Related papers: Payment-failure times for random Lightning paths
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…
Cryptocurrencies such as Bitcoin are realized using distributed systems and hence critically rely on the performance and security of the interconnecting network. The requirements on these networks and their usage, however can differ…
We present and validate a novel mathematical model of the blockchain mining process and use it to conduct an economic evaluation of the double-spend attack, which is fundamental to all blockchain systems. Our analysis focuses on the value…
The present study was concerned with network failure problems for simple connected undirected graphs. A connected graph becomes unconnected through edge failure, under the assumptions that only edges can fail and each edge has an identical…
In Bitcoin system, transactions are prioritized according to transaction fees. Transactions without fees are given low priority and likely to wait for confirmation. Because the demand of micro payment in Bitcoin is expected to increase due…
In order to scale transaction rates for deployment across the global web, many cryptocurrencies have deployed so-called "Layer-2" networks of private payment channels. An idealized payment network behaves like a Credit Network, a model for…
Network reliability measures the probability that a target node is reachable from a source node in an uncertain graph, i.e., a graph where every edge is associated with a probability of existence. In this paper, we investigate the novel and…
We study the popular randomized rumour spreading protocol Push. Initially, a node in a graph possesses some information, which is then spread in a round based manner. In each round, each informed node chooses uniformly at random one of its…
Decentralized payment systems such as Bitcoin have become massively popular in the last few years, yet there is still much to be done in understanding their formal properties. The vast majority of decentralized payment systems work by…
A growing number of products use layer 2 solutions to expand the capabilities of primary blockchains like Ethereum, where computation is off-loaded from the root chain, and the results are published to it in bulk. Those include optimistic…
Cryptocurrencies are distributed systems that allow exchanges of native (and non-) tokens among participants. The complete historical bookkeeping and its wide availability opens up an unprecedented possibility, i.e. that of understanding…
Authorization is challenging in distributed systems that cannot rely on the identification of nodes. Proof-of-work offers an alternative gate-keeping mechanism, but its probabilistic nature is incompatible with conventional security…
Since its 2009 genesis block, the Bitcoin network has processed >1.08 billion (B) transactions representing >8.72B BTC, offering rich potential for machine learning (ML); yet, its pseudonymity and obscured flow of funds inherent in its…
With the development of neural networks based machine learning and their usage in mission critical applications, voices are rising against the \textit{black box} aspect of neural networks as it becomes crucial to understand their limits and…
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…
The rise of cryptocurrencies like Bitcoin, which enable transactions with a degree of pseudonymity, has led to a surge in various illicit activities, including ransomware payments and transactions on darknet markets. These illegal…
In this paper, we study the task of detecting the edge dependency between two weighted random graphs. We formulate this task as a simple hypothesis testing problem, where under the null hypothesis, the two observed graphs are statistically…
We analyze how secure a block is after the block becomes $k$-deep, i.e., security-latency, for Nakamoto consensus under an exponential network delay model. We provide the fault tolerance and extensive bounds on safety violation…
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…
Blockchain protocols are inherently limited in transaction throughput and latency. Recent efforts to address performance and scale blockchains have focused on off-chain payment channels. While such channels can achieve low latency and high…