16.0 Improving the Bitcoin Lightning Network || Rusty Russell
Channel: Wasabi Wallet
Date: 30/05/2021

Rusty Russell is an ancient contributor to free software projects like the Linux Kernel, who now focuses on specifying and developing the Bitcoin Lightning Network. He is an early pioneer of the protocol, and is actively involved in improving its usability, security and privacy. Currently he is working on offers (next generation invoices), channel splicing (atomic closing and opening), and dual funded channels (CoinJoin openings).

Watch all Highlights: https://youtube.com/playlist?list=PLPwc75tPMdsjpqK1YHYYG5b55M6Y--6Qd
Watch all full episodes: https://youtube.com/playlist?list=PLPwc75tPMdsixsuhwau82Q0IfxECo0z_E
Website: https://WasabiWallet.io
Blog: https://blog.WasabiWallet.io
Documentation: https://docs.WasabiWallet.io
GitHub: https://github.com/zkSNACKs/WalletWasabi
Podcast: https://anchor.fm/Wasabikas
YouTube: https://youtube.com/c/WasabiWallet

00:00 Introduction

02:28 6 years ago what was your understanding of Bitcoin.

06:25 Linux kernel background. / David S. Miller, The SPARC port of Linux, Usenix (1997) .

15:33 Comparing Linux and Bitcoin.

20:26 Governance. / Forks. / Multiple consensus clients.

23:59 Developer priorities for Bitcoin.

25:41 Multiple implementations. / Multiple versions / Multiple platforms.

26:45 Sidechains vs Lightning Network.

30:07 Coordinating multiple implementations in Lightning.

34:19 Specification vs implementation.

38:31 Dual-funded channels.

40:51 Coinjoin inputs and outputs.

42:58 Coordinating dual-funded channels. / Latency.

44:51 Cryptographic blinding in Lightning.

46:58 2-person CoinJoin vs larger CoinJoins.

48:18 Payjoin inside a CoinJoin. / Refunds. / Offer protocols.

52:19 Why are Offers an additional layer? / Lightning invoice pre-image is not reusable. / Proof of payment.

57:27 Pay-to-endpoint, LNUrl vs Offers.

01:00:11 Recurring payments. / Pull payments.

01:02:09 Shopping cart in the Offer. / BOLT11, BOLT12.

01:03:35 Transaction batching. / Backup requirements for old Offer payments.

01:09:11 Discounts for payments made in advance.

01:11:25 User interface for creating Offers.

01:13:42 Mandatory labelling in Wasabi. / Payer note.

01:16:09 Signature in BOLT11 vs BOLT12. / Obfuscating parts of the invoice.

01:17:28 Outsourcing payment.

01:18:44 Time offline during recurring payment period.

01:22:47 Split payments.

01:25:40 Payments along the supply chain.

01:27:31 Atomic multipath payments for multiple receivers.

01:30:03 Offline recipients in Breeze Wallet don't receive their payment.

01:30:41 Privacy implications of multiple senders, multiple receivers.

01:33:25 Fallback Bitcoin addresses for Offers. / Online requirement. / Redirecting payments.

01:36:05 Information about opening a new channel in an Offer.

01:37:43 Onboarding users to Lightning. / Fiat-to-Lightning on-ramps.

01:40:00 How does a new user receive satoshis? / Phoenix Wallet.

01:42:22 In-built fee-rate for channel opening.

01:42:59 Hodl invoices. / Spam on the Lightning Network.

01:45:21 How can Taproot improve the Lightning Network? / MuSig.

01:48:36 Improvement of non-announced channels. / Use of Schnorr ring signatures.

01:51:27 Use of outpoint in creation of route from the sender.

01:52:15 How do you create a route if you don't know what outpoint they have?

01:53:19 What is needed for private channels?

01:55:00 Rendezvous Routing vs using an encrypted path. / Vendor privacy. / Social routing.

01:59:28 Conclusion.