The Lightning Network: Turning Bitcoin into money

【Author】 Divakaruni, Anantha; Zimmerman, Peter

【Source】FINANCE RESEARCH LETTERS

【影响因子】9.848

【Abstract】The Lightning Network (LN) is a means of netting Bitcoin payments outside the blockchain. We find a significant association between LN adoption and reduced blockchain congestion, suggesting that the LN has helped improve the efficiency of Bitcoin as a means of payment. This improvement cannot be explained by other factors, such as changes in demand or the adoption of SegWit. We find mixed evidence on whether increased centralization in the Lightning Network has improved its efficiency. Our findings have implications for the future of cryptocurrencies as a means of payment and their environmental footprint.

【Keywords】Bitcoin; Blockchain; Cryptocurrency; Lightning Network; Payments

【发表时间】2023 MAR

【收录时间】2023-03-07

【文献类型】理论模型

【主题类别】

区块链应用-虚拟经济-虚拟货币