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BLN: A LAYER-2 Framework for Fast Bitcoin Transaction Processing

dc.contributor.authorWang, Yahu
dc.contributor.copyright-releaseNot Applicableen_US
dc.contributor.degreeMaster of Computer Scienceen_US
dc.contributor.departmentFaculty of Computer Scienceen_US
dc.contributor.ethics-approvalNot Applicableen_US
dc.contributor.external-examinern/aen_US
dc.contributor.graduate-coordinatorMichael McAllisteren_US
dc.contributor.manuscriptsNot Applicableen_US
dc.contributor.thesis-readerSaurabh Deyen_US
dc.contributor.thesis-readerRaghav Sampangien_US
dc.contributor.thesis-supervisorQiang Yeen_US
dc.date.accessioned2023-04-13T12:36:21Z
dc.date.available2023-04-13T12:36:21Z
dc.date.defence2023-04-03
dc.date.issued2023-04-11
dc.descriptionThe purpose of this thesis is to propose a new trading model based on the existing structure of Bitcoin and the Lightning Network. We want to solve the problem that the Lightning Network does not support large transactions and the inequality between the two parties in transactions. Additionally, we also aim to extend the transaction scenario to online shopping, rather than just in-store purchases.en_US
dc.description.abstractLightning Network (LN) is a layer-2 protocol that enables fast Bitcoin transaction processing. However, it only works well for peer-to-peer micropayments, namely, small amount payments between individual parties. In this thesis, we propose an LN-based framework for both peer-to-peer and customer-to-business payments, the Business-oriented Layer-2 Network (BLN). With BLN, Bitcoin transaction processing scales much better. Our experimental results indicate that BLN outperforms LN in terms of transaction failure rate, transaction fee, and processing time.en_US
dc.identifier.urihttp://hdl.handle.net/10222/82389
dc.language.isoenen_US
dc.subjectBitcoinen_US
dc.subjectLightning Networken_US
dc.subjectRedisen_US
dc.titleBLN: A LAYER-2 Framework for Fast Bitcoin Transaction Processingen_US

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