Journal
Publisher
IEEE
DOI: 10.1109/iThings-GreenCom-CPSCom-SmartData-Cybermatics53846.2021.00063
Keywords
bitcoin blockchain; networking protocol; cut-through forwarding
Categories
Funding
- Tencent Rhinoceros Birds Scientific Research Foundation for Young Teachers of Shenzhen University
- Natural Science Fund of Guangdong Province [2020A1515010708]
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The research team developed and validated a new block propagation protocol to increase the transaction processing speed of the Bitcoin blockchain. By improving the compact-block relaying protocol, they were able to increase Bitcoin blockchain's TPS by 100 times without compromising security and consensus-building.
We design and validate a new block propagation protocol for the peer-to-peer (P2P) network of the Bitcoin blockchain. Despite its strong protection for security and privacy, the current Bitcoin blockchain can only support a low number of transactions per second (TPS). In this work, we redesign the current Bitcoin's networking protocol to increase TPS without changing vital components in its consensus-building protocol. In particular, we improve the compact-block relaying protocol to enable the propagation of blocks containing a massive number of transactions without inducing extra propagation latency. This improvement is achieved by replacing the existing store-and-forward compact-block relaying scheme with a cut-through compact-block relaying scheme. Since our protocol only needs to rework the current Bitcoin's networking protocol and does not modify the data structures and crypto-functional components, it can be seamlessly incorporated into the existing Bitcoin blockchain. To validate our design, we implement a Bitcoin network simulator on Network Simulator3 (NS-3) to run different block propagation protocols. The experimental results confirm that our new block propagation protocol could increase the TPS of the Bitcoin blockchain by 100x without compromising security and consensus-building.
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