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Payment Trees: Low Collateral Payments for Payment Channel Networks
2021The security of blockchain based decentralized ledgers relies on consensus protocols executed between mutually distrustful parties. Such protocols incur delays which severely limit the throughput of such ledgers. Payment and state channels enable execution of offchain protocols that allow interaction between parties without involving the consensus ...
Maxim Jourenko +2 more
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Endogenous clearinghouse formation in payment networks
Review of Evolutionary Political Economy, 2021Moving from the historical experience of the Free Banking Era characterizing the US banking system from 1837 to 1863, the purpose of this paper is to investigate the rationale for the endogenous emergence of a clearinghouse, that is, a centralized institution established to manage monetary payments among many economic units. To this end, we propound an
Gaffeo, Edoardo +2 more
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Utility-Aware Payment Channel Network Rebalance
Proceedings of the VLDB Endowment, 2023The payment channel network (PCN) is a promising solution to increase the throughput of blockchains. However, unidirectional transactions can deplete a user's deposits in a payment channel (PC), reducing the success ratio of transactions (SRoT). To address this depletion issue, rebalance protocols are used to shift tokens from well-deposited PCs to ...
Wangze Ni +5 more
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Payment switches for open networks
Digest of Papers. COMPCON'95. Technologies for the Information Superhighway, 2002We describe the first operational Internet payment switch that provides real-time authorization suitable for direct use by merchant servers. A payment switch is a server that creates digital representations of conventional financial instruments and forwards authentic payment orders on these instruments to their corresponding conventional financial ...
D.K. Gifford +3 more
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Rebalancing in Acyclic Payment Networks
2019 17th International Conference on Privacy, Security and Trust (PST), 2019In this paper, we propose a technique for rebalancing link weights in acyclic payment networks, which are peer-to-peer networks with payment channels or links between users. Payment networks such as Ripple and Stellar offer a range of services such as real-time payment transfers, including cross-currency transactions, and are growing in popularity ...
Lalitha Muthu Subramanian +2 more
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Card Payment Protocol for Cryptocurrencies with Payment Channel Network
Distributed Ledger Technologies: Research and PracticeCryptocurrency, despite the upsurge as a speculative investment, is still a long way from being people’s money. The extreme technicality poses a significant barrier for the general public to adopt it as a medium of exchange. Therefore, simplifying the payment process is a predominant necessity; for example, facilitation in adopting conventional payment
Anupa De Silva +2 more
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RobustPay: Robust Payment Routing Protocol in Blockchain-based Payment Channel Networks
2019 IEEE 27th International Conference on Network Protocols (ICNP), 2019The past decade has witnessed an explosive growth in cryptocurrencies, but the blockchain-based cryptocurrencies have also raised many concerns, among which a crucial one is the scalability issue. Suffering from the large overhead of global consensus and security assurance, even the leading cryptocurrencies can only handle up to tens of transactions ...
Yuhui Zhang, Dejun Yang
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