Related papers: Pricing for Routing and Flow-Control in Payment Ch…
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…
Digital payments play a pivotal role in the burgeoning digital economy. Moving forward, the enhancement of digital payment systems necessitates programmability, going beyond just efficiency and convenience, to meet the evolving needs and…
Resource-constrained devices are unable to maintain a full copy of the Bitcoin Blockchain in memory. This paper proposes a bidirectional payment channel framework for IoT devices. This framework utilizes Bitcoin Lightning-Network-like…
The Bitcoin Lightning Network is a layer 2 protocol designed to facilitate fast and inexpensive Bitcoin transactions. It operates by establishing channels between users, where Bitcoin is locked and transactions are conducted off-chain until…
Blockchain offers a decentralized, immutable, transparent system of records. It offers a peer-to-peer network of nodes with no centralised governing entity making it unhackable and therefore, more secure than the traditional paper-based or…
The development of blockchain technologies has enabled the trustless execution of so-called smart contracts, i.e. programs that regulate the exchange of assets (e.g., cryptocurrency) between users. In a decentralized blockchain, the state…
In peer-to-peer (P2P) energy trading, a secured infrastructure is required to manage trade and record monetary transactions. A central server/authority can be used for this. But there is a risk of central authority influencing the energy…
Blockchains such as Bitcoin and Ethereum execute payment transactions securely, but their performance is limited by the need for global consensus. Payment networks overcome this limitation through off-chain transactions. Instead of writing…
For more than a century, the grid has operated in a centralized top-down fashion. However, as distributed energy resources (DERs) penetration grows, the grid edge is increasingly infused with intelligent computing and communication…
Most current blockchains require all full nodes to execute all tasks limits the throughput of existing blockchains, which are well documented and among the most significant hurdles for the widespread adoption of decentralized technology.…
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 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…
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…
As a promising implementation model of payment channel network (PCN), payment channel hub (PCH) could achieve high throughput by providing stable off-chain transactions through powerful hubs. However, existing PCH schemes assume hubs…
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…
There are a multitude of Blockchain-based physical infrastructure systems, operating on a crypto-currency enabled token economy, where infrastructure suppliers are rewarded with tokens for enabling, validating, managing and/or securing the…
Credit networks represent a way of modeling trust between entities in a network. Nodes in the network print their own currency and trust each other for a certain amount of each other's currency. This allows the network to serve as a…
Credit networks rely on decentralized, pairwise trust relationships (channels) to exchange money or goods. Credit networks arise naturally in many financial systems, including the recent construct of payment channel networks in blockchain…
Payment channel networks (PCNs) are a layer-2 blockchain scalability solution, with its main entity, the payment channel, enabling transactions between pairs of nodes "off-chain," thus reducing the burden on the layer-1 network. Nodes with…
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…