Related papers: Online Payment Network Design
While blockchains initially gained popularity in the realm of cryptocurrencies, their widespread adoption is expanding beyond conventional applications, driven by the imperative need for enhanced data security. Despite providing a secure…
The Bitcoin Lightning Network is a Layer 2 payment protocol that addresses Bitcoin's scalability by facilitating quick and cost effective transactions through payment channels. This research explores the feasibility of using machine…
We consider blockchain in dynamic networks. We define the Blockchain Decision Problem. It requires miners that maintain the blockchain to confirm whether a particular block is accepted. We establish the necessary conditions for the…
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…
Although blockchain, the supporting technology of various cryptocurrencies, has offered a potentially effective framework for numerous decentralized trust management systems, its performance is still sub-optimal in real-world networks. With…
In cryptocurrencies, transaction fees are typically exclusively paid in the native platform currency. This restriction causes a wide range of challenges, such as deteriorated user experience, mandatory rent payments by decentralized…
For the enactment of inter-organizational business processes, blockchain can guarantee the enforcement of process models and the integrity of execution traces. However, existing solutions come with downsides regarding throughput…
Network design, a cornerstone of mathematical optimization, is about defining the main characteristics of a network satisfying requirements on connectivity, capacity, and level-of-service. It finds applications in logistics and…
Today, payment paths in Bitcoin's Lightning Network are found by searching for shortest paths on the fee graph. We enhance this approach in two dimensions. Firstly, we take into account the probability of a payment actually being possible…
Bitcoin, Ethereum and other blockchain-based cryptocurrencies, as deployed today, cannot scale for wide-spread use. A leading approach for cryptocurrency scaling is a smart contract mechanism called a payment channel which enables two…
Cryptocurrencies such as Bitcoin are realized using distributed systems and hence critically rely on the performance and security of the interconnecting network. The requirements on these networks and their usage, however can differ…
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…
Public blockchains inherently offer low throughput and high latency, motivating off-chain scalability solutions such as Payment Channel Networks (PCNs). However, existing PCNs suffer from liquidity fragmentation-funds locked in one channel…
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…
Supply chain applications operate in a multi-stakeholder setting, demanding trust, provenance, and transparency. Blockchain technology provides mechanisms to establish a decentralized infrastructure involving multiple stakeholders. Such…
We present a scalable architecture for electronic retail payments via central bank digital currency and offer a solution to the perceived conflict between robust regulatory oversight and consumer affordances such as privacy and control. Our…
Transaction fee mechanism design is a new decentralized mechanism design problem where users bid for space on the blockchain. Several recent works showed that the transaction fee mechanism design fundamentally departs from classical…
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…
Public blockchain systems offer security guarantees that cannot be matched by any centralised system. This offering has attracted a lot of interest and has exposed a significant limitation of most blockchain designs with regards to…
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…