Ethereum Compatible Faster Atomic Payment Splitting Network

Abstract

The major challenge is the scalability issue, which the second layer of blockchain must solve. But the transfer of micro-payment creates another problem: node idleness due to the insufficient channel balance. So that we aim to implement an atomic payment splitting network using the ethereum blockchain, which can transfer the micro-payments quickly in different paths from sender to receiver. It is the first Ethereum-based atomic payment splitting model. This model works faster than other Bitcoin-based models, and smart contracts make it easier with the help of random seeds. Again the payment splitting decreases the node idleness. The significant challenges in Bitcoin lightning-based networks are intermediary insecurity and flood, and loot attack is not happening in our system that of the random seed and smart contracts. Our resultant model guarantees that the honest intermediaries have not lost funds, and the payment split network is not a failure after the path confirmation. Using negative acknowledgment also ensures the payment’s failure in the model’s initial phase. The final payment confirmation happens only by receiving all the unique seeds within the ∆ time. The proposed model has been analyzed with different existing models, and the success ratio is better.