Abstract
The delay overhead of transaction verification in Bitcoin, a peer-to-peer electronic currency system, is a complicated issue which makes the system vulnerable to double spend attacks. In this paper, we propose a new approach, that is based on how the clusters are formulated and the nodes define their membership, to improve the transaction propagation delay in the Bitcoin network. In this approach, the locality of connectivity in the Bitcoin network is increased by grouping Bitcoin nodes based on their geographical location. We show, through simulations, that location based-distance better defines clustering structures that optimize the performance of the transaction propagation delay. A key reason behind this improvement is mainly due to the reduction of the communication link cost measured by the distance between nodes. Compared to the existing clustering protocol (BCBSN) that we proposed in our previous work, location based clustering is more effective at reducing the transaction propagation delay.
Original language | English |
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Title of host publication | Proceedings of the IM 2017 - 2017 IFIP/IEEE International Symposium on Integrated Network and Service Management |
Editors | Prosper Chemouil, Paulo Simoes, Edmundo Madeira, Stefano Secci, Edmundo Monteiro, Luciano Paschoal Gaspary, Carlos Raniery P. dos Santos, Marinos Charalambides |
Publisher | Institute of Electrical and Electronics Engineers Inc. |
Pages | 556-559 |
Number of pages | 4 |
ISBN (Electronic) | 978-3-901882-89-0 |
ISBN (Print) | 978-1-5090-5658-3 |
DOIs | |
Publication status | Published - 20 Jul 2017 |
Event | 2017 IFIP/IEEE Symposium on Integrated Network and Service Management - Lisbon, Portugal, Lisbon, Portugal Duration: 8 May 2017 → 12 May 2017 |
Conference
Conference | 2017 IFIP/IEEE Symposium on Integrated Network and Service Management |
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Abbreviated title | IM |
Country/Territory | Portugal |
City | Lisbon |
Period | 8/05/17 → 12/05/17 |