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Topological Analysis of Bitcoin’s Lightning Network

In: Mathematical Research for Blockchain Economy

Author

Listed:
  • István András Seres

    (Eötvös Loránd University)

  • László Gulyás

    (Eötvös Loránd University)

  • Dániel A. Nagy

    (Eötvös Loránd University)

  • Péter Burcsi

    (Eötvös Loránd University)

Abstract

Bitcoin’s Lightning Network (LN) is a scalability solution for Bitcoin allowing transactions to be issued with negligible fees and settled instantly at scale. In order to use LN, funds need to be locked in payment channels on the Bitcoin blockchain (Layer-1) for subsequent use in LN (Layer-2). LN is comprised of many payment channels forming a payment channel network. LN’s promise is that relatively few payment channels already enable anyone to efficiently, securely and privately route payments across the whole network. In this paper, we quantify the structural properties of LN and argue that LN’s current topological properties can be ameliorated in order to improve the security of LN, enabling it to reach its true potential.

Suggested Citation

  • István András Seres & László Gulyás & Dániel A. Nagy & Péter Burcsi, 2020. "Topological Analysis of Bitcoin’s Lightning Network," Springer Proceedings in Business and Economics, in: Panos Pardalos & Ilias Kotsireas & Yike Guo & William Knottenbelt (ed.), Mathematical Research for Blockchain Economy, pages 1-12, Springer.
    • Handle: RePEc:spr:prbchp:978-3-030-37110-4_1
    DOI: 10.1007/978-3-030-37110-4_1
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    Cited by:

    1. Qiang Liu & Baoyan Song & Junlu Wang, 2022. "Second-degree branch structure blockchain expansion model," International Journal of Distributed Sensor Networks, , vol. 18(3), pages 15501477211, March.

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