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Offchain networks provide a promising solution to overcome the scalability challenges of cryptocurrencies. However, design tradeoffs of offchain networks are still not well-understood today. In particular, offchain networks typically rely…
Payment Channel Networks (PCNs) have been proposed as an alternative solution to the scalability, throughput, and cost overhead problems associated with blockchain transactions. By facilitating offchain execution of transactions, PCNs…
Payment channels allow transactions between participants of the blockchain to be executed securely off-chain, and thus provide a promising solution for the scalability problem of popular blockchains. We study the online network design…
Payment channel is a class of techniques designed to solve the scalability problem of blockchain. By establishing channels off the blockchain to form payment channel networks (PCNs), users can make instant payments without interacting with…
We propose a decentralized routing algorithm that can be implemented in Bitcoin Lightning Network. All nodes in the network contribute equally to path searching. The algorithm is inspired from ant path searching algorithms.
As an append-only distributed database, blockchain is utilized in a vast variety of applications including the cryptocurrency and Internet-of-Things (IoT). The existing blockchain solutions have downsides in communication and storage…
Payment channel networks are supposed to overcome technical scalability limitations of blockchain infrastructure by employing a special overlay network with fast payment confirmation and only sporadic settlement of netted transactions on…
Most permissionless blockchain networks run on peer-to-peer (P2P) networks, which offer flexibility and decentralization at the expense of performance (e.g., network latency). Historically, this tradeoff has not been a bottleneck for most…
In PCNs, nodes that forward payments between a source and a receiver are paid a small fee if the payment is successful. The fee is a compensation for temporarily committing funds to the payment. However, payments may fail due to…
The last decade has experienced a vast interest in Blockchain-based cryptocurrencies with a specific focus on the applications of this technology. However, slow confirmation times of transactions and unforeseeable high fees hamper their…
Offchain networks emerge as a promising solution to address the scalability challenge of blockchain. Participants directly make payments through a network of payment channels without the overhead of committing onchain transactions. Routing…
The fundamental building blocks of the Bitcoin lightning network are bidirectional payment channels. We describe an extension of payment channels in the Proofgold network which allow the two parties to bet on whether a proposition will be…
Payment channel networks (PCNs) have emerged as a scalability solution for blockchains built on the concept of a payment channel: a setting that allows two nodes to safely transact between themselves in high frequencies based on…
Payment channel networks (PCN) enable scalable blockchain transactions without fundamentally changing the underlying distributed ledger algorithm. However, routing a payment via multiple channels in a PCN requires locking collateral for…
The Bitcoin scalability problem has led to the development of off-chain financial mechanisms such as payment channel networks (PCNs) which help users process transactions of varying amounts, including micro-payment transactions, without…
Lightning Network can execute unlimited number of off-chain payments, without incurring the cost of recording each of them in the blockchain. However, conditional payments in such networks is susceptible to Griefing Attack. In this attack,…
Payment channel is a protocol which allows cryptocurrency users to route multiple transactions through network without committing them to the main blockchain network (mainnet). This ability makes them the most prominent solution to…
Payment channel networks (PCNs) are viewed as one of the most promising scalability solutions for cryptocurrencies today. Roughly, PCNs are networks where each node represents a user and each directed, weighted edge represents funds…
Blockchain-based cryptocurrencies received a lot of attention recently for their applications in many domains. IoT domain is one of such applications, which can utilize cryptocur-rencies for micro payments without compromising their payment…
Blockchain is based on a P2P network, supporting decentralized consensus of current cryptocurrencies. Since bitcoin and altcoins all utilize an underlying blockchain, they are therefore greatly affected by the performance of the P2P…