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A Fast and Scalable Payment Network with Bitcoin Duplex Micropayment Channels [chapter]

Christian Decker, Roger Wattenhofer
2015 Lecture Notes in Computer Science  
In this work we present a protocol for duplex micropayment channels, which guarantees end-to-end security and allow instant transfers, laying the foundation of the PSP network.  ...  These channels may form a network of payment service providers (PSPs). Payments can be routed between any two users in real time, without any confirmation delay.  ...  Conclusion Duplex micropayment channels solve a multitude of problems. For one they enable near-infinite scalability for digital payments based on Bitcoin.  ... 
doi:10.1007/978-3-319-21741-3_1 fatcat:ou4d7tigwffcpneishp4et5xsu

Towards Bitcoin Payment Networks [chapter]

Patrick McCorry, Malte Möser, Siamak F. Shahandasti, Feng Hao
2016 Lecture Notes in Computer Science  
We compare Duplex Micropayment Channels and Lightning Channels, before discussing Hashed Time-Locked Contracts which enable Bitcoin-based payment networks.  ...  In this paper we focus on the latter and provide an overview of Bitcoin payment networks.  ...  Acknowledgements We thank Christian Decker, Joseph Poon and Rusty Russell for reviewing this paper. We also thank the participants of the lightning-dev mailing list for their insightful discussions.  ... 
doi:10.1007/978-3-319-40253-6_4 fatcat:6ayhhp2y2fghxkipi7yh74b5su

Scalable Funding of Bitcoin Micropayment Channel Networks [chapter]

Conrad Burchert, Christian Decker, Roger Wattenhofer
2017 Lecture Notes in Computer Science  
The Bitcoin network has scalability problems. To increase its transaction rate and speed, micropayment channel networks have been proposed, however these require to lock funds into specific channels.  ...  Moreover, the available space in the blockchain does not allow scaling to a world wide payment system. We propose a new layer that sits in between the blockchain and the payment channels.  ...  To solve both, scalability and speed, micropayment channel networks have been proposed [8, 18] .  ... 
doi:10.1007/978-3-319-69084-1_26 fatcat:6hmfbdyqqbhchakwvbdtdlfqmi

Scalable funding of Bitcoin micropayment channel networks

Conrad Burchert, Christian Decker, Roger Wattenhofer
2018 Royal Society Open Science  
The Bitcoin network has scalability problems.  ...  To increase its transaction rate and speed, micropayment channel networks have been proposed; however, these require to lock funds into specific channels.  ...  Note that an implementation might move the output script into the input and use a hash commitment to ensure its integrity and authenticity as usually done in P2SH Bitcoin transactions.  ... 
doi:10.1098/rsos.180089 pmid:30225004 pmcid:PMC6124062 fatcat:oeojpg7spvde7hhgaeuqierqre

System-Wide Security for Offline Payment Terminals [article]

Nikolay Ivanov, Qiben Yan
2021 arXiv   pre-print
We implement the VolgaPay payment system, and with thorough evaluation and security analysis, we demonstrate that VolgaPay is capable of delivering a fast, secure, and cost-efficient solution for offline  ...  We achieve significant enhancements in security, operation efficiency, and cost reduction via a combination of polynomial multi-hash chain micropayment channels and blockchain grafting for off-chain channel  ...  This work was supported in part by National Science Foundation grants CNS1950171 and CNS1949753.  ... 
arXiv:2107.08490v1 fatcat:i4q6tvcbxnawvpe6mbp42co2om

Opportunities and Risks of Blockchain Technologies (Dagstuhl Seminar 17132)

Roman Beck, Christian Becker, Juho Lindman, Matti Rossi, Marc Herbstritt
2017 Dagstuhl Reports  
Blockchain-based applications such as Bitcoin or Ethereum are emerging technologies, but a dramatic increase in industrial and academic interest in the technology is evident.  ...  We linked cryptographic economic systems to already established research streams around trust-related issues in payment systems and digital currencies, and digital asset management.  ...  Micropayment channel networks were proposed simultaneously by Poon and Dryja as the Lightning Network [6] and by Decker et al. as Duplex Micropayment Channels [3] .  ... 
doi:10.4230/dagrep.7.3.99 dblp:journals/dagstuhl-reports/BeckBLR17 fatcat:yrm7twr3bnhsppztnxg66uj27m

Fail-safe Watchtowers and Short-lived Assertions for Payment Channels [article]

Bowen Liu Singapore University of Technology and Design, Singapore, State Key Laboratory of Information Security, Institute of Information Engineering, Chinese Academy of Sciences, Beijing China, School of Cyber Security, University of Chinese Academy of Sciences, Beijing, China)
2020 arXiv   pre-print
The recent development of payment channels and their extensions (e.g., state channels) provides a promising scalability solution for blockchains which allows untrusting parties to transact off-chain and  ...  Our watchtowers can easily handle a large number of channels, are privacy-preserving, and fail-safe tolerating multiple attack vectors.  ...  ACKNOWLEDGMENTS We thank the anonymous reviewers for their valuable comments and suggestions.  ... 
arXiv:2003.06127v1 fatcat:sve6jo7ji5dndpamoamsckahay

A resilient micro-payment infrastructure: an approach based on blockchain technology

