Related papers: Payment-failure times for random Lightning paths
The functioning of the cryptocurrency Bitcoin relies on the open availability of the entire history of its transactions. This makes it a particularly interesting socio-economic system to analyse from the point of view of network science.…
In the field of computer science, the network reliability problem for evaluating the network failure probability has been extensively investigated. For a given undirected graph $G$, the network failure probability is the probability that…
The Fixed-Charge Network Flow problem is a well-studied NP-hard problem that has the goal of finding a flow in a network where fixed edge costs are incurred, regardless of the amount of flow hosted by the edge. In this paper, we consider…
Distributed ledger technologies have opened up a wealth of fine-grained transaction data from cryptocurrencies like Bitcoin and Ethereum. This allows research into problems like anomaly detection, anti-money laundering, pattern mining and…
We introduce a model of a controlled random graph process. In this model, the edges of the complete graph $K_n$ are ordered randomly and then revealed, one by one, to a player called Builder. He must decide, immediately and irrevocably,…
In this letter, we analytically describe the typical solution time needed by a backtracking algorithm to solve the vertex-cover problem on finite-connectivity random graphs. We find two different transitions: The first one is…
Bitcoin's success as a cryptocurrency enabled it to penetrate into many daily life transactions. Its problems regarding the transaction fees and long validation times are addressed through an innovative concept called the Lightning Network…
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…
We study numerically the cascading failure problem by using artificially created scale-free networks and the real network structure of the power grid. The capacity for a vertex is assigned as a monotonically increasing function of the load…
Lightning Network (LN) is a widely-used network of payment channels enabling faster and cheaper Bitcoin transactions. In this paper, we outline three ways an attacker can steal funds from honest LN users. The attacks require dilating the…
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…
We study a simple random process in which vertices of a connected graph reach consensus through pairwise interactions. We compute outcome probabilities, which do not depend on the graph structure, and consider the expected time until a…
Bitcoin uses blockchain technology to maintain transactions order and provides probabilistic guarantee to prevent double-spending, assuming that an attacker's computational power does not exceed %50 of the network power. In this paper, we…
Hashed Timelock Contract (HTLC) in Lightning Network is susceptible to a griefing attack. An attacker can block several channels and stall payments by mounting this attack. A state-of-the-art countermeasure, Hashed Timelock Contract with…
Leveraging a validated set of reconstructed Lightning Network topology snapshots spanning five years (2019-2023), we computed 47 computationally intensive metrics and network attributes, enabling a comprehensive analysis of the network's…
Bitcoin derives a verifiable temporal order from probabilistic block discovery and cumulative proof-of-work rather than from a trusted global clock. We show that block arrivals exhibit stable exponential behavior across difficulty epochs,…
Bitcoin is by far the most popular crypto-currency solution enabling peer-to-peer payments. Despite some studies highlighting the network does not provide full anonymity, it is still being heavily used for a wide variety of dubious…
In multi-path routing schemes for payment-channel networks, Alice transfers funds to Bob by splitting them into partial payments and routing them along multiple paths. Undisclosed channel balances and mismatched transaction fees cause…
Blockchain enables peer-to-peer transactions in cyberspace without a trusted third party. The rapid growth of Ethereum and smart contract blockchains generally calls for well-designed Transaction Fee Mechanisms (TFMs) to allocate limited…
We revisit the fundamental question of Bitcoin's security against double spending attacks. While previous work has bounded the probability that a transaction is reversed, we show that no such guarantee can be effectively given if the…