TY - GEN
T1 - Secure Payment Routing Protocol for Economic Systems Based on Blockchain
AU - Xia, Qi
AU - Sifah, Emmanuel Boateng
AU - Huang, Ke
AU - Chen, Ruidong
AU - Du, Xiaojiang
AU - Gao, Jianbin
N1 - Publisher Copyright:
© 2018 IEEE.
PY - 2018/6/19
Y1 - 2018/6/19
N2 - Blockchain, as secure means for asset transfer, greatly attracts the attention of the global economic community. However, scalability strongly hampers the growth of economic systems based on the blockchain technology. Bidirectional micropayment channels are suitable solutions for scalability on economic systems based on blockchain. However, the challenge presented by micropayment channels is the inefficient routing mechanisms and timelocks generated per channel for a given path chosen to execute a transaction. In this paper, we develop suitable routing algorithms for economic systems based on blockchain. We additionally derive suitable equations to generate unique timelocks for channels belonging to selected paths chosen to execute a transaction. Finally, we demonstrate the efficiency of the protocol based on number of connections and bandwidth with evidence showing the efficiency and scalability of the routing mechanism.
AB - Blockchain, as secure means for asset transfer, greatly attracts the attention of the global economic community. However, scalability strongly hampers the growth of economic systems based on the blockchain technology. Bidirectional micropayment channels are suitable solutions for scalability on economic systems based on blockchain. However, the challenge presented by micropayment channels is the inefficient routing mechanisms and timelocks generated per channel for a given path chosen to execute a transaction. In this paper, we develop suitable routing algorithms for economic systems based on blockchain. We additionally derive suitable equations to generate unique timelocks for channels belonging to selected paths chosen to execute a transaction. Finally, we demonstrate the efficiency of the protocol based on number of connections and bandwidth with evidence showing the efficiency and scalability of the routing mechanism.
KW - Blockchain
KW - Micropayment Network
KW - Routing
UR - http://www.scopus.com/inward/record.url?scp=85050142495&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=85050142495&partnerID=8YFLogxK
U2 - 10.1109/ICCNC.2018.8390309
DO - 10.1109/ICCNC.2018.8390309
M3 - Conference contribution
AN - SCOPUS:85050142495
T3 - 2018 International Conference on Computing, Networking and Communications, ICNC 2018
SP - 177
EP - 181
BT - 2018 International Conference on Computing, Networking and Communications, ICNC 2018
T2 - 2018 International Conference on Computing, Networking and Communications, ICNC 2018
Y2 - 5 March 2018 through 8 March 2018
ER -