End-to-End Latency Analysis and Optimal Block Size of Proof-of-Work Blockchain Applications
Por:
Wilhelmi, F, Barrachina-Muñoz, S, Dini, P
Publicada:
1 oct 2022
Ahead of Print:
1 ene 2022
Resumen:
Due to the increasing interest in blockchain technology for fostering secure, auditable, decentralized applications, a set of challenges associated with this technology need to be addressed. In this letter, we focus on the delay associated with Proof-of-Work (PoW)-based blockchains, whereby participants validate the new information to be appended to a distributed ledger via consensus to confirm transactions. We propose a novel end-to-end latency model based on batch-service queuing theory that characterizes timers and forks for the first time. Furthermore, we derive an estimation of the optimal block size analytically. Endorsed by analytical and simulation results, we show that the optimal block size approximation is a consistent method that leads to close-to-optimal performance by significantly reducing the overheads associated with blockchain applications.
Filiaciones:
Wilhelmi, F:
Centre Tecnolò
Barrachina-Muñoz, S:
Centre Tecnolò
Dini, P:
Centre Tecnolò
Green Submitted, All Open Access; Green Open Access
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