Sprites and State Channels: Payment Networks that Go Faster Than Lightning

@inproceedings{Miller2019SpritesAS,
  title={Sprites and State Channels: Payment Networks that Go Faster Than Lightning},
  author={Andrew K. Miller and Iddo Bentov and Surya Bakshi and Ranjit Kumaresan and Patrick McCorry},
  booktitle={Financial Cryptography},
  year={2019}
}
Bitcoin, Ethereum and other blockchain-based cryptocurrencies, as deployed today, cannot scale for wide-spread use. [...] Key Method First, our simulation-based security model is the first formalism to model timing guarantees in payment channels. Our construction is also modular, making use of a generic abstraction from folklore, called the "state channel," which we are the first to formalize. We also provide a simulation framework for payment network protocols, which we use to confirm that the Sprites…Expand
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