Summary of the May 18 MIT L2 Summit, discussing layer two scaling, complete with description and links to presentation videos (+ my top 3 favorites)

List also available on Twitter: twitter.com/SomsenRuben/status/1018052262759821312

  1. Introduction (Neha Narula, Director MIT DCI). Presenting an argument why L2 scaling matters (on-chain doesn't scale). youtu.be/jzoS0tPUAiQ?t=262

  2. The Near Future of Lightning (Connor Fromknecht, Lightning Labs). An overview of lightning, discussing amps, splicing, watchtowers (encrypted blobs). youtu.be/jzoS0tPUAiQ?t=918

  3. Non-Custodial Crypto-to-Crypto Trading (Sharon Goldberg, Commonwealh Crypto Inc.), discussing ideas for decentralized exchanges. youtu.be/jzoS0tPUAiQ?t=2488

  4. Discreet Log Contracts (Tadge Dryja, MIT). An overview of the tech, similar to talks at previous events, and a demo. youtu.be/jzoS0tPUAiQ?t=4321

  5. Using Truebit for verifying offchain computations (Sami Makela, Truebit). Taking computation off-chain and only using the blockchain for disputes. Low on technical details. youtu.be/jzoS0tPUAiQ?t=5944

  6. Panel on State Channels (five participants). Talking about different state channel solutions and how they operate. youtu.be/jzoS0tPUAiQ?t=7849

  7. Interledger, L2, L3, and Beyond (Evan Schwartz, Ripple engineer). A layer between L2 solutions (seems excessive to me). youtu.be/jzoS0tPUAiQ?t=11315

  8. Scriptless Scripts (Andrew Poelstra, Blockstream). Basic overview, plus blind atomic swaps, zero knowledge contingency payments, Lightning payment hops. youtu.be/jzoS0tPUAiQ?t=12965

  9. Building yalls.org with Lightning (Alex Bosworth, Lightning App Dev). Discussing real problems from implementing Lightning micropayments, and possible mitigations. youtu.be/jzoS0tPUAiQ?t=14570

  10. Fireside Chat (Elizabeth Stark, Lightning Labs). Her experience working on Lightning. youtu.be/jzoS0tPUAiQ?t=15969

My three favorite talks (chronological):

  1. The Near Future of Lightning youtu.be/jzoS0tPUAiQ?t=918

  2. Scriptless Scripts youtu.be/jzoS0tPUAiQ?t=12965

  3. Building yalls.org with Lightning youtu.be/jzoS0tPUAiQ?t=14570

submitted by /u/RubenSomsen
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Bitcoin – The Currency of the Internet

“My bit gold design in 1998 was 2-layer: bit gold for settlement, Chaumian e-cash for a privacy-enhanced payments layer. I’ve always thought of Bitcoin as evolving into a settlements-and-large-payments layer that in the long term needed a layer 2 for consumer payments.” -Nick Szabo

"My bit gold design in 1998 was 2-layer: bit gold for settlement, Chaumian e-cash for a privacy-enhanced payments layer. I've always thought of Bitcoin as evolving into a settlements-and-large-payments layer that in the long term needed a layer 2 for consumer payments." -Nick Szabo submitted by /u/norrinsyra_
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Bitcoin – The Currency of the Internet

Microsoft: “Some blockchain communities increased on-chain tx capacity (blocksize increases), this approach generally degrades the decentralized state & cannot reach the millions… we’re collaborating on decentralized Layer 2 protocols that run atop ‘BTC’ blockchain to achieve global scale”

Microsoft: "Some blockchain communities increased on-chain tx capacity (blocksize increases), this approach generally degrades the decentralized state & cannot reach the millions... we're collaborating on decentralized Layer 2 protocols that run atop 'BTC' blockchain to achieve global scale" submitted by /u/antonesamy
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Bitcoin – The Currency of the Internet

The future is clear: Bitcoin can and will do anything that altcoins can do, but better, using sidechains/layer2. And Bitcoin does it on the blockchain layer that is the most proven, secure, trusted, and decentralized.

Compared to altcoins, Bitcoin’s sidechain/layer2 functionality has more community, competition, tech, people, capital, flexibility.

And it is here today.

  • There is Lighting of course with near instant transactions and near zero fees at any scale.

  • There are fully anonymous transactions via ZeroLink and TumbleBit

  • Smart contracts and instant payment via RSK

  • Near instant and confidential trading between exchanges via Liquid

And much more underway now…and this is still just the dawn…not even sidechain gen1…just the sunrise.

submitted by /u/bitcoince
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Bitcoin – The Currency of the Internet

The future is clear: Bitcoin can and will do anything that altcoins can do, but better, using sidechains/layer2. And Bitcoin does it on the blockchain layer that is the most proven, secure, trusted, and decentralized. (reddit.com)

Compared to altcoins, Bitcoin’s sidechain/layer2 functionality has more community, competition, tech, people, capital, flexibility. And it is here today. There is Lighting of course with near instant transactions and near zero fees at any scale. There are fully anonymous transactions via ZeroLink and TumbleBit Smart…

Bitcoin