Revive – a competitor or addition to the Lightning Network
Computer scientists at the Swiss Higher Technical School of Zurich have found a way to make non-blockchain transactions even more scalable.
The basis of this work is a long-term discussion regarding the scaling of Bitcoin, which boils down to the fact that the Bitcoin network, like all other cryptocurrencies today has limited bandwidth. To get around this limitation, networks of payment channels were created that take transactions outside the blockchain, for example, the Lightning Network, first proposed in 2015.
However, researchers Rami Khalil and Arthur Gervais believe that payment systems such as the Lightning Network are underdeveloped and have proposed the Revive payment channel model, an idea that will allow you to use long-life payment channels that are still Interact less with the blockchain.
“Except in controversial cases (similar to regular payment channels), our solution does not require transactions within the network and therefore increases the scalability of the existing blockchain.”
In fact, Revive allows users to safely transfer money from one channel to another outside the blockchain, which is its main difference from the Lightning Network model.
Networks like Lightning need to use transactions within the blockchain (accompanied by fees) to establish and close payment channels. Users with multiple open channels can usually “change the balance” of a channel only with a transaction within the network every time bitcoins run out in the channel.
Revive, on the other hand, allows you to send money from one channel to another, without the help of network transactions.
“Thus, instead of depositing new funds to the channel through expensive transactions within the network, the user should be able to use their existing channels to“ change the balance ”of the channel in which the funds end,” the document explains.
This change may seem very insignificant, however, each optimization matters, especially at a time when fees for on-net payments are getting higher (and can become even more expensive if cryptocurrencies become even more popular).
Researchers claim that Revive can be used for any project such as the Lightning Network, on any blockchain, including Raiden Network, the Ethereum payment channel model that is currently under development and where researchers released a proof-of-concept for Revive.