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Title: RACED: Routing in PAyment Channel NEtworks Using Distributed Hash Tables
The Bitcoin scalability problem has led to the development of offchain financial mechanisms such as payment channel networks (PCNs) which help users process transactions of varying amounts, including micro-payment transactions, without writing each transaction to the blockchain. Since PCNs only allow path-based transactions, effective, secure routing protocols that find a path between a sender and receiver are fundamental to PCN operations. In this paper, we propose RACED, a routing protocol that leverages the idea of Distributed Hash Tables (DHTs) to route transactions in PCNs in a fast and secure way. Our experiments on real-world transaction datasets show that RACED gives an average transaction success ratio of 98.74%, an average pathfinding time of 31.242 seconds, which is 1.65 × 103, 1.8 × 103, and 4 × 102 times faster than three other recent routing protocols that offer comparable security/privacy properties. We rigorously analyze and prove the security of RACED in the Universal Composability framework.  more » « less
Award ID(s):
2148358
PAR ID:
10502894
Author(s) / Creator(s):
; ;
Publisher / Repository:
ACM Asia Conference on Computer and Communications Security (ACM AsiaCCS)
Date Published:
Journal Name:
ACM Asia Conference on Computer and Communications Security (ACM AsiaCCS)
Subject(s) / Keyword(s):
Payment channel networks Distributed Hash Tables Routing Protocol
Format(s):
Medium: X
Location:
Singapore
Sponsoring Org:
National Science Foundation
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