Secure Payment Routing Protocol for Economic Systems Based on Blockchain

Qi Xia, Emmanuel Boateng Sifah, Ke Huang, Ruidong Chen, Xiaojiang Du, Jianbin Gao

Research output: Chapter in Book/Report/Conference proceedingConference contributionpeer-review

10 Scopus citations

Abstract

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.

Original languageEnglish
Title of host publication2018 International Conference on Computing, Networking and Communications, ICNC 2018
Pages177-181
Number of pages5
ISBN (Electronic)9781538636527
DOIs
StatePublished - 19 Jun 2018
Event2018 International Conference on Computing, Networking and Communications, ICNC 2018 - Maui, United States
Duration: 5 Mar 20188 Mar 2018

Publication series

Name2018 International Conference on Computing, Networking and Communications, ICNC 2018

Conference

Conference2018 International Conference on Computing, Networking and Communications, ICNC 2018
Country/TerritoryUnited States
CityMaui
Period5/03/188/03/18

Keywords

  • Blockchain
  • Micropayment Network
  • Routing

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