Abstract
Blockchain is a revolutionary, immutable database disrupting the finance industry with a potential to provide payments in a secure environment, unhindered by intermediaries. However, scalability and throughput issues plague the technology and prevent it’s mass scale adoption. The paper focusses on Lightning Network, the off-chain, scalable and high throughput payment solution from Bitcoin. A comparison is conducted to highlight the fee incurred for payment transactions through Lightning Network, Raiden, Stellar, Bitcoin and conventional payment systems to assess its viability as a blockchain-based payment system. The paper also provides an analysis of the data of Lightning Network, to give a global overview of its usage and reachability.
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Khan, N., State, R. (2020). Lightning Network: A Comparative Review of Transaction Fees and Data Analysis. In: Prieto, J., Das, A., Ferretti, S., Pinto, A., Corchado, J. (eds) Blockchain and Applications. BLOCKCHAIN 2019. Advances in Intelligent Systems and Computing, vol 1010 . Springer, Cham. https://doi.org/10.1007/978-3-030-23813-1_2
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DOI: https://doi.org/10.1007/978-3-030-23813-1_2
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