Related papers: Building Stable Off-chain Payment Networks
Bitcoin is the first and the most extensive decentralized electronic cryptocurrency system that uses blockchain technology. It uses a peer-to-peer (P2P) network to operate without a central authority and propagate system information such as…
Blockchain technology, while revolutionary in enabling decentralized transactions, faces scalability challenges as the ledger must be replicated across all nodes of the chain, limiting throughput and efficiency. Sharding, which divides the…
Payment channel hub (PCH), by leveraging a powerful hub to reliably provide off-chain payment services, offers an effective enhancement to payment channel networks (PCNs). However, existing approaches typically rely on a single hub to relay…
As the significance of blockchain innovation grows and the focus on scalability intensifies, rollup technology has emerged as a promising approach to tackle these scalability concerns. Nonetheless, rollups encounter restrictions when…
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 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…
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…
To alleviate difficulties in writing smart contracts for distributed blockchain applications, as other research, we propose transformation of Business Process Model and Notation (BPMN) models into blockchain smart contracts. Unlike other…
Blockchain is a core technology to manage the value of cryptocurrencies, or to record trails of important business trades. The Smart Contract on blockchain is expected to improve security on blockchain system with automated operation, but…
An algorithmic stablecoin is a type of cryptocurrency managed by algorithms (i.e., smart contracts) to dynamically minimize the volatility of its price relative to a specific form of asset, e.g., US dollar. As algorithmic stablecoins have…
Path-based transaction (PBT) networks, which settle payments from one user to another via a path of intermediaries, are a growing area of research. They overcome the scalability and privacy issues in cryptocurrencies like Bitcoin and…
Smart contracts are programs stored on a blockchain that run when predetermined conditions are met. However, designing and implementing a smart contract is not trivial since upon deployment on a blockchain, it is no longer possible to…
We introduce a family of PCNs (Payment Channel Networks) characterized by a semi-hierarchical topology and a custom set of channel rebalancing strategies. This family exhibits two interesting benefits, if used as a platform for large-scale,…
In this review, we evaluate the mechanisms behind the decentralized finance protocols for generating stable, passive income. Currently, such savings interest rates can be as high as 20% annually, payable in traditional currency values such…
In the context of decentralized blockchains, accurately simulating the outcome of order flow auctions (OFAs) off-chain is challenging due to adversarial sequencing, encrypted bids, and frequent state changes. Existing approaches, such as…
Bitcoin blockchain faces the bitcoin scalability problem, for which bitcoin's blocks contain the transactions on the bitcoin network. The on-chain transaction processing capacity of the bitcoin network is limited by the average block…
Smart contracts are stateful programs deployed on blockchains; they secure over a trillion dollars in transaction value per year. High-stakes smart contracts often rely on timely alerts about external events, but prior work has not analyzed…
Permissionless blockchain consensus protocols have been designed primarily for defining decentralized economies for the commercial trade of assets, both virtual and physical, using cryptocurrencies. In most instances, the assets being…
The Bitcoin Lightning Network is a layer 2 protocol designed to facilitate fast and inexpensive Bitcoin transactions. It operates by establishing channels between users, where Bitcoin is locked and transactions are conducted off-chain until…
State channel network is the most popular layer-2 solution to theissues of scalability, high transaction fees, and low transaction throughput of public Blockchain networks. However, the existing works have limitations that curb the wide…