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Payment channel networks (PCNs) enhance the scalability of blockchains by allowing parties to conduct transactions off-chain, i.e, without broadcasting every transaction to all blockchain participants. To conduct transactions, a sender and…
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…
Data sharing is very important for accelerating scientific research, business innovations, and for informing individuals. Yet, concerns over data privacy, cost, and lack of secure data-sharing solutions have prevented data owners from…
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…
We present an example where a distributed coordinated protocol supported by a blockchain-enabled monetary mechanism leads to achieving optimal information theoretic degrees of freedom gains. The considered setting is that of a linear…
Blockchain networks are facing increasingly heterogeneous computational demands, and in response, protocol designers have started building specialized infrastructure to supply that demand. This paper introduces Resonance: a new kind of…
This paper presents a layer-2 micropayment pool design which supports high-throughput blockchain off-chain payment, designed specifically for the use case of rewarding users who share redundant bandwidth to assist video stream delivery. We…
Blockchain and blockchain-inspired decentralized applications are on the rise thanks to their unique characteristics such as their decentralized nature, anonymity, and tamper-proof nature; however, blockchain transactions tend to experience…
To mitigate the scalability problem of decentralized cryptocurrencies such as Bitcoin and Ethereum, the payment channel, which allows two parties to perform secure coin transfers without involving the blockchain, has been proposed. The…
Mechanisms for decentralized finance on blockchains suffer from various problems, including suboptimal price execution for users, latency, and a worse user experience compared to their centralized counterparts. Recently, off-chain…
Blockchain is a technology that provides a distributed ledger that stores previous records while maintaining consistency and security. Bitcoin is the first and largest decentralized electronic cryptographic system that uses blockchain…
Payment channels were introduced to solve various eminent cryptocurrency scalability issues. Multiple payment channels build a network on top of a blockchain, the so-called layer 2. In this work, we analyze payment networks through the lens…
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…
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…
The Bitcoin Lightning Network, launched in 2018, serves as a layer 2 scaling solution for Bitcoin. The Lightning Network allows users to establish channels between each other and subsequently exchange off-chain payments. Together, these…
This paper investigates how pricing schemes can achieve efficient allocations in blockchain systems featuring multiple transaction queues under a global capacity constraint. I model a capacity-constrained blockchain where users submit…
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…
Credit networks rely on decentralized, pairwise trust relationships (channels) to exchange money or goods. Credit networks arise naturally in many financial systems, including the recent construct of payment channel networks in blockchain…
Mobile payment such as Alipay has been widely used in our daily lives. To further promote the mobile payment activities, it is important to run marketing campaigns under a limited budget by providing incentives such as coupons, commissions…
In permissionless blockchains, transaction issuers include a fee to incentivize miners to include their transactions. To accurately estimate this prioritization fee for a transaction, transaction issuers (or blockchain participants, more…