Author: Pedro Moreno Sanchez 2017-11-23 00:47:44
Published on: 2017-11-23T00:47:44+00:00
Researchers from Purdue University and the University of Waterloo have developed a new routing algorithm called SpeedyMurmurs for decentralized payment networks such as the Lightning Network. This algorithm assigns meaningful coordinates to nodes, enabling efficient and effective discovery of payment paths while preserving scalability and privacy. The protocol achieves value privacy and sender and receiver privacy, ensuring that the identities of transacting nodes are hidden from adversaries.The simulation results show that SpeedyMurmurs is able to find paths about twice as fast, reduce communication overhead by at least a factor of 2, and maintain a similar or higher payment success ratio. In a conversation related to Bitcoin and Lightning Network, participants discuss various issues, including the possibility of creating an inventory of unproven mathematical assumptions and cryptographic primitives used in cryptocurrency technologies. They also discuss the routing protocol of the Lightning Network, which is still subject to change. Despite the possibility of centralization, the network's value and scalability make it worth pursuing, as the centralization it brings is not one that affects the safety of the money supply itself.Rebalancing is possible without disincentivizing the use of a channel, and opening another channel may be the best option for long-term imbalance. While fees are required for channel setup and teardown, they greatly reduce the fees associated with transactions. Ultimately, the Lightning Network should encourage participants to open channels that support the network as a whole, rather than just themselves.Automations are being built to take care of this so users won't have to do anything to improve the network topology.
Updated on: 2023-05-24T03:06:26.069345+00:00