Modeling and analysis of block arrival times in the Bitcoin blockchain

【Author】 Bowden, R.; Keeler, H. P.; Krzesinski, A. E.; Taylor, P. G.

【Source】STOCHASTIC MODELS

【影响因子】0.613

【Abstract】In the original Bitcoin paper and other research papers since, it is assumed that Bitcoin blocks are mined at the instants of a homogeneous Poisson process. Based on blockchain block arrival data and stochastic analysis of the block arrival process, we demonstrate that this is not the case. We present a framework for studying the block arrival process, including two refined mathematical models for block arrivals, determined by combining models for a period of constant difficulty and how the difficulty evolves over time.

【Keywords】Bitcoin blockchain; block mining model; hash rate; mining difficulty adjustment; Poisson process

【发表时间】2020 1-Oct

【收录时间】2022-01-02

【文献类型】

【主题类别】

--