A Tale of Two Layers: The Mutual Relationship between Bitcoin and Lightning Network

Martinazzi, Stefano; Regoli, Daniele; Flori, Andrea

doi:10.3390/risks8040129

Cited by 3 publications

(1 citation statement)

References 81 publications

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“…[70] introduce supernodes and supernode-based pooling to improve micropayment scalability and liquidation. In [71], the authors analyze the relationship between Bitcoin market conditions and the efficiency of the LN, finding that its functioning is not significantly influenced by the underlying cryptocurrency's market performance. Finally, in [72] the authors find that payment attempt failures are more frequent in the LN due to the convergence delay.…”

Section: Performance and Optimizationmentioning

confidence: 99%

A Review of the Lightning Network’s Evolution: Unraveling Its Present State and the Emergence of Disruptive Digital Business Models

Dasaklis,

Malamas

2023

JTAER

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The Lightning Network (LN), a second-layer protocol built on top of the Bitcoin blockchain, is an innovative digital payment solution that offers increased convenience, speed, and cost-effectiveness to consumers and businesses alike. However, there is limited literature available on the characteristics of this nascent technology, the depth and breadth of the various business LN-related applications as well as relevant adoption/implementation challenges. This study aims to contribute to the understanding of the LN’s characteristics, its potential in enhancing business operations and its applicability across different sectors, while taking into account adoption and implementation challenges. We apply a narrative review methodology using a semi-systematic approach to examine new and emerging business models empowered by the LN and its characteristics, topology, performance, privacy and security. We analyze the data to identify key themes and trends in the literature, offering a critical analysis of the strengths and weaknesses of the existing literature. Based on the findings, we provide several clusters of fruitful areas for future research directions. This study not only provides crucial insights for businesses contemplating the adoption of LN to improve their operations and customer experience, but it also represents a substantial academic contribution, offering valuable knowledge and fostering further research in the fields of blockchain technology, FinTech and cryptocurrencies.

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Section: Performance and Optimizationmentioning

confidence: 99%

A Review of the Lightning Network’s Evolution: Unraveling Its Present State and the Emergence of Disruptive Digital Business Models

Dasaklis,

Malamas

2023

JTAER

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The Association of Economic Growth, Foreign Aid, Foreign Direct Investment and Gross Capital Formation in Indonesia: Evidence from the Toda–Yamamoto Approach

Sijabat

2022

Economies

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This study examines the direction of causality between Gross Domestic Product, foreign aid, foreign direct investment, and gross capital formation in Indonesia from 1970 to 2019, using the augmented Toda–Yamamoto approach with the Granger causality test. Furthermore, this study achieved the unit root test for both variables using the ADF test, which confirmed that the variables studied were cointegrated and had a prolonged equilibrium relationship with GDP, ODA, FDI, and GCA. The Toda–Yamamoto causality test was used to investigate the direction of causality between variables. The results showed a positive one-way causality between ODA and GDP as well as between FDI and GDP. ODA has promoted the expansion of economic and development activities, thereby leading to GDP in Indonesia. However, despite having a long-run relationship, the study failed to prove a causal relationship between ODA and GCA in Indonesia. Therefore, there is a need for more optimal foreign aid management to attract foreign direct investment.

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An Analysis of the Causality Relationship Between Bitcoin Electricity Consumption, Price and Volume

Söylemez

Gürsoy

2022

Journal of Research in Business

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Bu çalışma fiyat ve işlem hacmi açısından kripto para piyasasının en önemli enstrümanı olan Bitcoin’in elektrik tüketimi ile fiyatı ve işlem hacmi arasındaki nedensellik ilişkisini analiz etmeyi amaçlamaktadır. Çalışmada Bitcoin elektrik tüketimi değişkeni Cambridge Bitcoin Elektrik Tüketim Endeksi ile temsil edilmektedir. Araştırmada Şubat 2017 ile Şubat 2021 tarihleri arasındaki 1446 günlük veri seti kullanılmıştır. Değişkenler arasındaki nedensellik ilişkisi Hatemi-J (2012) ve Toda Yamamoto (1995) testleri kullanılarak analiz edilmiştir. Ayrıca bu çalışma, Schinckus vd. (2020) tarafından yapılan çalışma ile birlikte Bitcoin elektrik tüketimi ile işlem hacmi asrasındaki ilişkiyi inceleyen ender çalışmalardan biridir. Bu çalışmanın sonuçlarına göre Bitcoin elektrik tüketimindeki düşüş Bitcoin fiyatında düşüşe neden olmaktadır. Ancak bu çalışmada Schinckus vd. (2020) tarafından yapılan çalışmaya benzer olarak zayıf ama negatif bir ilişki tespit edilmiştir.

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A Tale of Two Layers: The Mutual Relationship between Bitcoin and Lightning Network

Cited by 3 publications

References 81 publications

A Review of the Lightning Network’s Evolution: Unraveling Its Present State and the Emergence of Disruptive Digital Business Models

A Review of the Lightning Network’s Evolution: Unraveling Its Present State and the Emergence of Disruptive Digital Business Models

The Association of Economic Growth, Foreign Aid, Foreign Direct Investment and Gross Capital Formation in Indonesia: Evidence from the Toda–Yamamoto Approach

An Analysis of the Causality Relationship Between Bitcoin Electricity Consumption, Price and Volume

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