Related papers: Self-Balancing Semi-Hierarchical PCNs for CBDCs
While being decentralized, secure, and reliable, Bitcoin and many other blockchain-based cryptocurrencies suffer from scalability issues. One of the promising proposals to address this problem is off-chain payment channels. Since, not all…
Scaling blockchain efficiency is crucial to its widespread usage in which the payment channel is one of the most prominent approaches. With payment channels and the network they construct, two users can move some transactions off-chain in a…
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 is a peer-to-peer network designed to address Bitcoin's scalability challenges, facilitating rapid, cost-effective, and instantaneous transactions through bidirectional, blockchain-backed payment channels among network…
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 increasingly complex economic and financial environment in which we live makes the management of liquidity in payment systems and the economy in general a persistent challenge. New technologies are making it possible to address this…
In this paper, we construct a decentralized clearing mechanism which endogenously and automatically provides a claims resolution procedure. This mechanism can be used to clear a network of obligations through blockchain. In particular, we…
In this paper, we propose a technique for rebalancing link weights in decentralized credit networks. Credit networks are peer-to-peer trust-based networks that enable fast and inexpensive cross-currency transactions compared to traditional…
Central Bank Digital Currencies (CBDCs) are proposed as a public response to the uptake of privately run digital payments, with the digital euro, under development by the European Central Bank (ECB), serving as a prominent example. This…
Permissionless blockchains protocols such as Bitcoin are inherently limited in transaction throughput and latency. Current efforts to address this key issue focus on off-chain payment channels that can be combined in a Payment-Channel…
We develop a model of coordination and allocation of decentralized multi-sided markets, in which our theoretical analysis is promisingly optimizing the decentralized transaction packaging process at high-throughput blockchains or Web 3.0…
Blockchain is a merging technology for decentralized management and data security, which was first introduced as the core technology of cryptocurrency, e.g., Bitcoin. Since the first success in financial sector, blockchain has shown great…
Content-Centric Networking (CCN) is a new class of network architectures designed to address some key limitations of the current IP-based Internet. One of its main features is in-network content caching, which allows requests for content to…
As global governments intensify efforts to operationalize retail central bank digital currencies (CBDCs), the imperative for architectures that preserve user privacy has never been more pronounced. This paper advances an existing retail…
Securing the traceability of products in the supply chain is an urgent issue. Recently, supply chain systems that use public blockchain (PBC) have been proposed. In these systems, PBC is used as a common database shared between supply chain…
The state-of-the-art approach to manage blockchains is to process blocks of transactions in a shared-nothing environment. Although blockchains have the potential to provide various services for high-performance computing (HPC) systems, HPC…
Digital payments traditionally rely on online communications with several intermediaries such as banks, payment networks, and payment processors in order to authorize and process payment transactions. While these communication networks are…
To improve transaction rates, many cryptocurrencies have implemented so-called ''Layer-2'' transaction protocols, where payments are routed across networks of private payment channels. However, for a given transaction, not every network…
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…
Payment channel networks provide a fast and scalable solution to relay funds, acting as a second layer to slower and less scalable blockchain protocols. In this paper, we present an accessible, low-cost attack in which the attacker…