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| Presentation | 2020-03-05 10:10 Effects of Relay Networks in Bitcoin Kai Otsuki, Kazuyuki Shudo, Ryohei Banno (TIT)  NS2019-192 |
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| Abstract | (in Japanese) | (See Japanese page) |
| (in English) | Bitcoin's throughput falls greatly behind that of centralized systems such as Visa and PayPal. Its throughput must be improved for Bitcoin to handle the comparable number of transactions. It is known that block propagation time improvement is necessary if there is to be substantial improvement in throughput. Relay networks have been attracting attention as a method to improve throughput. However, it is not yet clear what kind of effects relay networks have or how strong these effects are. In particular, the effects on individual nodes have received little attention. Thus, this study aims at investigating the effects of relay networks on the Bitcoin network and its nodes under the current network state in approximately 2019. We simulated a relay network under the current network state because simulation was virtually the only way to obtain data for all the nodes. A major contribution of this study is its investigation of the relay network effect on the 90th percentile of block propagation time; to our knowledge, this is the first such investigation. Moreover, this study shows that relay networks benefit not only the system but also the nodes utilizing them. It was observed that the utilizing nodes were significantly less likely to produce orphan blocks than the non-utilizing nodes. This finding can motivate nodes to utilize relay networks. |
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| Keyword | (in Japanese) | (See Japanese page) |
| (in English) | Bitcoin / Blockchain / Relay network / / / / / | |
| Reference Info. | IEICE Tech. Rep., vol. 119, no. 460, NS2019-192, pp. 89-94, March 2020. | |
| Paper # | NS2019-192 | |
| Date of Issue | 2020-02-27 (NS) | |
| ISSN | Online edition: ISSN 2432-6380 | |
| Copyright and reproduction |
All rights are reserved and no part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording, or any information storage and retrieval system, without permission in writing from the publisher. Notwithstanding, instructors are permitted to photocopy isolated articles for noncommercial classroom use without fee. (License No.: 10GA0019/12GB0052/13GB0056/17GB0034/18GB0034) | |
| Download PDF | NS2019-192 |
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| Conference Information | |
| Committee | NS IN |
| Conference Date | 2020-03-05 - 2020-03-06 |
| Place (in Japanese) | (See Japanese page) |
| Place (in English) | Royal Hotel Okinawa Zanpa-Misaki |
| Topics (in Japanese) | (See Japanese page) |
| Topics (in English) | General |
| Paper Information | |
| Registration To | NS |
| Conference Code | 2020-03-NS-IN |
| Language | Japanese |
| Title (in Japanese) | (See Japanese page) |
| Sub Title (in Japanese) | (See Japanese page) |
| Title (in English) | Effects of Relay Networks in Bitcoin |
| Sub Title (in English) | |
| Keyword(1) | Bitcoin |
| Keyword(2) | Blockchain |
| Keyword(3) | Relay network |
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| 1st Author's Name | Kai Otsuki |
| 1st Author's Affiliation | Tokyo Institute of Technology (TIT) |
| 2nd Author's Name | Kazuyuki Shudo |
| 2nd Author's Affiliation | Tokyo Institute of Technology (TIT) |
| 3rd Author's Name | Ryohei Banno |
| 3rd Author's Affiliation | Tokyo Institute of Technology (TIT) |
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| Speaker | Author-1 |
| Date Time | 2020-03-05 10:10:00 |
| Presentation Time | 20 minutes |
| Registration for | NS |
| Paper # | NS2019-192 |
| Volume (vol) | vol.119 |
| Number (no) | no.460 |
| Page | pp.89-94 |
| #Pages | 6 |
| Date of Issue | 2020-02-27 (NS) |
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