Speeding up block propagation in Bitcoin network: Uncoded and coded designs

Zhang, Lihao; Wang, Taotao; Liew, Soung Chang

doi:10.1016/j.comnet.2022.108791

Cited by 23 publications

(8 citation statements)

References 16 publications

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“…Considering 210 bytes for a Bitcoin P2PKH (Pay to Public Key Hash) transaction [20], a blockchain with a maximum block size of 10 MB can include about B = 50000 transactions. Assuming an average of λ = 7 transactions per second [21] and an average block mining time τ, of 10 minutes, we have λτ = 5000. Figure 5 shows the probability, π i , of i transactions in the queue, obtained using (12) for λτ = 5000, D = 4500, and B = 50000.…”

Section: Numerical Resultsmentioning

confidence: 99%

A Mining Strategy for Minimizing Waiting Time in Blockchains for Time-Sensitive Applications

Ramezan

Leung

Miao

2022

Wireless Communications and Mobile Computing

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Blockchain, as proposed in Bitcoin, focuses on securing financial transactions. However, in recent years, the use of blockchain has expanded to a wide range of networks and application domains. This includes time-sensitive applications which need transactions to be processed fast enough to meet delay requirements. Reducing the transaction waiting time in the mining process is key to the successful adoption of blockchain in such applications. In this paper, we propose a mining strategy that is aimed at minimizing the average waiting time per transaction by ensuring a certain minimum required block size, based on the average transaction arrival rate, mining service rate, and maximum block size. We derive an expression for the average transaction waiting time of the proposed mining strategy and determine the optimal mining rule. Numerical results show that the average waiting time per transaction can be reduced by up to 15 % using the proposed mining strategy compared to the traditional strategy in which miners immediately start the next mining round using the transactions already waiting in the pool.

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Section: Numerical Resultsmentioning

confidence: 99%

A Mining Strategy for Minimizing Waiting Time in Blockchains for Time-Sensitive Applications

Ramezan

Leung

Miao

2022

Wireless Communications and Mobile Computing

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“…It will, therefore, not scale well with an increase in transactions. Zhang et al [97] proposed a similar approach, although not in a clustered network. Cebe et al [98] also used a coding technique to minimize the size of blocks before it is transmitted to other peers in the network.…”

Section: Data Layermentioning

confidence: 99%

A Survey on Network Optimization Techniques for Blockchain Systems

et al. 2022

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The increase of the Internet of Things (IoT) calls for secure solutions for industrial applications. The security of IoT can be potentially improved by blockchain. However, blockchain technology suffers scalability issues which hinders integration with IoT. Solutions to blockchain’s scalability issues, such as minimizing the computational complexity of consensus algorithms or blockchain storage requirements, have received attention. However, to realize the full potential of blockchain in IoT, the inefficiencies of its inter-peer communication must also be addressed. For example, blockchain uses a flooding technique to share blocks, resulting in duplicates and inefficient bandwidth usage. Moreover, blockchain peers use a random neighbor selection (RNS) technique to decide on other peers with whom to exchange blockchain data. As a result, the peer-to-peer (P2P) topology formation limits the effective achievable throughput. This paper provides a survey on the state-of-the-art network structures and communication mechanisms used in blockchain and establishes the need for network-based optimization. Additionally, it discusses the blockchain architecture and its layers categorizes existing literature into the layers and provides a survey on the state-of-the-art optimization frameworks, analyzing their effectiveness and ability to scale. Finally, this paper presents recommendations for future work.

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“…Since the data consistency of blockchain relies on the network-wide broadcast of blocks, the block propagation speed on the network determines the performance limit of blockchain [28]. Investigations in [8,[29][30][31]proposed to decrease the block propagation time by redesigning the block propagation protocol. Also, several works advocated building new network infrastructures to speed up block propagation.…”

Section: Related Workmentioning

confidence: 99%

Bodyless Block Propagation: TPS Fully Scalable Blockchain with Pre-Validation

Zhao¹,

Zhang²,

Wang³

et al. 2022

Preprint

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The fundamental tradeoff between transaction per second (TPS) and security in blockchain systems persists despite numerous prior attempts to boost TPS. To increase TPS without compromising security, we propose a bodyless block propagation (BBP) scheme for which the block body is not validated and transmitted during the block propagation process. Rather, the nodes in the blockchain network anticipate the transactions and their ordering in the next upcoming block so that these transactions can be pre-executed and pre-validated before the birth of the block. It is critical, however, all nodes have a consensus on the transaction content of the next block.This paper puts forth a transaction selection, ordering, and synchronization algorithm to drive the nodes to reach such a consensus. Yet, the coinbase address of the miner of the next block cannot be anticipated, and therefore transactions that depend on the coinbase address cannot be pre-executed and prevalidated. This paper further puts forth an algorithm to deal with such unresolvable transactions for an overall consistent and TPS-efficient scheme. With our scheme, most transactions do not need to be validated and transmitted during block propagation, ridding the dependence of propagation time on the number of transactions in the block, and making the system fully TPS scalable. Experimental results show that our protocol can reduce propagation time by 4x with respect to the current Ethereum blockchain, and its TPS performance is limited by the node hardware performance rather than block propagation.

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Speeding up block propagation in Bitcoin network: Uncoded and coded designs

Cited by 23 publications

References 16 publications

A Mining Strategy for Minimizing Waiting Time in Blockchains for Time-Sensitive Applications

A Mining Strategy for Minimizing Waiting Time in Blockchains for Time-Sensitive Applications

A Survey on Network Optimization Techniques for Blockchain Systems

Bodyless Block Propagation: TPS Fully Scalable Blockchain with Pre-Validation

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