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- W2952999725 abstract "Resource-constrained devices are unable to maintain a full copy of the Bitcoin Blockchain in memory. This paper proposes a bidirectional payment channel framework for IoT devices. This framework utilizes Bitcoin Lightning-Network-like payment channels with low processing and storage requirements. This protocol enables IoT devices to open and maintain payment channels with traditional Bitcoin nodes without a view of the blockchain. Unlike existing solutions, it does not require a trusted third party to interact with the blockchain nor does it burden the peer-to-peer network in the way SPV clients do. The contribution of this paper includes a secure and crypto-economically fair protocol for bidirectional Bitcoin payment channels. In addition, we demonstrate the security and fairness of the protocol by formulating it as a game in which the equilibrium is reached when all players follow the protocol." @default.
- W2952999725 created "2019-06-27" @default.
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- W2952999725 date "2018-12-26" @default.
- W2952999725 modified "2023-10-16" @default.
- W2952999725 title "Bitcoin Payment-channels for Resource Limited IoT Devices" @default.
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- W2952999725 doi "https://doi.org/10.48550/arxiv.1812.10345" @default.
- W2952999725 hasPublicationYear "2018" @default.
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