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Devices connected to the Internet today have a wide range of localcommunication channels available, such as wireless Wifi, Bluetooth or NFC, aswell as wired backhaul. In densely populated areas it is possible to createheterogeneous, multihop communication paths using a combination of thesetechnologies, and often transmit data with lower latency than via a wiredInternet connection. However, the potential for sharing meshed wireless radiosin this way has never been realised due to the lack of economic incentives todo so on the part of individual nodes.  In this paper, we explore how virtual currencies such as Bitcoin might beused to provide an end-to-end incentive scheme to convince forwarding nodesthat it is profitable to send packets on via the lowest latency mechanismavailable. Clients inject a small amount of money to transmit a datagram, andforwarding engines compete to solve a time-locked puzzle that can be claimed bythe node that delivers the result in the lowest latency. This approachnaturally extends congestion control techniques to a surge pricing model whenavailable bandwidth is low. We conclude by discussing several latency-sensitiveapplications that would benefit for this, such as video streaming and localaugmented reality systems.

Kadupul: Livin' on the Edge with Virtual Currencies and Time-Locked Puzzles