Lightning Network Economics: Channels
Lightning Network Economics: Channels
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闪电网络经济学：渠道
DOI：
10.2139/ssrn.3840374
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发表时间：
2021
期刊：
影响因子：
--
通讯作者：
Clara Shikhelman
中科院分区：
文献类型：
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作者：
P. Guasoni;Gur Huberman;Clara Shikhelman
与现有的支付系统相比，比特币的吞吐量较低。闪电网络（LN）旨在解决比特币的可扩展性挑战，它是一种协议，允许两方确保比特币支付的安全并托管他们之间的资产。在闪电通道中，各方都为未来向交易对手的付款提供抵押品，并且付款是经过加密保护的抵押品更新。通道网络提高了交易速度并减少了区块链拥塞。本文（i）确定了两方最佳建立通道的条件，（ii）找到了通道成本的明确公式，（iii）获得了最佳抵押品和所需的节省，以及（iv）推导出区块链拥塞的隐含减少。单向渠道成本随着支付率的平方根而增长，而对称双向渠道则随着支付率的立方根而增长。当支付率显着不同时，非对称双向通道类似于单向，否则类似于对称双向。这篇论文被商业策略 Joshua Gans 接受。资金：由 SFI (16/IA/4443, 16/SPP/3347)、哥伦比亚-IBM 区块链和数据透明度中心、巴黎第九大学金融科技主席 PSL、Algorand 基金会和西蒙斯研究所提供部分支持。
Compared with existing payment systems, Bitcoin’s throughput is low. Designed to address Bitcoin’s scalability challenge, the Lightning Network (LN) is a protocol allowing two parties to secure bitcoin payments and escrow holdings between them. In a lightning channel, each party commits collateral toward future payments to the counterparty and payments are cryptographically secured updates of collaterals. The network of channels increases transaction speed and reduces blockchain congestion. This paper (i) identifies conditions for two parties to optimally establish a channel, (ii) finds explicit formulas for channel costs, (iii) obtains the optimal collaterals and savings entailed, and (iv) derives the implied reduction in congestion of the blockchain. Unidirectional channels costs grow with the square-root of payment rates, while symmetric bidirectional channels with their cubic root. Asymmetric bidirectional channels are akin to unidirectional when payment rates are significantly different, otherwise to symmetric bidirectional. This paper was accepted by Joshua Gans, business strategy. Funding: Partially supported by SFI (16/IA/4443, 16/SPP/3347), Columbia-IBM Center for Blockchain and Data Transparency, Chaire Fintech at University Paris Dauphine—PSL, Algorand Foundation, and Simons Institute.