Simulation of the Bitcoin Network Considering Compact Block Relay and Internet Improvements
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Improving transaction throughput is an important challenge for Bitcoin. However, shortening the block generation interval or increasing the block size to improve throughput makes it sharing blocks within the network slower and increases the number of orphan blocks. Consequently, the security of the blockchain is sacrificed. To mitigate this, it is necessary to reduce the block propagation delay. Because of the contribution of new Bitcoin protocols and evolution of the Internet, the block propagation delay in the Bitcoin network has been shortened in recent years. In this study, we measure the block propagation delay on the Bitcoin network using a simulator, and investigate the effect of compact block relay—an up-to-date Bitcoin protocol—and Internet improvements from 2015 to 2019. The experimental results reveal that the block propagation delay is reduced by 64.5 90th percentile due to Internet improvements, and by 90.1 percentile and by 87.6
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