Zhengbing Hu; I.A. Dychka; Mykola Onai; Yuri Zhykin

Blind Payment Protocol for Payment Channel Networks

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Author(s)

Zhengbing Hu ^1,* I.A. Dychka ² Mykola Onai ² Yuri Zhykin ²

1. School of Educational Information Technology, Central China Normal University, China

2. Faculty of Applied Mathematics, National Technical University of Ukraine "Igor Sikorsky Kyiv Polytechnic Institute", Ukraine

* Corresponding author.

DOI: https://doi.org/10.5815/ijcnis.2019.06.03

Received: 16 Jan. 2019 / Revised: 25 Feb. 2019 / Accepted: 24 Mar. 2019 / Published: 8 Jun. 2019

Index Terms

Bitcoin, cryptocurrency, networks, second layer protocols, micropayments, payment channels, privacy

Abstract

One of the most important problems of modern cryptocurrency networks is the problem of scaling: advanced cryptocurrencies like Bitcoin can handle around 5 transactions per second. One of the most promising solutions to this problem are second layer payment protocols: payment networks implemented on top of base cryptocurrency network layer, based on the idea of delaying publication of intermediate transactions and using base network only as a finalization layer. Such networks consist of entities that interact with the cryptocurrency system via a payment channel protocol, and can send, receive and forward payments. This paper describes a formal actor-based model of payment channel network and uses it to formulate a modified payment protocol that can be executed in the network without requiring any information about its topology and thus can hide information about financial relations between nodes.

Cite This Paper

Zhengbing Hu, Ivan Dychka, Mykola Onai, Yuri Zhykin, "Blind Payment Protocol for Payment Channel Networks", International Journal of Computer Network and Information Security(IJCNIS), Vol.11, No.6, pp.22-28, 2019.DOI:10.5815/ijcnis.2019.06.03

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International Journal of Computer Network and Information Security (IJCNIS)