This video presents our Publication (203045) to IEEE International Conference on Blockchain and Cryptocurrency 2020. The open access and extended version of the paper can be found at: https://arxiv.org/abs/1912.09555 the code from the simulation framework can be found at: https://github.com/renepickhardt/Imbalance-measure-and-proactive-channel-rebalancing-algorithm-for-the-Lightning-Network Also there is a discussion at the Lightning-dev mailinglist: https://lists.linuxfoundation.org/pipermail/lightning-dev/2019-December/002406.html
Joint Work at NTNU with Mariusz Nowostawski.
Abstract: Making a payment in a privacy-aware payment channel network is achieved by trying several payment paths until one succeeds. With a large network, such as the Lightning Network, a completion of a single payment can take up to several minutes. We introduce a network imbalance measure and formulate the optimization problem of improving the balance of the network as a sequence of rebalancing operations of the funds within the channels along circular paths within the network. As the funds and balances of channels are not globally known, we introduce a greedy heuristic with which every node despite the uncertainty can improve its own local balance. In an empirical simulation on a recent snapshot of the Lightning Network we demonstrate that the imbalance distribution of the network has a Kolmogorov-Smirnoff distance of 0.74 in comparison to the imbalance distribution after the heuristic is applied. We further show that the success rate of a single unit payment increases from 11.2% on the imbalanced network to 98.3% in the balanced network. Similarly, the median possible payment size across all pairs of participants increases from 0 to 0.5 mBTC for initial routing attempts on the cheapest possible path. We provide an empirical evidence that routing fees should be dropped for proactive rebalancing operations. Executing 4 different strategies for selecting rebalancing cycles lead to similar results indicating that a collaborative approach within the friend of a friend network might be preferable from a practical point of view
Checkout https://lnbook.info and https://github.com/lnbook/lnbook Also please consider to support my work by becoming a monthly patreon: https://www.patreon.com/renepickhardt or with a bitcoin donation on tallycoin: http://tallyco.in/s/lnbook/
I will appreciate the kindness if you leave a (small!) tip.
BTC-address:
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Leave an even more anonymous tip via the ⚡ Lightning ⚡ network (: Get the invoice with this curl statement:
curl -i -H "Accept: application/json" -d '{"amount":ENTER_AN_INTEGER_AMOUNT_OF_SATOSHIS_INSTEAD_OF_THIS}' http://ln.rene-pickhardt.de/invoice
My web site: https://www.rene-pickhardt.de and Twitter: https://twitter.com/renepickhardt as well as my lightning node: https://ln.rene-pickhardt.de
Joint Work at NTNU with Mariusz Nowostawski.
Abstract: Making a payment in a privacy-aware payment channel network is achieved by trying several payment paths until one succeeds. With a large network, such as the Lightning Network, a completion of a single payment can take up to several minutes. We introduce a network imbalance measure and formulate the optimization problem of improving the balance of the network as a sequence of rebalancing operations of the funds within the channels along circular paths within the network. As the funds and balances of channels are not globally known, we introduce a greedy heuristic with which every node despite the uncertainty can improve its own local balance. In an empirical simulation on a recent snapshot of the Lightning Network we demonstrate that the imbalance distribution of the network has a Kolmogorov-Smirnoff distance of 0.74 in comparison to the imbalance distribution after the heuristic is applied. We further show that the success rate of a single unit payment increases from 11.2% on the imbalanced network to 98.3% in the balanced network. Similarly, the median possible payment size across all pairs of participants increases from 0 to 0.5 mBTC for initial routing attempts on the cheapest possible path. We provide an empirical evidence that routing fees should be dropped for proactive rebalancing operations. Executing 4 different strategies for selecting rebalancing cycles lead to similar results indicating that a collaborative approach within the friend of a friend network might be preferable from a practical point of view
Checkout https://lnbook.info and https://github.com/lnbook/lnbook Also please consider to support my work by becoming a monthly patreon: https://www.patreon.com/renepickhardt or with a bitcoin donation on tallycoin: http://tallyco.in/s/lnbook/
I will appreciate the kindness if you leave a (small!) tip.
BTC-address:
1KwjU4UknzbXh1rnP1jAKz9wwjcuYwe9AC
segwit: 38fWwbsxvVeBsJpH4bbHTBai8jT8RUa7DE
Leave an even more anonymous tip via the ⚡ Lightning ⚡ network (: Get the invoice with this curl statement:
curl -i -H "Accept: application/json" -d '{"amount":ENTER_AN_INTEGER_AMOUNT_OF_SATOSHIS_INSTEAD_OF_THIS}' http://ln.rene-pickhardt.de/invoice
My web site: https://www.rene-pickhardt.de and Twitter: https://twitter.com/renepickhardt as well as my lightning node: https://ln.rene-pickhardt.de
