An empirical comparison of the security and performance characteristics of topology formation algorithms for Bitcoin networks

There is an increasing demand for digital crypto-currencies to be more secure and robust meet the following business requirements: (1) low transaction fees (2) privacy of users. Nowadays, Bitcoin gaining traction wide adoption. Many well-known businesses have begun accepting bitcoins as a means making financial payments. However, susceptibility networks information propagation delay, increases vulnerability attack network, decreases its throughput performance. This paper introduces critically analyses new network clustering methods, named Locality Based Clustering (LBC), Ping Time Approach (PTBC), Super Node (SNBA), Master (MNBC). The proposed methods aim decrease chances performing successful double spending by reducing delay Bitcoin. These embody proximity-aware extensions standard protocol, where proximity measured geographically in terms latency. We validate our through set simulation experiments findings show how run their impact optimising delay. Furthermore, these are evaluated from perspective network’s resistance partitioning attacks. Numerical results, which established via extensive experiments, demonstrate also draw on suggest promising future research directions optimisation delays.