TY - GEN
T1 - CoinExpress
T2 - 27th International Conference on Computer Communications and Networks, ICCCN 2018
AU - Yu, Ruozhou
AU - Xue, Guoliang
AU - Kilari, Vishnu Teja
AU - Yang, Dejun
AU - Tang, Jian
N1 - Publisher Copyright:
© 2018 IEEE.
PY - 2018/10/9
Y1 - 2018/10/9
N2 - Although cryptocurrencies have witnessed explosive growth in the past year, they have also raised many concerns, among which a crucial one is the scalability issue of blockchain-based cryptocurrencies. Suffering from the large overhead of global consensus and security assurance, even leading cryptocurrencies can only handle up to tens of transactions per second, which largely limits their applications in real- world scenarios. Among many proposals to improve cryptocurrency scalability, one of the most promising and mature solutions is the payment channel network (PCN), which offers off-chain settlement of transactions with minimal involvement of expensive blockchain operations. In this paper, we investigate the problem of payment routing in PCN. We suggest crucial design goals in PCN routing, and propose a novel distributed dynamic routing mechanism called CoinExpress. Through extensive simulations, we have shown that our proposed mechanism is able to achieve outstanding payment acceptance ratio with low routing overhead.
AB - Although cryptocurrencies have witnessed explosive growth in the past year, they have also raised many concerns, among which a crucial one is the scalability issue of blockchain-based cryptocurrencies. Suffering from the large overhead of global consensus and security assurance, even leading cryptocurrencies can only handle up to tens of transactions per second, which largely limits their applications in real- world scenarios. Among many proposals to improve cryptocurrency scalability, one of the most promising and mature solutions is the payment channel network (PCN), which offers off-chain settlement of transactions with minimal involvement of expensive blockchain operations. In this paper, we investigate the problem of payment routing in PCN. We suggest crucial design goals in PCN routing, and propose a novel distributed dynamic routing mechanism called CoinExpress. Through extensive simulations, we have shown that our proposed mechanism is able to achieve outstanding payment acceptance ratio with low routing overhead.
KW - Bitcoin Lightning Network
KW - Cryptocurrency
KW - blockchain
KW - payment channel network
KW - routing
UR - http://www.scopus.com/inward/record.url?scp=85060487699&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=85060487699&partnerID=8YFLogxK
U2 - 10.1109/ICCCN.2018.8487351
DO - 10.1109/ICCCN.2018.8487351
M3 - Conference contribution
AN - SCOPUS:85060487699
T3 - Proceedings - International Conference on Computer Communications and Networks, ICCCN
BT - ICCCN 2018 - 27th International Conference on Computer Communications and Networks
PB - Institute of Electrical and Electronics Engineers Inc.
Y2 - 30 July 2018 through 2 August 2018
ER -