Collateral-Efficient Instant Contingent Payments : The Promise of a Hardware-Driven Off-Chain Payment System
Research output: Chapters, Conference Papers, Creative and Literary Works › RGC 32 - Refereed conference paper (with host publication) › peer-review
Author(s)
Related Research Unit(s)
Detail(s)
| Original language | English |
|---|---|
| Title of host publication | Tools for Design, Implementation and Verification of Emerging Information Technologies |
| Subtitle of host publication | 18th EAI International Conference, TRIDENTCOM 2023, Nanjing, China, November 11-13, 2023, Proceedings |
| Editors | Jianghua Liu, Lei Xu, Xinyi Huang |
| Place of Publication | Cham |
| Publisher | Springer |
| Pages | 21-37 |
| ISBN (electronic) | 978-3-031-51399-2 |
| ISBN (print) | 9783031513985 |
| Publication status | Published - 2024 |
Publication series
| Name | Lecture Notes of the Institute for Computer Sciences, Social-Informatics and Telecommunications Engineering |
|---|---|
| Volume | 523 |
| ISSN (Print) | 1867-8211 |
| ISSN (electronic) | 1867-822X |
Conference
| Title | 18th EAI International Conference on Tools for Design, Implementation and Verification of Emerging Information Technologies (TRIDENTCOM 2023) |
|---|---|
| Place | China |
| City | Nanjing |
| Period | 11 - 13 November 2023 |
Link(s)
Abstract
As the cryptocurrency universe continues to expand at an unprecedented pace, efficient and routine transactions have become a critical necessity. Yet, the current transaction processing capabilities of many blockchains fail to meet the burgeoning demands of retail payments. While off-chain scaling solutions present promising alternatives to augment blockchain throughput and uphold compatibility with established blockchains, they often impose impractical burdens on users or experience significant payment latency. This study introduces a hardware-driven off-chain payment system designed to accommodate contingent payments. Merchants can accept payments instantly without waiting for transaction confirmation. Our assessment reveals that this system can achieve a peak throughput of approximately 10000 payments per second, representing an 84-fold improvement over traditional Ethereum transactions. This hardware-driven solution holds significant promise for instant and collateral-efficient transactions, effectively unlocking the untapped potential of instant payments with high throughput. © 2024, ICST Institute for Computer Sciences, Social Informatics and Telecommunications Engineering.
Research Area(s)
- Contingent payment, Off-chain transaction, Trusted hardware
Citation Format(s)
Collateral-Efficient Instant Contingent Payments: The Promise of a Hardware-Driven Off-Chain Payment System. / Zhou, Anxin; Du, Yuefeng; Jia, Xiaohua.
Tools for Design, Implementation and Verification of Emerging Information Technologies: 18th EAI International Conference, TRIDENTCOM 2023, Nanjing, China, November 11-13, 2023, Proceedings. ed. / Jianghua Liu; Lei Xu; Xinyi Huang. Cham: Springer , 2024. p. 21-37 (Lecture Notes of the Institute for Computer Sciences, Social-Informatics and Telecommunications Engineering; Vol. 523).
Tools for Design, Implementation and Verification of Emerging Information Technologies: 18th EAI International Conference, TRIDENTCOM 2023, Nanjing, China, November 11-13, 2023, Proceedings. ed. / Jianghua Liu; Lei Xu; Xinyi Huang. Cham: Springer , 2024. p. 21-37 (Lecture Notes of the Institute for Computer Sciences, Social-Informatics and Telecommunications Engineering; Vol. 523).
Research output: Chapters, Conference Papers, Creative and Literary Works › RGC 32 - Refereed conference paper (with host publication) › peer-review
