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Payment channel networks, and the Lightning Network in particular, seem to offer a solution to the lack of scalability and privacy offered by Bitcoin and other blockchain-based cryptocurrencies. Previous research has focused on the…
The Lightning Network is a so-called second-layer technology built on top of the Bitcoin blockchain to provide "off-chain" fast payment channels between users, which means that not all transactions are settled and stored on the main…
Bitcoin is undoubtedly a great alternative to today's existing digital payment systems. Even though Bitcoin's scalability has been debated for a long time, we see that it is no longer a concern thanks to its layer-2 solution Lightning…
In this work we use formal verification to prove that the Lightning Network (LN), the most prominent scaling technique for Bitcoin, always safeguards the funds of honest users. We provide a custom implementation of (a simplification of) LN,…
The Lightning Network (LN) has enjoyed rapid growth over recent years, and has become the most popular scaling solution for the Bitcoin blockchain. The security of the LN relies on the ability of the nodes to close a channel by settling…
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…
The ambition of the Lightning Network is to provide a second layer to the Bitcoin network to enable transactions confirmed instantly, securely and anonymously with a world scale capacity using a decentralized protocol. Some of the current…
Payment channel networks are an approach to improve the scalability of blockchain-based cryptocurrencies. The Lightning Network is a payment channel network built for Bitcoin that is already used in practice. Because the Lightning Network…
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…
The Lightning Network (LN) has emerged as a second-layer solution to Bitcoin's scalability challenges. The rise of Payment Channel Networks (PCNs) and their specific mechanisms incentivize individuals to join the network for profit-making…
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…
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…
Bitcoin mining presents a significant economic incentive for efficient hashing and broadcast of data, both parameters stemming from the Proofs of Work used to advance the network. This incentive has led to the development of Bitcoin…
Cryptocurrency off-chain networks such as Lightning (e.g., Bitcoin) or Raiden (e.g., Ethereum) aim to increase the scalability of traditional on-chain transactions. To support nodes in learning about possible paths to route their…
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…
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…
Lightning Network (LN) addresses the scalability problem of Bitcoin by leveraging off-chain transactions. Nevertheless, it is not possible to run LN on resource-constrained IoT devices due to its storage, memory, and processing…
Payment channel networks (PCNs) are a promising technology that alleviates blockchain scalability by shifting the transaction load from the blockchain to the PCN. Nevertheless, the network topology has to be carefully designed to maximise…
Blockchain systems often rely on rationality assumptions for their security, expecting that nodes are motivated to maximize their profits. These systems thus design their protocols to incentivize nodes to execute the honest protocol but…
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…