IoT and enterprise-oriented Smart Contracts using Bitcoin, through the Lightning Network
The Lightning Network is a layer 2 decentralized network designed for instant micropayments on Bitcoin. Layer 2 solutions act as the overlay of an already existing blockchain and solve the problems of transaction scalability and speed that the main blockchain (layer 1) cannot address effectively enough. This feature of the Lightning Network technically enables users to realize instant, high-volume micropayments in Bitcoins. Until now, no technical solution has met this need for Smart Contracts in the Bitcoin network.
Kalima and Kerlink are working together on a new solution for Smart Contracts, based on the Kalima Blockchain industrial protocol, specifically designed for enterprises and IoT, which will enable Lightning Network (Bitcoin) microtransactions. The goal is simple: make Bitcoin payments possible using the Lightning Network layer and authenticate/secure enterprise and IoT data, thanks to Kalima Smart Contracts put in place.IoT and enterprise-oriented Smart Contracts using Bitcoin, through the Lightning Network
Technical demonstration based on a real-world experience at Surfin’ Bitcoin
From Aug. 25 to 27, during the Surfin’ Bitcoin event in Biarritz, Kalima and Kerlink will show a concrete IoT use case of Smart Contracts for Lightning Network and Bitcoin.
The workshop will demonstrate how the Kalima protocol, through the execution of Smart Contracts in a Kerlink LoRaWAN® gateway, can trigger micropayments in Bitcoin on the Lightning Network, fitting IoT scenarios and parameters.
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