Sharif Digital Repository

The rapid proliferation of the Internet of Things has heightened the demand for efficient, low-cost micropayments to support seamless service provisioning—a requirement fundamentally at odds with the inherent scalability issues of blockchain technology. Digital assets like Bitcoin, despite offering a decentralized and cryptographically secure foundation for the machine-to-machine (M2M) economy, struggle to accommodate high-frequency transactions. While payment channel networks (PCNs) propose an innovative off-chain solution to bypass blockchain bottlenecks, they remain impractical for resource-constrained IoT devices, where stringent storage, memory, and processing restrictions make PCN...