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While the original purpose of blockchains was to realize a payment system, it has been shown that, in fact, such systems do not require consensus and can be implemented deterministically in asynchronous networks. State-of-the-art payment…
Cryptocurrency networks such as Bitcoin have emerged as a distributed alternative to traditional centralized financial transaction networks. However, there are major challenges in scaling up the throughput of such networks. Lightning…
Offchain networks provide a promising solution to overcome the scalability challenges of cryptocurrencies. However, design tradeoffs of offchain networks are still not well-understood today. In particular, offchain networks typically rely…
Off-chain transaction channels represent one of the leading techniques to scale the transaction throughput in cryptocurrencies such as Bitcoin. They allow multiple agents to route payments through one another. So far, the topology and…
Despite growing adoption of cryptocurrencies, making fast payments at scale remains a challenge. Payment channel networks (PCNs) such as the Lightning Network have emerged as a viable scaling solution. However, completing payments on PCNs…
Payment channel is a protocol which allows cryptocurrency users to route multiple transactions through network without committing them to the main blockchain network (mainnet). This ability makes them the most prominent solution to…
Payment channel networks are supposed to overcome technical scalability limitations of blockchain infrastructure by employing a special overlay network with fast payment confirmation and only sporadic settlement of netted transactions on…
Blockchain has received increasing attention in academia and industry. However, the increasing transaction volumes and limited on-chain storage underscore scalability as a key challenge hindering the widespread adoption of blockchain.…
The last decade has experienced a vast interest in Blockchain-based cryptocurrencies with a specific focus on the applications of this technology. However, slow confirmation times of transactions and unforeseeable high fees hamper their…
A major challenge in blockchain sharding protocols is that more than 95% transactions are cross-shard. Not only those cross-shard transactions degrade the system throughput but also double the confirmation time, and exhaust an already…
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…
Cryptocurrencies such as Bitcoin and Ethereum have made payment transactions possible without a trusted third party, but they have a scalability issue due to their consensus mechanisms. Payment networks have emerged to overcome this…
Payment channels networks drastically increase the throughput and hence scalability of blockchains by performing transactions \emph{off-chain}. In an off-chain payment, parties deposit coins in a channel and then perform transactions…
The Bitcoin scalability problem has led to the development of off-chain financial mechanisms such as payment channel networks (PCNs) which help users process transactions of varying amounts, including micro-payment transactions, without…
Off-chain transaction networks can mitigate the scalability issues of today's trustless electronic cash systems such as Bitcoin. However, these peer-to-peer networks also introduce a new attack surface which is not well-understood today.…
Payment channels allow transactions between participants of the blockchain to be executed securely off-chain, and thus provide a promising solution for the scalability problem of popular blockchains. We study the online network design…
A payment channel network is a blockchain-based overlay mechanism that allows parties to transact more efficiently than directly using the blockchain. These networks are composed of payment channels that carry transactions between pairs of…
Monitoring the traffic volumes of elephant flows, including the total byte count per flow, is a fundamental capability for online network measurements. We present an asymptotically optimal algorithm for solving this problem in terms of both…
Blockchain technology has revolutionized the way transactions are executed, but scalability remains a major challenge. Payment Channel Network (PCN), as a Layer-2 scaling solution, has been proposed to address this issue. However, skewed…
Payment channels are the most prominent solution to the blockchain scalability problem. We introduce the problem of network design with fees for payment channels from the perspective of a Payment Service Provider (PSP). Given a set of…