Related papers: Lightning Creation Games
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…
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…
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…
Making a payment in a privacy-aware payment channel network is achieved by trying several payment paths until one succeeds. With a large network, such as the Lightning Network, a completion of a single payment can take up to several…
Network Creation Games(NCGs) model the creation of decentralized communication networks like the Internet. In such games strategic agents corresponding to network nodes selfishly decide with whom to connect to optimize some objective…
As Lightning network payments are neither broadcasted nor publicly stored. Thus LN has been seen not only as scalability but also as privacy solution for Bitcoin. The protocol guarantees that only the latest channel state can be confirmed…
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…
Payment channel networks (PCNs) have been designed and utilized to address the scalability challenge and throughput limitation of blockchains. Routing is a core problem of PCNs. An ideal PCN routing method needs to achieve 1) high…
Q&A websites rely on user-generated responses, with incentives such as reputation scores or monetary rewards often offered. While some users may find it intrinsically rewarding to assist others, studies indicate that payment can improve 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…
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…
Blockchain-based cryptocurrencies secure a decentralized consensus protocol by incentives. The protocol participants, called miners, generate (mine) a series of blocks, each containing monetary transactions created by system users. As…
Payment channels effectively move the transaction load off-chain thereby successfully addressing the inherent scalability problem most cryptocurrencies face. A major drawback of payment channels is the need to ``top up'' funds on-chain when…
In Social Networks, it is often interesting to study type of networks formed, its efficiency with respect to social objective and which networks are stable. Many work have already been there in this area. Players in network formation game…
Payment channel networks (PCN) are used in cryptocurrencies to enhance the performance and scalability of off-chain transactions. Except for opening and closing of a payment channel, no other transaction requests accepted by a PCN are…
Transaction fees represent a major incentive in many blockchain systems as a way to incentivize processing transactions. Unfortunately, they also introduce an enormous amount of incentive asymmetry compared to alternatives like fixed block…
Payment channel networks (PCNs) are a promising solution to address blockchain scalability and throughput challenges, However, the security of PCNs and their vulnerability to attacks are not sufficiently studied. In this paper, we introduce…
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…
A payment channel network is a blockchain-based overlay mechanism that allows parties to transact more efficiently than directly using the blockchain. These networks are composed of payment channels that carry transactions between pairs of…
The Lightning Network (LN) is a second-layer protocol for Bitcoin designed to enable fast and cost-efficient off-chain transactions. Channels in the LN can be closed either by mutual agreement or unilaterally through a forced closure, which…