The Lightning Network is a second layer protocol that sits on top of the Bitcoin cryptocurrency. It is a decentralized network of payment channels first conceptualized in 2014 and its first implementation was released in 2017. Being a fairly new technology, it may have security issues that we do not know of and the goal of this report is to analyse the Lightning Network to further investigate its security properties. The focus of this analysis is on answering whether the confidential data is kept secret and whether the user authenticity holds in the protocol. In the analysis we use the process algebra to formally describe cryptographic protocols that form the Lightning Network and an automatic cryptographic protocol analyser called ProVerif for their analysis.