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A Private Bitcoin Payment Network With Reduced Transaction Fees And Confirmation Times, Enes Erdin
A Private Bitcoin Payment Network With Reduced Transaction Fees And Confirmation Times, Enes Erdin
FIU Electronic Theses and Dissertations
Since its introduction, Bitcoin cryptocurrency has revolutionized the way payment systems can be designed in a purely distributed manner through its novel Blockchain data structure. While Bitcoin has opened new opportunities, it has been long criticized for its slow transaction confirmation times and high transaction fees. To address this issue, one of the recently emerging solutions is to build a payment channel network (PCN) on top of Bitcoin where the transactions can be made without writing to blockchain. Specifically, a PCN is a network where the users connect either directly or indirectly to send payments to each other in a …