Research And Design Of Payment System Based On Blockchain

Blockchain has become one of the hottest topics in business and technology today.It is believed to have the opportunity to revolutionize the financial industry because of its ability to operate without any central authority or intermediary.It is also believed that blockchain will benefit other industries because of its ability to store tamper-proof data and manage huge data records in an efficient manner.However,similar to other emerging technologies,blockchain has its limitations.Blockchain technology,as represented by Bitcoin,has been plagued by capacity issues,and a number of scaling solutions have been proposed to address this problem.A second layer network is a technology that solves the blockchain scaling problem.The parties connected in this network can establish channels and thus send digital currencies to each other.Since interaction with the blockchain is required only for establishing and closing channels,a large number of transactions do not need to be recorded on the blockchain,thus reducing the footprint on the blockchain capacity.In addition,nodes in the network can route payments,so that even nodes without a common channel can transact with each other with the assistance of intermediate nodes.Because of the special structure of the payment channel,there are problems such as unbalanced distribution of funds within the channel,which makes the routed payments restricted to some extent.To solve these problems,this paper designs a new payment system based on lightning network.The main research elements are as follows:(1)A multi-path payment scheme supporting proof of payment is proposed on the basis of the original multi-path payment.By adopting a new script as well as a new payment scheme,this scheme accomplishes the support of proof of payment with the guaranteed nature of multi-payment.In addition,the advantages of the new scheme in terms of routing success rate for large payments are verified by simulating the payment process through a simulated network.(2)A new layer of channel network is proposed,located between the blockchain main chain and the micro-payment channel network.The channel network has more flexibility to create micro-payment channels without taking up additional blockchain space and easily transfer locked funds to other sub-channels of the same set of channel networks using only off-blockchain collaboration.Compared with existing systems,this scheme occupies less blockchain space.(3)A commitment transaction that can be applied to watchtower services is proposed.Watchtowers in lightning networks usually monitor tens of thousands of channels,and each channel may handle billions of updates.The new commitment transaction can save an order of magnitude of storage space,which is beneficial to attract more nodes to use the watchtower service and enhance the overall security of the lightning network.