First Litecoin Lightning Network transaction

Charlie Lee, creator of Litecoin, reported on the succesfull Litecoin transaction, performed using Lightning Network
02 September 2017   4354

Jack Mallers, Litecoin team developer, sent 0.01 Litecoin to Charlie Lee using Lighning Network. He hadn't pay any fees.

What is Lighning Network?

The Lightning Network is a P2P system for making micropayments of digital currencies such as Bitcoin, Litecoin, or Vertcoin through a mesh network of bidirectional payment channels without delegating custody of funds or trust to third parties.

Normal use of the Lightning Network consists of opening a payment channel by committing a funding transaction to the relevant blockchain, followed by making any number of Lightning transactions that update the tentative distribution of the channel's funds without broadcasting to the blockchain, followed by closing the payment channel by broadcasting the final version of the transaction to distribute the channel's funds.

The spec for using the Lightning Network relies on Segregated Witness (SegWit), a feature that has been enabled for the mainnet (production) Bitcoin, Litecoin, and Vertcoinblockchains. 

UCLA Blockchain Crypto Conference to be Held in LA

The UCLA Conference will be held on February 17-18 of 2018, gathering together the most experienced and exciting thinkers
17 February 2018   226

UCLA's Blockchain Lab and Far from LA are holding the Blockchain Cryptocurrency Conference, gathering together the most experienced and exciting thinkers across SoCal, in order to foster both economic and educational progress. The conference will concern cybersecurity, cryptocurrencies, and blockchain.

The UCLA Conference will be held on February 17-18 of 2018.

Location: The University of California, Humanities Building, 415 Portola Plaza, UCLA 90095, Los Angeles

The headline speakers will include Kathleen Breitman, the co-founder of Tezos; Sandra Ro from UWIN Lab; David Moss from EOS; Jeremy Rubin, the Bitcoin core developer, and many more.

The agenda of the conference is as follows: the future of blockchain keynote, bringing humanity to the blockchain, cybersecurity, autonomous vehicles, blockchain's influence on the development of art and culture, blockchain in the music industry, government adoption of blockchain around the world, and more.