Routing Payments on the Lightning Network

Stasi, Giovanni Di; Avallone, Stefano; Canonico, Roberto; Ventre, Giorgio

doi:10.1109/cybermatics_2018.2018.00209

Cited by 42 publications

(26 citation statements)

References 2 publications

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“…While Blockchain contracts may operate offchain [179] and then be published on a public or private chain, the need for a more robust and efficient internet connection is evident [180]. In this sense, we highlight how the concept of Vehicle-to-Everything (V2X) intersects with 5G evolution as a core component of cities' communication [181,182].…”

Section: The Potential Of 5g and V2xmentioning

confidence: 95%

Mobility, Citizens, Innovation and Technology in Digital and Smart Cities

et al. 2020

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Cities are constantly transforming and, consequently, attracting efforts from researchers and opportunities to the industry. New transportation systems are being built in order to meet sustainability and efficiency criteria, as well as being adapted to the current possibilities. Moreover, citizens are becoming aware about the power and possibilities provided by the current generation of autonomous devices. In this sense, this paper presents and discusses state-of-the-art transportation technologies and systems, highlighting the advances that the concepts of Internet of Things and Value are providing. Decentralized technologies, such as blockchain, are been extensively investigated by the industry, however, its widespread adoption in cities is still desirable. Aligned with operations research opportunities, this paper identifies different points in which cities’ services could move to. This also study comments about different combinatorial optimization problems that might be useful and important for an efficient evolution of our cities. By considering different perspectives, didactic examples are presented with a main focus on motivating decision makers to balance citizens, investors and industry goals and wishes.

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Section: The Potential Of 5g and V2xmentioning

confidence: 95%

Mobility, Citizens, Innovation and Technology in Digital and Smart Cities

et al. 2020

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“…The simulator is a payment channel network simulator based on network simulator ns-3. Stasi et al [23] developed a simulator to evaluate their proposed improvements to the LN protocol: a novel fee policy that aims at reducing channel unbalancing; and a multipath routing payment scheme. Finally, Reynolds [24] developed ocalm code for basic simulations on LN.…”

Section: E Related Workmentioning

confidence: 99%

Hubs, Rebalancing and Service Providers in the Lightning Network

2019

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Payment channel networks are the most developed proposal to address the well-known issue of blockchain scalability. Currently, the Lightning Network (LN) is the mainstream and most used payment channel network. In a previous work we introduced CLoTH, a payment channel network simulator we developed to analyze capabilities and limitations of such networks. In this work, using CLoTH, we present results of three groups of simulations on a recent snapshot of the LN, aimed to shed a light on the following aspects. Firstly, we investigated how hubs influence the LN performance. Then, we analyzed the effectiveness of two different channel rebalancing approaches, an active and a passive one. Eventually, we studied performance of the LN when a few service-providers nodes receive payments from the other network nodes, which is a typical use case of payment channel networks. We found that the LN is resilient to the removal of hubs, that our passive rebalancing approach reduces of about one fourth the payments failures due to channel unbalancing, and that in the service-providers scenario a consistent part of payments fails because channels directing to the service providers become unbalanced. Our work contributes to prove the strengthen of the Lightning Network when removing hubs and its weakness in the service-provider scenario. In addition, the passive rebalancing approach proposed in this work is a good candidate for the implementation in the Lightning Network protocol to mitigate channel unbalancing.INDEX TERMS Bitcoin, blockchain, blockchain scalability, lightning network, payment channel, payment channel network, simulator.

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“…Interesting tradeoffs arise, as higher fees might lead to higher profits but at the same time to lower probability of being selected as a relay. In any case, fee optimization [42], [43] is an open area of research, especially as current fee structures might be economically irrational for many routing nodes, meaning that, for the current actual traffic volumes, fees have to rise to make the network economically viable [44]. 10 At least one Lightning implementation, c-lightning, allows opening multiple channels with a single commitment transaction [39].…”

Section: ) Channel Creation and Fee Optimizationmentioning

confidence: 99%

Blockchain-Based Payment Channel Networks: Challenges and Recent Advances

Papadis

2020

IEEE Access

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Routing Payments on the Lightning Network

Cited by 42 publications

References 2 publications

Mobility, Citizens, Innovation and Technology in Digital and Smart Cities

Mobility, Citizens, Innovation and Technology in Digital and Smart Cities

Hubs, Rebalancing and Service Providers in the Lightning Network

Blockchain-Based Payment Channel Networks: Challenges and Recent Advances

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