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- Type of Document: M.Sc. Thesis
- Language: Farsi
- Document No: 55575 (19)
- University: Sharif University of Technology
- Department: Computer Engineering
- Advisor(s): Hemmatyar, Ali Mohammad Afshin
- Abstract:
- In 2008, a decentralized and distributed payment solution called Bitcoin was born. Since then, it has made the payment industry think about banks and companies on the one hand and government authorities on the other. By using mathematics and cryptography, Bitcoin was able to eliminate the need for trust and in this way it was able to eliminate intermediaries such as banks. In traditional financial affairs such as banks, the user must trust the bank and everything relies on the bank’s servers. While Bitcoin stores the history of transactions in a public and distributed ledger. This ledger is encrypted so that the state of the blockchain is always reliable. In Bitcoin’s decentralized and peer-to-peer network, transactions cannot be processed instantaneously, and the current protocol is unable to process thousands of transactions per second and must be scalable to become a global payment system. Currently, blockchain solutions suffer from high network latency. For example, the Bitcoin network can process a maximum of 7 transactions per second. Blockchain layer 2 solutions are designed with the aim of solving the problem of scalability of transactions in these networks. The idea behind layer 2 solutions is to use payment channels and make transactions off-chain. In payment channels, transactions are done quickly and almost instantaneously between users and are finally sent to the blockchain to finalize the transaction. In payment channels, blockchain is only used to open and close the channel. The Lightning Network is a layer 2 solution and a payment channel for the Bitcoin blockchain. This network sits on top of the Bitcoin network and routes transactions between users. In this research, we first examine the basics and requirements of routing in the Lightning network. Then, we will analyze the routing algorithms that have been recently introduced in the articles based on the parameters that we will introduce and examine their limitations. Then, inspired by one of the algorithms introduced in 2021, the proposed algorithm and its simulation results are presented.
- Keywords:
- Bitcoin ; Payment Channels ; Scalability ; Blockchain ; Lightening ; Layer Two Solution ; Bitcoin Blockchain ; Routing
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