Research

Simply Dividing a Bitcoin Network Node may Reduce Transaction Verification Time

Year 2015
Author Juan Eduardo Pazmiño & Carlo Kleber da Silva Rodrigues
Publisher The SIJ Transactions on Computer Networks & Communication Engineering (CNCE)
Link View Research Paper
Categories

Bitcoin / Cryptocurrencies

Herein it is proposed a simple competitive analysis to evaluate the benefits of dividing a Bitcoin node according to the number of computers the user has locally available. This division, if cleverly done, may potentially yield shorter transaction verification time and, therefore, a more efficient Bitcoin system. Experiments and theoretic analysis are performed on three Bitcoin organizations, where the two first ones are broadly known in the literature, while the third one results from a baseline algorithm proposed in this work. The final results coming out from the experiments indicate for instance an optimization of at most 71.42% at the verification time, given that the number of divisions is set to five. If this number is set greater, i.e., more divisions (parts) in a node of the network, a even better system performance may be achieved. Lastly, possible ways for future work are included at the end of this article.