.jpg?fit=175%2C175&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/softwareengineeringdaily.com\/wp-content\/uploads\/2016\/04\/brendan-burns.jpg?fit=175%2C175&amp;ssl=1\" class=\"alignright size-full wp-image-2475\" style=\"border-radius: 50%; border: 1px solid #000000; max-width: 175px; max-height: 175px;\" src=\"https:\/\/i0.wp.com\/softwareengineeringdaily.com\/wp-content\/uploads\/2018\/12\/alexbosworth.jpg?resize=175%2C175\" width=\"175\" height=\"175\" data-recalc-dims=\"1\" \/><\/p>\n<p>The Bitcoin main chain is a large distributed ledger of transactions. Bitcoin is useful for maintaining a trusted record of payments, but is not practical for small day-to-day payments.<\/p>\n<p>Bitcoin payment channels allow users to issue small payments to each other without paying the high transaction cost and latency of going through the main chain. When payment channels are connected to each other, a \u201clightning network\u201d is formed. Lightning network is often referred to as a \u201csecond layer\u201d scalability solution.<\/p>\n<p>Alex Bosworth is a lightning infrastructure lead at Lightning Labs, a company that builds infrastructure for scaling blockchains. In today\u2019s show, Alex explains how Bitcoin payment channels work, and provides some context on how developed the modern infrastructure is in terms of practical use cases for Bitcoin.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Bitcoin main chain is a large distributed ledger of transactions. Bitcoin is useful for maintaining a trusted record of payments, but is not practical for small day-to-day payments. Bitcoin payment channels allow users to issue small payments to each other without paying the high transaction cost and latency of going through the main chain.<\/p>\n","protected":false},"author":16,"featured_media":6548,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"Bitcoin Payment Channels with Alex Bosworth @lightning @alexbosworth #Blockchain #LightningNetwork","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[1363,2143,14,1082],"tags":[91,97,1907],"class_list":["post-6547","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-episodes","category-exclusive-content","category-podcast","category-web3","tag-bitcoin","tag-blockchain","tag-lightning-network"],"jetpack_publicize_connections":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitcoin Payment Channels with Alex Bosworth - Software Engineering Daily<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/softwareengineeringdaily.com\/2018\/12\/05\/bitcoin-payment-channels-with-alex-bosworth\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Payment Channels with Alex Bosworth - Software Engineering Daily\" \/>\n<meta property=\"og:description\" content=\"The Bitcoin main chain is a large distributed ledger of transactions. 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