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A Bitcoin model for evaluation of clustering to improve propagation delay in Bitcoin network

Research output: Chapter in Book/Report/Conference proceedingConference contribution

Bitcoin is a digital currency based on peer-to-peer network to propagate and verify transactions. Bitcoin differs from traditional currencies in that, it does not rely on a centralised authority. In this paper, we present a simulation model of Bitcoin peer-to-peer network which is an event based simulation. Large scale measurements of the real Bitcoin network are performed in order to enable a precise parameterisation of the presented simulation model. In addition, we perform validation results revealing that the presented simulation model behaves as close as the real Bitcoin network. Based on the developed simulation model, evaluation of our proposed Bitcoin Clustering Based Super Node (BCBSN) protocol as a mechanism to speed up information propagation in Bitcoin network is presented. Evaluation results show that the presented clustering protocol is able to reduce the transaction propagation delay with a reasonable proportion.

Original languageEnglish
Title of host publication2016 IEEE Intl Conference on Computational Science and Engineering (CSE) and IEEE Intl Conference on Embedded and Ubiquitous Computing (EUC) and 15th Intl Symposium on Distributed Computing and Applications for Business Engineering (DCABES)
PublisherInstitute of Electrical and Electronics Engineers Inc.
Pages468-475
Number of pages8
ISBN (Electronic)978-1-5090-3593-9
ISBN (Print)978-1-5090-3594-6
DOIs
Publication statusPublished - 17 Jul 2017
Event2016 IEEE Intl Conference on Computational Science and Engineering (CSE) and IEEE Intl Conference on Embedded and Ubiquitous Computing (EUC) and 15th Intl Symposium on Distributed Computing and Applications for Business Engineering (DCABES) - Paris, France
Duration: 24 Aug 201626 Aug 2016

Conference

Conference2016 IEEE Intl Conference on Computational Science and Engineering (CSE) and IEEE Intl Conference on Embedded and Ubiquitous Computing (EUC) and 15th Intl Symposium on Distributed Computing and Applications for Business Engineering (DCABES)
CountryFrance
CityParis
Period24/08/1626/08/16

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