Segregated Witness & Lightning Network: Implications on the Future of Payment | SGInnovate
June 11-12


Perl @ BASH, Level 3
79 Ayer Rajah Crescent
Singapore 139955


Standard 2-day ticket - $50

Segregated Witness & Lightning Network: Implications on the Future of Payment

Presented by Singapore University of Social Sciences. Partnered With SGInnovate

In this 2-day course we will take a deep dive into the recent developments in the Bitcoin and Litecoin blockchains, namely the implementations of Segregated Witness (SegWit) and Lightning Network, including the community dispute on the activation of SegWit on Litecoin. 

The course will provide a brief introduction on the structure of blockchains, and cover the recent debate on the scalability issues of the Bitcoin blockchain, which eventually resulted in a hard-fork on the Bitcoin blockchain. The course will include a thorough review of the design principles of Segregated Witness, how it solves the transaction malleability issue and eventually became the enabling technology for Lightning Network. 

The course will also engage in a comprehensive overview of Lightning Network. Participants will be able to see how a fast payment channel is established, how multiple payment channels are connected, and how transactions are routed across the whole Lightning Network.

Segregated Witness (SegWit) and Lightning Network are the key techniques that enable fast payment channel to be established between two (or more) users on the blockchain. This year, both Bitcoin and Litecoin have officially launched the Lightning Network on the mainnet, and users are able to perform near-instant transactions with minimal transaction fees, creating a vision of using cryptocurrency for micropayment. In this workshop, Dr. Wang Xinxi of the Litecoin Foundation will describe the blockchain scalability issues and the need for SegWit and Lightning Network. The workshop will cover principles of Lightning Network, how it was deployed on Litecoin, alongside with demo(s) by the instructor. 

This workshop is suitable for anyone who aims to gain an in-depth understanding on performing payments on blockchain and its implications on businesses, and/or to develop own blockchain applications deploying Lightning Network.

Note: Participants are strongly encouraged to have a basic understanding of the Python programming language. 

For Python beginners with no programming background, a good tutorial can be found at:

For Python beginners with programming background, an introduction can be found at: You may also find a useful reference.


A. Knowledge and Understanding (Theory Component) 

At the end of this course, participants should be able to: 

  • Describe the structure and mechanism of Blockchains 
  • Discuss the scalability issues on the Bitcoin blockchain and the need for SegWit 
  • Explain the principles of Lighting Network, and its strength and weakness 
  • Illustrate how SegWit and Lightning Network were activated on Litecoin 

B. Key Skills (Practical Component) 

At the end of this course, participants should be able to: 

  • Create, send and receive Bitcoin/Litecoin transactions 
  • Create an altcoin based on Bitcoin’s code 
  • Use the Lightning Network 


Day 1
09:00 - 09:15 2-Day Course Overview

09:15 - 10:45 History of cryptocurrencies:

  • Pre-history of cryptocurrencies
  • Bitcoin Creation
  • Litecoin Creation

10:45 - 12:45 Deep dive into Bitcoin/Litecoin Blockchain structure

  • Structure of a transaction
  • Bitcoin/Litecoin addresses and base58 encoding
  • Multisig transactions and smart contracts
  • Merkle Tree
  • Demo of blockchain explorer/transaction creation, sending and receiving.

12:45 - 13:45 Lunch

13:45 - 15:15 Consensus and mining

  • What is consensus
  • Proof of work
  • Bitcoin and Litecoin’s mining mechanisms
  • Comparison and discussion on proof of work and proof of stake

15:15 - 16:30 Bitcoin/Litecoin scalability and transaction malleability issues

  • Transaction malleability / The bankruptcy of Mt.Gox.
  • Block-size debate
  • SegWit
  • Soft-fork and hard-fork
  • How the Litecoin team activated SegWit on Litecoin
  • Bitcoin Cash

16:30 - 17:00 Assessment

Day 2
09:00 – 09:15 Overview of the Day

09:15 – 10:45 Lightning Network – Bidirectional Payment Channels
What is Lightning Network
The application of Lightning Network & the implications
Lightning Network transaction in one channel