Soumaya Bel Hadj Youssef, School of Communication Engineering University of Carthage, Tunisia, Noureddine Boudriga, School of Communication Engineering University of Carthage, Tunisia
2021 Maǧallaẗ Al-Kuwayt li-l-ʿulūm  
In this paper, we present a micro-payment infrastructure based on blockchain technology that is capable of decreasing the complexity of transactions' verification, reducing losses, and protecting against  ...  The micropayment infrastructure provides different security services such as authentication, doublespending and double-selling prevention, tokens forging prevention, transaction traceability, and resilience  ...  These two channels are established between payment service providers and enable near-infinite scalability for digital payments based on Bitcoin.  ... 
doi:10.48129/kjs.v49i1.10578 fatcat:z3azpgbm7jewvowsxywgnshoby

Solutions to Scalability of Blockchain: A Survey

Qiheng Zhou, Huawei Huang, Zibin Zheng, Jing Bian
2020 IEEE Access  
However, Bitcoin encounters performance problems of low throughput and high transaction latency.  ...  Bitcoin, the first application of blockchain, achieves great success and promotes more development in this field.  ...  Besides, there are many other solutions of off-chain payment channel from academia, including Bitcoin Duplex Micropayment Channels [26] , Sprites [28] , AMHLs [102] .  ... 
doi:10.1109/access.2020.2967218 fatcat:xo2ys75jnfaerhlcirjybsbxai

CLoTH: a Simulator for HTLC Payment Networks [article]

Marco Conoscenti, Antonio Vetrò, Juan Carlos De Martin, Federico Spini, Fabio Castaldo, Sebastiano Scròfina
2018 arXiv   pre-print
The Lightning Network (LN) is one of the most promising off-chain scaling solutions for Bitcoin, as it enables off-chain payments which are not subject to the well-known blockchain scalability limit.  ...  In this work, we introduce CLoTH, a simulator for HTLC payment networks, of which LN is the best working example.  ...  The simulator takes as input: (i) parameters representing the HTLC network to be studied (e.g., peers, channels, and channel capacities); and (ii) parameters defining characteristics of the payments to  ... 
arXiv:1812.09940v1 fatcat:w7sqfscpczahvdvrs75h7tvlt4

The Challenges of Existence, Status, and Value for Improving Blockchain

Fei Lin, Minqian Qiang
2019 IEEE Access  
In this paper, we review the latest progress and possibilities in improved blockchain with respect to openness, data security, and scalability.  ...  An improved blockchain provides a democratic virtual economic system (DVES) that can verify payments, reach consensus, and store encrypted data in virtual economic systems.  ...  A public chain was designed to avoid side-chain micropayments on Bitcoin to avoid affecting the ecosystem and support full-duplex channels, reaching 2480 TPS [77] .  ... 
doi:10.1109/access.2018.2888697 fatcat:wd6fwoejnvfsfamdzthpf2hi44

Towards an economic analysis of routing in payment channel networks

Felix Engelmann, Henning Kopp, Frank Kargl, Florian Glaser, Christof Weinhardt
2017 Proceedings of the 1st Workshop on Scalable and Resilient Infrastructures for Distributed Ledgers - SERIAL '17  
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  ...  Additionally, our simulation assesses the long-term evolution of a payment channel network.  ...  Acknowledgments This work was partially funded by the Baden-Württemberg Stiftung and the Federal Ministry of Economic Affairs and Energy on the basis of a decision by the German Bundestag.  ... 
doi:10.1145/3152824.3152826 dblp:conf/middleware/EngelmannKKGW17 fatcat:u4fxzpi72rhenpdttkfg6apc3a

Effective Scaling of Blockchain Beyond Consensus Innovations and Moore's Law [article]

Yinqiu Liu, Kai Qian, Jianli Chen, Kun Wang, Lei He
2020 arXiv   pre-print
This makes blockchain suffer from insufficient performance and poor scalability.  ...  However, a long-standing bottleneck hindering its further development is the massive resource consumption attributed to the distributed storage and computation methods.  ...  The well-known Bitcoin Lightning network [64] and duplex micropayment channel [65] first explored off-chain to overcome the scalability bottleneck. Furthermore, Dziembowski et al.  ... 
arXiv:2001.01865v2 fatcat:yhjx2yxtdnaapgj7xleuyqjeri

Concurrency and Privacy with Payment-Channel Networks [article]

Giulio Malavolta and Pedro Moreno-Sanchez and Aniket Kate and Matteo Maffei and Srivatsan Ravi
2019 arXiv   pre-print
Current efforts to address this key issue focus on off-chain payment channels that can be combined in a Payment-Channel Network (PCN) to enable an unlimited number of payments without requiring to access  ...  At the core of Fulgor and Rayo is Multi-Hop HTLC, a new smart contract, compatible with the Bitcoin scripting system, that provides conditional payments while reducing running time and communication overhead  ...  This work is partially supported by a Intel/CE-RIAS research assistantship, and by the National Science Foundation under grant CNS-1719196.  ... 
arXiv:1911.09148v1 fatcat:2zx2isqfp5hevcnxatjsjidiji

The CLoTH Simulator for HTLC Payment Networks with Introductory Lightning Network Performance Results

Marco Conoscenti, Antonio Vetrò, Juan De Martin, Federico Spini
2018 Information  
The Lightning Network (LN) is one of the most promising off-chain scaling solutions for Bitcoin, as it enables off-chain payments which are not subject to the well-known blockchain scalability limit.  ...  We conducted simulations on a recent snapshot of the HTLC payment network of LN.  ...  The present research work focused on the Lightning Network, the mainstream proposal that aims to address the well-known scalability problem of the Bitcoin blockchain.  ... 
doi:10.3390/info9090223 fatcat:tawncsoqczcgnopowpz6xmeds4
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