• Corpus ID: 237581384

3-of-3 Multisignature Approach for Enabling Lightning Network Micro-payments on IoT Devices

@article{Kurt20213of3MA,
  title={3-of-3 Multisignature Approach for Enabling Lightning Network Micro-payments on IoT Devices},
  author={Ahmet Kurt and Suat Mercan and Enes Erdin and Kemal Akkaya},
  journal={ArXiv},
  year={2021},
  volume={abs/2109.09950}
}
Bitcoin’s success as a cryptocurrency enabled it to penetrate into many daily life transactions. Its problems regarding the transaction fees and long validation times are addressed through an innovative concept called the Lightning Network (LN) which works on top of Bitcoin by leveraging off-chain transactions. This made Bitcoin an attractive micropayment solution that can also be used within certain IoT applications (e.g., toll payments) since it eliminates the need for traditional centralized… 
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