10:45 – 11:00 Break

11:00 – 13:00 Lightning Network – Hash Time-Locked Contracts
Lightning Network transaction between multiple channels

13:00 – 14:00 Lunch

14:00 – 15:30 Lightning Network – Completing a transaction and Routing

15:30 – 15:45 Break

15:45 – 17:00 Lightning Network – demo

17:00 – 17:30 Assessment


Trainer’s Profile:

Dr. Wang Xinxi 
Director and Founding Member, Litecoin Foundation 

Dr. Wang Xinxi is the founder and CEO of and a co-founder of the Litecoin Foundation. He obtained his Ph.D. degree in computer science from the National University of Singapore in 2015 with a focus on machine learning/recommender systems. Before that, he obtained his bachelor’s degree from Harbin Institute of Technology in China. Xinxi had gained years of experience in automated trading in the forex markets before diving into the fascinating cryptocurrency world, combining his background in computer science and financial trading. In 2014, he founded, one of the most advanced cryptocurrency exchanges in the world. 
In 2016, Xinxi joined the Litecoin Core development team and quickly realized that a shortage of resources was limiting Litecoin’s progress. With that in mind, he co-founded the Litecoin Foundation in Singapore and has helped raise more than $1M from the Litecoin community to support Litecoin's development. Xinxi lives in Singapore and enjoys traveling around the world.

Topics: Blockchain

You may also like the following:

  • 1 Day Blockchain Workshop For C-Level

    Is your organisation exploring Blockchain technology? Popularly known as the underlying technology behind bitcoin, Blockchain technology has the potential to enable ground-breaking innovations and streamline your business processes. Together with TNO, The Netherlands Organisation for applied scientific research, and Blockchain Pilots, SGInnovate is delighted to bring to you a 1-day Blockchain Workshop targeting at the C-Levels.



  • Quantum Tech: From Science to Business Applications

    How is quantum technology going to change our daily life? Can quantum computers predict our future? What are the possible business applications and how do we prepare for them starting today? We’ll take a deep look into technology – moving from theory to practical implementation


    Artificial Intelligence / Deep Learning / Machine Learning / Robotics, Blockchain, Data Science / Data Analytics

  • Technical Seminar on Building blocks: Introduction to Blockchain

    Build the foundations for an exciting and lucrative career in blockchain and distributed ledger technology. Together with Kingsland University – School of Blockchain and Ngee Ann Polytechnic, SGInnovate is pleased to introduce a 1 Day Technical Seminar on Building blocks: Introduction to Blockchain. 



  • Future Economy: Innovating Supply Chain and Logistics in Singapore

    The number of blockchain applications is endless, and transportation, logistics, and supply chain management is one of the key industries that will be revolutionized by blockchain technology. In this session, we discuss how blockchain technology is able to resolve some of the problems the transportation and supply chain industry currently face.



  • Guest Writer

    Blockchain’s big innovation: trust

    Blockchain boils down to establishing trust among disparate parties, our blockchain newbie learned at SGInnovate’s Blockchain Research and Industry Introduction Workshop.

    This article was written by Brenda Lau, who is a Science and Technology writer in Asian Scientist.

    Topics: Blockchain, Data Science / Data Analytics, Others

  • SGInnovate Doubles Down on Blockchain And AI

    Fintech News published an article on the latest announcements made by SGInnovate at the Deep Tech Summit. SGInnovate is partnering with Ngee Ann Polytechnic (NP) and Kingsland University School of Blockchain to launch Singapore’s first certified blockchain developer programme. NP will be will be providing its experience in education while Kingsland School of Blockchain and SGInnovate will be providing their technical expertise and practical deep tech knowledge to the course. In addition, SGInnovate also announced that it is investing in three deep tech startups, Tricog Health, ThinCl Inc and Quantiply.

    Topics: A.I., Blockchain