Related papers: Algorithmic Blockchain Channel Design
Off-chain transaction channels represent one of the leading techniques to scale the transaction throughput in cryptocurrencies. However, the economic effect of transaction channels on the system has not been explored much until now. We…
We consider the problem of being a cross-chain wealth management platform with deposits, redemptions and investment assets across multiple networks. We discuss the need for blockchain bridges to facilitates fund flows across platforms. We…
Payment channel networks (PCNs) have been designed and utilized to address the scalability challenge and throughput limitation of blockchains. Routing is a core problem of PCNs. An ideal PCN routing method needs to achieve 1) high…
Payment channels effectively move the transaction load off-chain thereby successfully addressing the inherent scalability problem most cryptocurrencies face. A major drawback of payment channels is the need to ``top up'' funds on-chain when…
The Lightning Network is a peer-to-peer network designed to address Bitcoin's scalability challenges, facilitating rapid, cost-effective, and instantaneous transactions through bidirectional, blockchain-backed payment channels among network…
The payment channel, which allows two parties to perform micropayments without involving the blockchain, has become a promising proposal to improve the scalability of decentralized ledgers such as Bitcoin and Ethereum. Payment channels have…
Digital payments play a pivotal role in the burgeoning digital economy. Moving forward, the enhancement of digital payment systems necessitates programmability, going beyond just efficiency and convenience, to meet the evolving needs and…
With emergence of blockchain technologies and the associated cryptocurrencies, such as Bitcoin, understanding network dynamics behind Blockchain graphs has become a rapidly evolving research direction. Unlike other financial networks, such…
Blockchain is rapidly emerging as an important class of network application, with a unique set of trust, security and transparency properties. In a blockchain system, participants record and update the `server-side' state of an application…
Payment channel networks provide a fast and scalable solution to relay funds, acting as a second layer to slower and less scalable blockchain protocols. In this paper, we present an accessible, low-cost attack in which the attacker…
The Bitcoin Lightning Network (LN) is designed to improve the scalability of blockchain systems by using off-chain payment paths to settle transactions in a faster, cheaper, and more private manner. This work aims to empirically study LN's…
Blockchain is a decentralized transaction and data management solution, the technological leap behind the success of Bitcoin and other cryptocurrencies. As the variety of existing blockchains and distributed ledgers continues to increase,…
Blockchain technology and, in particular, blockchain-based cryptocurrencies offer us information that has never been seen before in the financial world. In contrast to fiat currencies, all transactions of crypto-currencies and crypto-tokens…
In the light of the recent fame of Blockchain technologies, numerous proposals and projects aiming at better practical viability have emerged. However, formally assessing their particularities and benefits has proven to be a difficult task.…
In the past decade, blockchain has shown a promising vision greatly to build the trust without any powerful third party in a secure, decentralized and salable manner. However, due to the wide application and future development from…
Payment channel networks (PCNs) are viewed as one of the most promising scalability solutions for cryptocurrencies today. Roughly, PCNs are networks where each node represents a user and each directed, weighted edge represents funds…
Designing an efficient model within the limited computational cost is challenging. We argue the accuracy of a lightweight model has been further limited by the design convention: a stage-wise configuration of the channel dimensions, which…
The main problem faced by smart contract platforms is the amount of time and computational power required to reach consensus. In a classical blockchain model, each operation is in fact performed by each node, both to update the status and…
In modern network design, "efficiency" is often conflated with raw performance metrics like latency or aggregate throughput. This paper proposes a resource-centric definition of efficiency, isolating the hardware cost required to maintain a…
Payment channel networks are an approach to improve the scalability of blockchain-based cryptocurrencies. Because payment channel networks are used for transfer of financial value, their security in the presence of adversarial participants…