Related papers: Mass Exit Attacks on the Lightning Network
Micropayment channels are the most prominent solution to the limitation on transaction throughput in current blockchain systems. However, in practice channels are risky because participants have to be online constantly to avoid fraud, and…
The Lightning Network (LN) is one of the most promising off-chain scaling solutions for Bitcoin, as it enables off-chain payments which are not subject to the well-known blockchain scalability limit. In this work, we introduce CLoTH, a…
We present and validate a novel mathematical model of the blockchain mining process and use it to conduct an economic evaluation of the double-spend attack, which is fundamental to all blockchain systems. Our analysis focuses on the value…
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…
Bitcoin uses blockchain technology to maintain transactions order and provides probabilistic guarantee to prevent double-spending, assuming that an attacker's computational power does not exceed %50 of the network power. In this paper, we…
The Bitcoin Lightning Network (BLN) was launched in 2018 to scale up the number of transactions between Bitcoin owners. Although several contributions concerning the analysis of the BLN binary structure have recently appeared in the…
Recently we could see several institutions coming together to create consortium based blockchain networks such as Hyperledger. Although for applications of blockchain such as Bitcoin, Litcoin, etc. the majority-attack might not be a great…
We study a random process over graphs inspired by the way payments are executed in the Lightning Network, the main layer-two solution on top of Bitcoin. We first prove almost tight upper and lower bounds on the time it takes for a payment…
With the ever-increasing popularity of blockchain applications, securing blockchain networks plays a critical role in these cyber systems. In this paper, we first study cyberattacks (e.g., flooding of transactions, brute pass) in blockchain…
Off-chain transaction channels represent one of the leading techniques to scale the transaction throughput in cryptocurrencies. However, the economic effect of transaction channels on the system has not been explored much until now. We…
Bitcoin (BTC) pseudonyms (layer 1) can effectively be deanonymized using heuristic clustering techniques. However, while performing transactions off-chain (layer 2) in the Lightning Network (LN) seems to enhance privacy, a systematic…
In this paper, we identify a new form of attack, called the Balance attack, against proof-of-work blockchain systems. The novelty of this attack consists of delaying network communications between multiple subgroups of nodes with balanced…
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…
The Bitcoin protocol prevents the occurrence of double-spending (DS), i.e. the utilization of the same currency unit more than once. At the same time a DS attack, where more conflicting transactions are generated, might be performed to…
We analyze how secure a block is after the block becomes $k$-deep, i.e., security-latency, for Nakamoto consensus under an exponential network delay model. We provide the fault tolerance and extensive bounds on safety violation…
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…
Blockchain is a growing decentralized system built for transparency and immutability. There have been several major attacks on blockchain-based systems, leaving a gap in the trustability of this system. This article presents a comprehensive…
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.…
In this brief, we conduct a complex-network analysis of the Bitcoin transaction network. In particular, we design a new sampling method, namely random walk with flying-back (RWFB), to conduct effective data sampling. We then conduct a…
Many prominent smart-contract applications such as payment channels, auctions, and voting systems often involve a mechanism in which some party must respond to a challenge or appeal some action within a fixed time limit. This pattern of…