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Payment channels effectively move the transaction load off-chain thereby successfully addressing the inherent scalability problem most cryptocurrencies face. A major drawback of payment channels is the need to ``top up'' funds on-chain when…
Cryptocurrencies such as Bitcoin and Ethereum have made payment transactions possible without a trusted third party, but they have a scalability issue due to their consensus mechanisms. Payment networks have emerged to overcome this…
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…
In the Bitcoin system, transaction fees serve as an incentive for blockchain confirmations. In general, a transaction with a higher fee is likely to be included in the next block mined, whereas a transaction with a smaller fee or no fee may…
Blockchain has many benefits including decentralization, availability, persistency, consistency, anonymity, auditability and accountability, and it also covers a wide spectrum of applications ranging from cryptocurrency, financial services,…
Blockchain is a technology that provides a distributed ledger that stores previous records while maintaining consistency and security. Bitcoin is the first and largest decentralized electronic cryptographic system that uses blockchain…
Blockchain technology, with implications in the financial domain, offers data in the form of large-scale transaction networks. Analyzing transaction networks facilitates fraud detection, market analysis, and supports government regulation.…
Blockchain and blockchain-inspired decentralized applications are on the rise thanks to their unique characteristics such as their decentralized nature, anonymity, and tamper-proof nature; however, blockchain transactions tend to experience…
Payment channel networks (PCNs) enhance the scalability of blockchains by allowing parties to conduct transactions off-chain, i.e, without broadcasting every transaction to all blockchain participants. To conduct transactions, a sender and…
In the current era of digitization, online payment systems are attracting considerable interest. Improving the efficiency of a payment system is important since it has a substantial impact on revenues for businesses. A gateway is an…
Today, payment paths in Bitcoin's Lightning Network are found by searching for shortest paths on the fee graph. We enhance this approach in two dimensions. Firstly, we take into account the probability of a payment actually being possible…
Many blockchain platform are subject to maximal value extraction (MEV), and users on the platform are losing money while sending transactions because the transaction order can be manipulated to extract value from them. Consensus protocols…
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 Bitcoin Lightning Network (LN) is designed to improve the scalability of blockchain systems by using off-chain payment paths to settle transactions in a faster, cheaper, and more private manner. This work aims to empirically study LN's…
In this paper, we develop a more general framework of block-structured Markov processes in the queueing study of blockchain systems, which can provide analysis both for the stationary performance measures and for the sojourn times of any…
Sharding has shown great potential to scale out blockchains. It divides nodes into smaller groups which allow for partial transaction processing, relaying and storage. Hence, instead of running one blockchain, we will run multiple…
We investigate computational and mechanism design aspects of scarce resource allocation, where the primary rationing mechanism is through waiting times. Specifically we consider allocating medical treatments to a population of patients.…
Unlike classical routing algorithms, quantum routing algorithms make use of entangled states - a type of resources that have a limited lifetime and need to be regenerated after consumption. In a nutshell, quantum routing algorithms have to…
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…
In IPTV networks, channel change latency is considered as a major obstacle in achieving broadcast-level quality video delivery. Because of the bandwidth limitations observed at the client side, users typically have access to a limited…