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Zabka, P., Foerster, K.-T., Decker, C., & Schmid, S. 2022, May 2–6 A centrality analysis of the lightning network. Unpublished paper presented at Financial Cryptography and Data Security 2022. 
Added by: Rucknium (2022-05-05 20:36)   
Resource type: Conference Paper
BibTeX citation key: Zabka2022
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Categories: Monero-focused
Keywords: Payment Channels
Creators: Decker, Foerster, Schmid, Zabka
Collection: Financial Cryptography and Data Security 2022
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Attachments   39.pdf [21/1074] URLs   https://fc22.ifca. ... proceedings/39.pdf
Payment channel networks (PCNs) such as the Lightning
Network offer an appealing solution to the scalability problem faced
by many cryptocurrencies operating on a blockchain such as Bitcoin.
However, PCNs also inherit the stringent dependability requirements of
blockchain. In particular, in order to mitigate liquidity bottlenecks as
well as on-path attacks, it is important that payment channel networks
maintain a high degree of decentralization. Motivated by this require-
ment, we conduct an empirical centrality analysis of the popular Light-
ning Network, and in particular, the betweenness centrality distribution
of the routing system. Based on our extensive data set (using several mil-
lions of channel update messages), we implemented a TimeMachine tool
which enables us to study the network evolution over time. We find that
although the network is generally fairly decentralized, a small number of
nodes can attract a significant fraction of the transactions, introducing
skew. Furthermore, our analysis suggests that over the last two years,
the centrality has increased significantly, e.g., the inequality (measured
by the Gini index) has increased by more than 10%.
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