Related papers: Discharged Payment Channels: Quantifying the Light…
Payment channel networks (PCNs) such as the Lightning Network offer an appealing solution to the scalability problem faced by many cryptocurrencies operating on a blockchain such as Bitcoin. However, PCNs also inherit the stringent…
Bitcoin's Lightning Network (LN) is a scalability solution for Bitcoin allowing transactions to be issued with negligible fees and settled instantly at scale. In order to use LN, funds need to be locked in payment channels on the Bitcoin…
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 Lightning Network (LN) is a prominent payment channel network aimed at addressing Bitcoin's scalability issues. Due to the privacy of channel balances, senders cannot reliably choose sufficiently liquid payment paths and resort to a…
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 Lightning Network promises to alleviate Bitcoin's known scalability problems. The operation of such second layer approaches relies on the ability of participants to turn to the blockchain to claim funds at any time, which is assumed to…
Payment channel networks, and the Lightning Network in particular, seem to offer a solution to the lack of scalability and privacy offered by Bitcoin and other blockchain-based cryptocurrencies. Previous research has focused on the…
Payment channel networks, such as Bitcoin's Lightning Network, promise to improve the scalability of blockchain systems by processing the majority of transactions off-chain. Due to the design, the positioning of nodes in the network…
Payment channel networks (PCNs) are a promising technology that alleviates blockchain scalability by shifting the transaction load from the blockchain to the PCN. Nevertheless, the network topology has to be carefully designed to maximise…
Payment channel networks (PCNs) are a promising solution to the scalability problem of cryptocurrencies. Any two users connected by a payment channel in the network can theoretically send an unbounded number of instant, costless…
The Lightning Network is a scaling solution for Bitcoin that promises to enable rapid and private payment processing. In Lightning, multi-hop payments are secured by utilizing Hashed Time-Locked Contracts (HTLCs) and encrypted on the…
The Lightning Network, a payment channel network with a market cap of over 192M USD, is designed to resolve Bitcoin's scalability issues through fast off-chain transactions. There are multiple Lightning Network client implementations, all…
Payment channel networks like Bitcoin's Lightning network are an auspicious approach for realizing high transaction throughput and almost-instant confirmations in blockchain networks. However, the ability to successfully make payments in…
It is now a whole year since Lightning Network (LN) has been launched on the Bitcoi's mainnet. LN has been claimed as the solution for several of Bitcoin's weaknesses such as its difficulty to scale in number of transactions per second and…
The Lightning Network (LN) has enjoyed rapid growth over recent years, and has become the most popular scaling solution for the Bitcoin blockchain. The security of the LN relies on the ability of the nodes to close a channel by settling…
The Bitcoin Lightning network is a mechanism to enable fast and inexpensive off-chain Bitcoin transactions using peer-to-peer (P2P) channels between nodes that can also be composed into a routing path. Although the resulting possible…
This paper presents a formal analysis of the Lightning Network as a monetary system structurally diverging from Bitcoin's base-layer settlement model. We demonstrate that under increasing transaction demand, BTC transaction fees rise…
The Lightning Network, known for its millisecond settlement speeds and low transaction fees, offers a compelling alternative to traditional payment processors, which often have higher fees and longer processing times. This is particularly…
Leveraging a validated set of reconstructed Lightning Network topology snapshots spanning five years (2019-2023), we computed 47 computationally intensive metrics and network attributes, enabling a comprehensive analysis of the network's…
Payment Channel Networks (PCNs) are a method for improving the scaling and latency of cryptocurrency transactions. For a payment to be made between two peers in a PCN, a feasible low-fee path in the network must be planned. Many PCN path…