[AUDIENCE] You mentioned layered technologies.
With Bitcoin as layer one, you said that layer two.. might be the Lightning Network.
[ANDREAS] Yes. [AUDIENCE] Do you know layer three? [ANDREAS] No. To repeat the question… I mentioned layered technology. If Bitcoin is
layer one… We are geeks, so it is layer zero. If layer one is the Lightning Network, then what is
layer two, and have I thought about other layers? It is really difficult to see how the layers evolve,
what the interfaces between the layers [will be], and which functions end up in which layers. Keep in mind: there will be more than one stack. Above IP, there were multiple transmission
control stacks, including the OSI layer. Below IP, there are multiple stacks
that most people never see. Software-defined networking;
before that, fiber networks, etc. It is impossible to know exactly
how [these layers] will play out. What I can tell you is that these protocols will not be
built monolithically. One layer will not do everything. It doesn’t make sense from an architecture perspective.
That doesn’t mean we won’t scale Bitcoin. We will scale Bitcoin [in such a way] that
the layers above it will scale even further. [We don’t] want to do everything in a single layer.
It doesn’t make sense and it doesn’t work.