Bitcoin topology
Blockchain can be defined as a distributed shared database generated based on cryptography technology. It maintains a reliable database in a decentralized way: a large number of participators commute through a peer-to-peer P2P network, and the data they generated is digitally signed using cryptography protocols. More importantly, such data will be packed as a block , and appended to a chain of blocks, i. Hence, the blockchain can be viewed a large public ledger maintained collectively on the P2P network based on consensus protocol Antonopoulos The consensus layer is a very unique and fundamental part of the blockchain system, because many consensus protocol have been developed to ensure the sustainability of the system Du et al.
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Content:
- Cryptocurrency Networks: A New P2P Paradigm
- Blockchain Topology
- Bitcoin Transaction Networks: An Overview of Recent Results
- BitcoinHeist: Topological Data Analysis for Ransomware Prediction on the Bitcoin Blockchain
- A percolation model for the emergence of the Bitcoin Lightning Network
- Improving blockchain network layer: topology, broadcast, node discovery, and beyond
Cryptocurrency Networks: A New P2P Paradigm
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Blockchain Topology
There has been an increasing interest in Blockchain systems since Bitcoin was launched in Many different platforms have been proposed, such as Ethereum and Hyperledger. Blockchain systems are usually built on top of peer-to-peer P2P networks, in which information is propagated following broadcast protocols. Although blockchain systems are highly reliant on the propagation of information, the network layer of such systems is not as well explored in academic literature as other layers, such as consensus [1]. A high propagation delay may result in forks, slower consensus, and worse transaction throughput and latency. Therefore, it is important to accelerate information propagation, incentive nodes to relay data as fast as possible, while not creating unnecessary overhead and maintaining the system security.
Bitcoin Transaction Networks: An Overview of Recent Results
Cryptocurrencies like Bitcoin can be analysed because every transaction is traceable. This means that they are an attractive system for physicists to study. In a paper published in EPJ B , Leonardo Ermann from the National Commission for Atomic Energy in Buenos Aires, Argentina, and colleagues from the University of Toulouse, France, have examined the structure of the Bitcoin-owner community by looking at the transactions of this cryptocurrency between and The team's findings reveal that Bitcoin owners are close to an oligarchy with hidden communities whose members are highly interconnected. This research has implications for our understanding of these emerging cryptocurrency communities in our society -- as usual bank transactions are typically deeply hidden from the public eye. They could also be helpful to computer scientists, economists and politicians who could better understand handle them. As part of their study, the authors construct a blueprint of this network -- the so-called Google matrix. It helps them calculate key characteristics of the network, such as PageRank -- known for underlining the Google search engine -- which highlights the influence of ingoing transactions between individual Bitcoin owners. The author also rely on CheiRank, which highlights the influence of outgoing transactions between owners.
BitcoinHeist: Topological Data Analysis for Ransomware Prediction on the Bitcoin Blockchain
Cryptocurrencies have been hailed as one of the greatest technological revolutions of recent years. Bitcoin is the pioneer and best-known of them, but there are hundreds more — each with different characteristics, objectives and technologies behind them to make them work. Readers might think that electronic money already existed long before cryptocurrencies, and they would be right. Bank transfers and credit cards were already using bit chains to transfer money without moving the cash physically.
A percolation model for the emergence of the Bitcoin Lightning Network
P2P networks are the mechanism used by cryptocurrencies to disseminate system information while keeping the whole system as much decentralized as possible. Cryptocurrency P2P networks have new characteristics that propose new challenges and avoid some problems of existing P2P networks. By characterizing the most relevant cryptocurrency network, Bitcoin, we provide details on different properties of cryptocurrency networks and their similarities and differences with standard P2P network paradigms. Our study allows us to conclude that cryptocurrency networks present a new paradigm of P2P networks due to the mechanisms they use to achieve high resilience and security. With this new paradigm, interesting research lines can be further developed, both in the focused field of P2P cryptocurrency networks and also when such networks are combined with other distributed scenarios.
Improving blockchain network layer: topology, broadcast, node discovery, and beyond
Under what circumstances, we can say that a property of a system is robust Robust? If a property is robust, it means that even if the system is affected by external disturbances, no matter how strong or random the impact is, this property can still remain unchanged. In mathematics, the robustness of an object in terms of deformation is called topology. For example, the shapes of the letters s, S, and L belong to the same category in topology. They have the same topology and can be converted to each other by stretching or bending their shapes; the letters o, O, and D belong to another category, while S and This conversion cannot be made between Os, unless O is cut open, or the ends of S are glued together.
This work analyses the evolution of the LN during its first year of existence in order to assess its impact over some of the core fundamentals of Bitcoin, such as: node centralization, resilience against attacks and disruptions, anonymity of users, autonomous coordination of its members. Using a network theory approach, we find that the LN represents a centralized configuration with few highly active nodes playing as hubs in that system. Citation: Martinazzi S, Flori A The evolving topology of the Lightning Network: Centralization, efficiency, robustness, synchronization, and anonymity. This is an open access article distributed under the terms of the Creative Commons Attribution License , which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.
Cryptocurrencies are distributed systems that allow exchanges of native and non- tokens between participants. The availability of the complete historical bookkeeping opens up an unprecedented possibility: that of understanding the evolution of a cryptocurrency's network structure while gaining useful insights into the relationships between users' behavior and cryptocurrency pricing in exchange markets. In this article we review some recent results concerning the structural properties of the Bitcoin Transaction Networks , a generic name referring to a set of three different constructs: the Bitcoin Address Network , the Bitcoin User Network , and the Bitcoin Lightning Network. The picture that emerges is of a system growing over time, which becomes increasingly sparse and whose mesoscopic structural organization is characterized by the presence of an increasingly significant core-periphery structure.
Try out PMC Labs and tell us what you think. Learn More. This work analyses the evolution of the LN during its first year of existence in order to assess its impact over some of the core fundamentals of Bitcoin, such as: node centralization, resilience against attacks and disruptions, anonymity of users, autonomous coordination of its members. Using a network theory approach, we find that the LN represents a centralized configuration with few highly active nodes playing as hubs in that system. Since its inception, Bitcoin has been known as a technology unable to perform a great amount of transactions per unit of time [ 1 ]. Being coded in such a way that on average a single block is mined and added to the blockchain every ten minutes, Bitcoin can perform a maximum of seven transactions per second.
Bitcoin Stack Exchange is a question and answer site for Bitcoin crypto-currency enthusiasts. It only takes a minute to sign up. Connect and share knowledge within a single location that is structured and easy to search. I want to study the properties of the Lightning network graph.
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