The Impact of Blockchain Propagation Time 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 timing analysis in 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 sent to the network and confirmed by a node.
- Block Time: The time between new block creations, currently 6 seconds.
Analysis
In our analysis, we will consider two scenarios:
- Ascending Order: The order of the blockchain in which transactions are added in ascending order. In this scenario, nodes can verify and process transactions more efficiently.
- Descending Orderings: An order in the blockchain where transactions are added in descending order. This is the opposite of ascending order.
Time = t0 analysis
At time “t0”, every 6 seconds have passed since the beginning of the network. Consider two blocks “b1” and “b2”, which were added at “t1” and “t2”.
- Ascending Ordering
: Since both nodes check and process transactions in ascending order, they see each other’s previous block as soon as it is created.
+ Node A sees b1 and checks its validity. If there are no transactions to verify (e.g. a transaction with an empty list), node A waits 6 seconds for the other node to validate the next new block.
- Descending Ordering
: Since nodes check and process transactions in descending order, they must see all previous blocks before validating the current block. This means that nodes have no knowledge of “b1” until they receive “b2”.
+ Node A sees b1, but does not know if there are other operations to check (e.g. an operation with an empty list). If node A has to wait for another node to add or remove transactions, it 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 varies in ascending and descending order. In ascending order, the convergence time is approximately equal to the block time (6 seconds), because nodes check transactions in ascending order.
However, in descending order, the convergence time is significantly longer, because 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 order have different properties when it comes to the efficiency of verifying transactions on the Bitcoin network. Ascending order achieves faster convergence time, while descending order is more efficient in terms of latency. Understanding these differences is crucial for optimizing the development and deployment of Bitcoin-based systems.
References
- [1] “Bitcoin Block Time” (Wikipedia article)
*[2] “Blockchain Spread Timeline” (CryptoSlate article)
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