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Bcoin hackathon slides


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Monetizing Full Nodes hackathon project - Alex Bosworth, Nathan Basanese, Michael Folkson

Published in: Technology
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Bcoin hackathon slides

  1. 1. Monetizing Full Nodes
  2. 2. How lightning nodes are perceived
  3. 3. How we envisage lightning nodes Alice Bob
  4. 4. Lightning Transaction @ Bcoin hackathon Nathan Alex
  5. 5. How will lightning nodes monetize? • Offer both off-chain and lightning transactions • Information on users’ transactions • Ability to sell other services to users • Provide users opportunities to earn Bitcoin themselves (e.g. 21 Earn)
  6. 6. • Bcoin runs everywhere and everyone can hack on it • Bcoin could be part of every browser (maximal decentralization) • Increases the resilience of the P2P network (alternative implementation)
  7. 7. Oracle services • Users enter into P2P risk contracts (e.g. on RiskBazaar, Augur) • Allocate a lightning node as the oracle • Lightning node reports on events / answers questions for a fee e.g. state of blockchain
  8. 8. Solving the block size debate • Incentivizing the running of Bitcoin full node • More people running full nodes -> More decentralization • Ability to generate revenue will make it more affordable to run full node with bigger blocks
  9. 9. P2P Contract on RiskBazaar
  10. 10. Laolu (Roasbeef)’s node Michael Nathan “Laolu – did the kids receive the Bcoin hackathon prize of 1BTC on the blockchain?”