Optimal Transaction Throughput in Proof-of-Work Based Blockchain Networks

Clicks: 174
ID: 101867
2019
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Abstract
As of today, Bitcoin suffers with restrictive transaction throughput of 3−7 transactions per sec and the transaction confirmation takes several min as bitcoin blockchain was designed with a block creation time of 10 min and each block is restricted with less blocksize for fast transmission. In this paper, we obtained the optimal transaction throughput for a Proof-of-Work (PoW) based longest chain rule blockchain network (called bitcoin protocol). This is done by modeling the delay diameter (D) and double spending attack in a Erd o ¨ s-R e ´ nyi random network topology as constraints. Through numerical results, it is shown that the throughput can be significatly improved without compromising the fairness of the network.
Reference Key
reddy2019optimalproceedings Use this key to autocite in the manuscript while using SciMatic Manuscript Manager or Thesis Manager
Authors Reddy, B. Swaroopa;Sharma, G. V. V.;
Journal proceedings
Year 2019
DOI
DOI not found
URL
https://www.mdpi.com/2504-3900/28/1/6
Keywords
Medicine (General) Science general works business economics as a science economic history and conditions economic theory. demography law computer engineering. computer hardware industrial engineering. management engineering law in general. comparative and uniform law. jurisprudence international relations

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