| Title |
Method for determining the level of centralization in BTC lightning nodes: a centrality analysis of the lightning network |
| Authors |
Atmanavičiūtė, Laura ; Vanagas, Tomas ; Masteika, Saulius |
| DOI |
10.15388/LMITT.2024.1 |
| Full Text |
|
| Is Part of |
Lietuvos magistrantų informatikos ir IT tyrimai: konferencijos darbai, 2024 m. gegužės 10 d... Vilnius : Vilniaus universiteto leidykla. 2024, p. 6-14.. eISSN 2783-784X |
| Keywords [eng] |
bitcoin ; lightning network ; centralization ; data processing |
| Abstract [eng] |
This study explores the Bitcoin Lightning Network (BLN), a Layer 2 solution for faster and cheaper transactions. Concerns about centralization have emerged due to the increasing concentration of power among specific nodes, named “hubs.” Statistical measures like the Gini coefficient reveal a trend towards centralization, challenging the LN’s decentralized nature. Consequently, further research is necessary to address this issue and ensure the integrity of the LN architecture. This paper aims to establish a method for determining the level of centralization within the BLN by applying centrality analysis techniques. Study revealed that over the six-year period Gini coefficient increased from 0.87 to 0.955, indicating significant inequality and apparent centralization of BLN nodes. |
| Published |
Vilnius : Vilniaus universiteto leidykla |
| Type |
Conference paper |
| Language |
English |
| Publication date |
2024 |
| CC license |
|
