1 / 37

Routing Cryptocurrency with t he Spider Network

This research focuses on designing routing in payment channel networks for high transaction throughput with a small amount of capital. The approach includes packet-switched networks and balance-aware-routing based on real-time balance information.

amoss
Download Presentation

Routing Cryptocurrency with t he Spider Network

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Routing Cryptocurrency with the Spider Network Vibhaalakshmi SIVARAMAN, SHAILESHH VENKATAKRISHNAN, MOHAMMAD ALIZADEH, GIULIA FANTI, PRAMOD VISWANATH

  2. What is a blockchain? Blockchain (1) 4 Alice Bob Miners

  3. Blockchain Transactions (2) (5) (4) (3) (1) 1 1 4 3 5 5 4 Alice Alice Alice Mary Charlie Bob Bob Bob Eve Eve 2 2

  4. Cryptocurrencies don’t scale! STORAGE Needs 350 additional GB per day for faster transactions FEES Some transactions can be as expensive as $34 LATENCY Bitcoin transaction confirmation time ∼ 1 hr

  5. Solution: Payment Channels 1 1 1 2 2 2 Key Idea: Use blockchain (as arbiter) only as necessary!

  6. Solution: Payment Channels (1) 4 1 3 Open Channel Alice Bob 2

  7. Solution: Payment Channels (1) 4 1 1 3 (2) 3 4 4 3 Open Channel Txn 1 Alice Bob 2 2 Alice Bob

  8. Solution: Payment Channels (2) (1) 4 1 1 3 Open Channel Txn 1 (3) 5 3 2 4 Txn 2 Alice Alice Bob Bob 2 2 - Alice Alice Bob

  9. Solution: Payment Channels (5…) (n) (4) (3) (1) (2) 4 5 3 5 5 5 1 1 3 2 2 2 2 4 Close Channel Open Channel Txn 2 Txn 1 Txn 2 Txn 2 Alice Alice Alice Alice Alice Alice Bob Bob Bob Bob Bob Bob 2 2 - Alice - Bob - Bob - Bob

  10. Payment Channel Network Charlie Alice 6 6 3 Bob 0 1 1 3 3 3 1 Eve Mary

  11. Payment Channel Network Alice wants to send 3 coins to Bob Charlie Alice 6 6 3 Bob 0 1 1 3 3 3 1 Eve Mary

  12. Payment Channel Network Alice wants to send 3 coins to Bob Charlie Alice 6 6 3 Bob 0 1 1 3 3 3 1 Eve Mary

  13. Payment Channel Network Alice wants to send 3 coins to Bob Charlie Alice 6 6 6 3 3 3 Bob 3 0 1 1 3 3 3 1 Eve Mary

  14. Routing in Payment Channel Networks Alice wants to send 3 more coins to Bob Charlie Alice 6 3 3 Bob 3 1 1 3 3 3 1 Eve Mary

  15. Routing in Payment Channel Networks Alice wants to send 3 more coins to Bob Charlie Alice 6 3 3 Bob 3 1 1 3 3 3 1 Eve Mary

  16. Routing in Payment Channel Networks Alice wants to send 3 more coins to Bob Charlie Alice 6 3 3 Bob 3 1 1 3 3 3 1 Eve Mary

  17. Routing in Payment Channel Networks Alice wants to send 3 more coins to Bob Charlie Alice 9 6 3 0 3 6 Bob 0 3 1 1 3 3 3 1 Eve Mary

  18. Routing in Payment Channel Networks Charlie Alice 9 6 Bob 0 0 1 1 3 3 3 1 Eve Mary

  19. Routing in Payment Channel Networks Charlie wants to send 3coins to Bob Charlie Alice 9 6 Bob 0 0 1 1 3 3 3 1 Eve Mary

  20. Payment Channel Network Charlie wants to send 3coins to Bob Charlie Alice 9 6 Bob 0 0 1 1 3 3 3 1 Eve Mary

  21. Payment Channel Network 😟 Charlie wants to send 3coins to Bob Charlie Alice 9 6 Bob 0 0 1 1 3 3 3 1 Eve Mary

  22. The Spider Network Goal: Design routing in payment channel networks for high transaction throughput with a small amount of capital Approach: • Packet-switched Network: Split transactions at senders • Balance aware-routing: Route based on real time balance information

  23. Packet-switched Payment Channel Network Alice wants to send 3 coins to Bob Charlie Alice 6 3 2 Bob 0 1 1 3 3 3 1 Eve Mary

  24. Packet-switched Payment Channel Network Alice wants to send 3 coins to Bob Charlie Alice 6 3 2 Bob 0 1 1 3 3 3 1 Eve Mary

  25. Packet-switched Payment Channel Network 1 Alice wants to send 3 coins to Bob Charlie Alice 2 6 3 2 Bob 0 1 1 3 3 3 1 Eve Mary

  26. Packet-switched Payment Channel Network 1 Alice wants to send 3 coins to Bob Charlie Alice 2 3 3 2 Bob 0 1 1 3 3 3 1 Eve Mary

  27. Packet-switched Payment Channel Network 1 Alice wants to send 3 coins to Bob Charlie Alice 2 3 3 2 Bob 0 1 1 3 3 3 1 Eve Mary

  28. Packet-switched Payment Channel Network 1 Charlie Alice 2 3 6 5 3 2 Bob 0 0 0 1 1 4 3 3 2 3 2 2 1 Eve Mary

  29. Supporting Large Payments Alice needs to send 30 coins to Bob Bob needs to send 30 coins to Alice 5/30 sent 3/30 sent 4/30 sent 1/30 sent Done 0/30 sent 2/30 more Charlie Alice 6 5 0/30 sent 2/30 sent 3/30 sent 1/30 sent Done 5/30 sent 4/30 sent 3 4 2 1 Bob 0

  30. The Routing Problem Fluid Model: Transactions as continuous streams Rates per edge? Topology Payment Graph or Demand c1 Charlie 2 2 1 c6 c2 2 1 c3 2 1 1 c4 c5 Bob Alice Rate on forward edge = Rate on backward edge

  31. What’s the best we can do? Payment Graph Circulation DAG Needs blockchain Can be routed 2 1 1 2 1 1 1 1 + = 2 1 1 1 2 2 1 1 1 1 1 1

  32. Routing the Circulation Topology ruv rvu rvu rvu ruv rvu ruv ruv ruv rvu ruv rvu Maximize sum of rates Constraints: • Rate per edge < capacity • Rate on forward edge = Rate on backward edge

  33. Decentralized Algorithm 6 3 9 pvu puv 0 Price increase Price decrease Eve Charlie

  34. Evaluation Simulator to model transaction processing Transactions modelled off real-time currency exchange data Topology modelled off ISP graphs and currency exchange data

  35. Preliminary Results Circulation Success Percentage

  36. Summary Payment channels promise to improve cryptocurrencies’ scalability Yet, they suffer from imbalance problems We packetize transactions and use balance-aware routing to improve their transaction throughput • Future Work: • End-host rate control mechanisms • In-network scheduling algorithms • Economic incentives for intermediaries

  37. Ripple Results Success Percentage Circulation

More Related