Enabling Micro-payments on IoT Devices using Bitcoin Lightning Network
Abstract
Lightning Network (LN) addresses the scalability problem of Bitcoin by leveraging off-chain transactions. Nevertheless, it is not possible to run LN on resource-constrained IoT devices due to its storage, memory, and processing requirements. Therefore, in this paper, we propose an efficient and secure protocol that enables an IoT device to use LN's functions through a gateway LN node. The idea is to involve the IoT device in LN operations with its digital signature by replacing original 2-of-2 multisignature channels with 3-of-3 multisignature channels. Our protocol enforces the LN gateway to request the IoT device's cryptographic signature for all operations on the channel. We evaluated the proposed protocol by implementing it on a Raspberry Pi for a toll payment scenario and demonstrated its feasibility and security.
Cite
@article{arxiv.2012.10576,
title = {Enabling Micro-payments on IoT Devices using Bitcoin Lightning Network},
author = {Ahmet Kurt and Suat Mercan and Enes Erdin and Kemal Akkaya},
journal= {arXiv preprint arXiv:2012.10576},
year = {2021}
}
Comments
To be published at 2021 IEEE ICBC in Poster Track