Concurrency and privacy with payment-channel networks (paper summary)

Payment channel networks (PCNs) are a promising technology to overcome scalability challenges of open blockchains by moving the majority of transactions off-chain. At the time of writing, the only PCN working in production on at least some scale is the Lightning network (LN) for Bitcoin. I haven’t yet written the planned second and other parts of the series on how LN works (see part 1 and stay tuned). Today I present you the summary of a paper by Giulio Malavolta et al. entitled “Concurrency and Privacy with Payment-Channel Networks” (CCS 2017). It describes and formalizes the privacy and security of PCNs, and propose two PCN constructions which improve over LN, exploring the inherent privacy vs concurrency trade-off.

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Hello, world!

Hi, I’m Sergei. I’m doing blockchain security research in the University of Luxembourg. Read more on the About page.

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