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How was the Hackathon ⚡Lightning Network HackDay

Berlin. June 2018
Aleksandr Noxon comment 0 Comments

This post is also available in: Русский (Russian) 한국어 (Korean)

An IT-startup can cost several billions, while causing losses or working at 0 at the moment. This is possible due to the faith of investors in the great future of the company. The reason of faith can be for everyone:

  • Someone believes in the marketing capabilities of the company – it is not necessarily to have the best product, but if the team can get everyone to use it (for example, WhatsApp messenger), the messenger users will create value for other users (you can easily contact anyone) and  attract more and more users into the product.

  • Someone believes in technology / product – the company came up with something that can dramatically improve the current user experience. While other companies will understand how it works, and will be able to do something like that, our company will already go far ahead.
  • Another reason. 🙂

The swap.online project moves the future of blocking technologies forward. Our team has already got people with unique knowledge and rare skills that complement each other. But current knowledge is not enough to realize all our ideas. Therefore, the CEO of the Swap.Online project, Alexander Noxon, together with Pasha Ivanov and Alexei Bykhun, went to Berlin to the HackathonLightning Network Hackday.

Страничка хакатона в сервисе meetup

Bitcoin Lightning Network Hackday #2 на meetup.com

The event will bring together few people, but it will be people who determine the future of the most important blockchainr – Bitcoin. Bitcoin has a huge potential In P2SH-addresses , that is able to sort out the most acute problems of the blockchain – the speed and cost of transactions.

Aleksandr Noxon, CEO Swap.Online

On the hakaton we set ourselves the task of developing a swap between Bitcoin from the Lightning network and the Etherium. Ideally, we wanted to connect the lightning payments directly on the Balance page in Swap.Online.

Ind CTO and the main developer became interested in our project. Together with the main developer of swap.core Pasha Ivanov  they discussed how to connect the external system (in our case swap.online) and lnd – the leader among software developers for the lightning network.

with https://github.com/roasbeef

After personal communication to connect Lightning to the balance sheets was a simple matter. But it was too early to rejoice. “Friending” Lightning with the Ethereum was much more difficult.

Nevertheless, despite all the difficulties, our developer Alexei Byhun  managed to do it at least. The results were presented to the court:

In addition to developing a swap between Lightning and the Ethereum, we discussed swaps as such with our colleagues. There was Daniel McNally in the focus group, a developer from the Exchange Union team (their tokens are already traded on the exchange, although the finished product is not yet available).

During the discussion, participants noted the advantages of swap.online: our future customers will have the opportunity to trade without downloading software, directly in the browser. This is more convenient than the Exchange Union experience. At least what Daniel demonstrated required downloading and installing the client to his computer.

We received positive feedback from other developers about our project. It was especially nice to see their surprise when they realized that it was already working right now, right in the browser.

Thanks to communication with competent developers Alexey Bykhun and Pasha Ivanov spent a half a day, did the research and wrote a code that would take several weeks to create in another place.

Another advantage of the trip to Bitcoin Lightning Network Hackday:

  • Completed the FAQ section with questions: “In what language this is written?”, “Where can I take a look at your smart contracts?”
  • We figured out what other teams are doing now in the development of the most important blockchain, Bitcoin.
  • We made friends with Ind and decided to use their achievements in the future.
  • We trained to talk about our project in English. “We have a place to grow,” Noxon admits.
  • We got the likes and were added to the public catalogs of Lightning Apps.
  • Presented themselves as strong technical experts to other colleagues.
  • The most important thing was that we met and resolved a difficult task in a short time. In the future, it will not be difficult to translate everything into production. First of all, our developers understand this.
  • We will be among the first to launch offchain trades on OTC Market Swap.Online.

Stay tuned.

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