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LNGate$^2$: Secure Bidirectional IoT Micro-payments using Bitcoin's Lightning Network and Threshold Cryptography. (arXiv:2206.02248v1 [cs.CR])
June 7, 2022, 1:20 a.m. | Ahmet Kurt, Kemal Akkaya, Sabri Yilmaz, Suat Mercan, Omer Shlomovits, Enes Erdin
cs.CR updates on arXiv.org arxiv.org
Bitcoin has emerged as a revolutionary payment system with its decentralized
ledger concept; however it has significant problems such as high transaction
fees and low throughput. Lightning Network (LN), which was introduced much
later, solves most of these problems with an innovative concept called
off-chain payments. With this advancement, Bitcoin has become an attractive
venue to perform micro-payments which can also be adopted in many IoT
applications (e.g., toll payments). Nevertheless, it is not feasible to host LN
and Bitcoin …
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