Cryptocurrencies redefined how money can be stored and transferred among users.
However, independent of the amount being sent, public blockchain-based cryptocurrencies
suffer from high transaction waiting times and fees. These drawbacks hinder the wide use of
cryptocurrencies by masses. To address these challenges, payment channel network
concept is touted as the most viable solution to be used for micro-payments. The idea is
exchanging the ownership of money by keeping the state of the accounts locally. The users …