Information propagation in the Bitcoin network

@article{Decker2013InformationPI,
  title={Information propagation in the Bitcoin network},
  author={Christian Decker and Roger Wattenhofer},
  journal={IEEE P2P 2013 Proceedings},
  year={2013},
  pages={1-10}
}
Bitcoin is a digital currency that unlike traditional currencies does not rely on a centralized authority. Instead Bitcoin relies on a network of volunteers that collectively implement a replicated ledger and verify transactions. In this paper we analyze how Bitcoin uses a multi-hop broadcast to propagate transactions and blocks through the network to update the ledger replicas. We then use the gathered information to verify the conjecture that the propagation delay in the network is the… CONTINUE READING

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