Under shortest-path routing in payment channel networks, any balance-revealing noise mechanism must satisfy the privacy-utility inequality Π ≤ 1 - U, and this bound is asymptotically tight.
OHIE: Blockchain Scaling Made Simple
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abstract
Many blockchain consensus protocols have been proposed recently to scale the throughput of a blockchain with available bandwidth. However, these protocols are becoming increasingly complex, making it more and more difficult to produce proofs of their security guarantees. We propose a novel permissionless blockchain protocol OHIE which explicitly aims for simplicity. OHIE composes as many parallel instances of Bitcoin's original (and simple) backbone protocol as needed to achieve excellent throughput. We formally prove the safety and liveness properties of OHIE. We demonstrate its performance with a prototype implementation and large-scale experiments with up to 50,000 nodes. In our experiments, OHIE achieves linear scaling with available bandwidth, providing about 4-10 Mbps transaction throughput (under 8-20 Mbps per-node available bandwidth configurations) and at least about 20x better decentralization over prior works.
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Privacy-Utility Tradeoffs in Routing Cryptocurrency over Payment Channel Networks
Under shortest-path routing in payment channel networks, any balance-revealing noise mechanism must satisfy the privacy-utility inequality Π ≤ 1 - U, and this bound is asymptotically tight.