Blockchain Propagation Time Impact on Bitcoin Block Time Analysis

Bitcoin block time is a crucial factor in understanding the overall speed and efficiency of the network. In this article, we will examine the impact of blockchain propagation time on block time analysis for both ascending and descending block order.

Assumptions

Before diving into the analysis, let’s take two key parameters:

• Network Propagation Time: The average time it takes for a transaction to be transmitted to the network and confirmed by a node.

• Block Time: The interval between new block creations, currently set at 6 seconds.

Analysis

In our analysis, we will consider two scenarios:

• Ascending Orderings

  : A blockchain order where transactions are inserted in ascending order. In this scenario, nodes can verify and process transactions more efficiently.

• Descending Orderings

  : A blockchain order where transactions are inserted in descending order. This is the opposite of ascending order.

Time = t0 Analysis

At time « t0 » every 6 seconds have passed since the network started. Let’s consider two blocks « b1 » and « b2 » that were inserted at « t1 » and « t2 » respectively.

• Ascending order: Since both nodes verify and process transactions in ascending order, they can see each other’s previous block as soon as it is created.

+ Node A sees b1 and verifies its validity. If there are no transactions to verify (e.g., a transaction with an empty list), node A will wait 6 seconds for the next new block to be validated by another node.

• Descending order: Since nodes verify and process transactions in descending order, they must see all previous blocks before verifying the current one. This means that nodes will have no information about « b1 » until they receive « b2 ».

+ Node A sees b1, but does not know if there are any other transactions that need to be verified (e.g., a transaction with an empty list). If node A has to wait for another node to add or delete transactions, this can take up to 6 seconds.

Convergence Time

Continuing the analysis over time, we can see that the convergence time between “t0” and subsequent blocks will vary in ascending and descending order. In ascending order, the convergence time is approximately equal to the block time (6 seconds), since nodes verify transactions in ascending order.

However, in descending order, the convergence time will be significantly longer, since nodes have to wait for all previous transactions before confirming a new one. This can significantly increase the average transaction processing time.

Conclusion

In summary, the analysis of block time and propagation time reveals that both ascending and descending orders have different properties when it comes to the efficiency of transaction verification in the Bitcoin network. Ascending order achieves faster convergence times, while descending order is more efficient in terms of latency. Understanding these differences is crucial for optimizing the design and implementation of Bitcoin-based systems.

References

• [1] « Bitcoin block time » (Wikipedia article)

• [2] « Blockchain propagation time » (CryptoSlate article)