1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122
123
124
125
126
127
128
129
130
131
132
133
134
135
136
137
138
139
140
141
142
143
144
145
146
147
148
149
150
151
152
153
154
155
156
157
158
159
160
161
162
163
164
165
166
167
168
169
170
171
172
173
174
175
176
177
178
179
180
181
182
183
184
185
186
187
188
189
190
191
192
193
194
195
196
197
198
199
200
201
202
203
204
205
206
207
208
209
210
211
212
213
214
215
216
217
218
|
Received: from sog-mx-2.v43.ch3.sourceforge.com ([172.29.43.192]
helo=mx.sourceforge.net)
by sfs-ml-4.v29.ch3.sourceforge.com with esmtp (Exim 4.76)
(envelope-from <jonathan.levin@sant.ox.ac.uk>) id 1WoMhw-0003KY-KG
for bitcoin-development@lists.sourceforge.net;
Sun, 25 May 2014 00:54:36 +0000
X-ACL-Warn:
Received: from fallback2.mail.ox.ac.uk ([129.67.1.167])
by sog-mx-2.v43.ch3.sourceforge.com with esmtp (Exim 4.76)
id 1WoMhu-0008OI-P2 for bitcoin-development@lists.sourceforge.net;
Sun, 25 May 2014 00:54:36 +0000
Received: from relay12.mail.ox.ac.uk ([129.67.1.163])
by fallback2.mail.ox.ac.uk with esmtp (Exim 4.80)
(envelope-from <jonathan.levin@sant.ox.ac.uk>) id 1WoLow-000237-7m
for bitcoin-development@lists.sourceforge.net;
Sun, 25 May 2014 00:57:46 +0100
Received: from hub01.nexus.ox.ac.uk ([163.1.154.218]
helo=HUB01.ad.oak.ox.ac.uk)
by relay12.mail.ox.ac.uk with esmtp (Exim 4.80)
(envelope-from <jonathan.levin@sant.ox.ac.uk>) id 1WoLoq-0004x2-eo
for bitcoin-development@lists.sourceforge.net;
Sun, 25 May 2014 00:57:40 +0100
Received: from MBX03.ad.oak.ox.ac.uk ([169.254.3.44]) by HUB01.ad.oak.ox.ac.uk
([163.1.154.92]) with mapi id 14.03.0169.001;
Sun, 25 May 2014 00:57:40 +0100
From: Jonathan Levin <jonathan.levin@sant.ox.ac.uk>
To: "bitcoin-development@lists.sourceforge.net"
<bitcoin-development@lists.sourceforge.net>
Thread-Topic: Cut-through propagation of blocks
Thread-Index: AQHPd6vxYIXrqyO45kqgPDYZ/wCKiw==
Date: Sat, 24 May 2014 23:57:39 +0000
Message-ID: <86C2A90A-6619-45CD-94EC-009456471050@sant.ox.ac.uk>
References: <mailman.177181.1400974908.2207.bitcoin-development@lists.sourceforge.net>
In-Reply-To: <mailman.177181.1400974908.2207.bitcoin-development@lists.sourceforge.net>
Accept-Language: en-GB, en-US
Content-Language: en-US
X-MS-Has-Attach:
X-MS-TNEF-Correlator:
x-originating-ip: [172.16.150.237]
Content-Type: multipart/alternative;
boundary="_000_86C2A90A661945CD94EC009456471050santoxacuk_"
MIME-Version: 1.0
X-Spam-Score: 0.3 (/)
X-Spam-Report: Spam Filtering performed by mx.sourceforge.net.
See http://spamassassin.org/tag/ for more details.
-0.7 RP_MATCHES_RCVD Envelope sender domain matches handover relay
domain 1.0 HTML_MESSAGE BODY: HTML included in message
X-Headers-End: 1WoMhu-0008OI-P2
Subject: Re: [Bitcoin-development] Cut-through propagation of blocks
X-BeenThere: bitcoin-development@lists.sourceforge.net
X-Mailman-Version: 2.1.9
Precedence: list
List-Id: <bitcoin-development.lists.sourceforge.net>
List-Unsubscribe: <https://lists.sourceforge.net/lists/listinfo/bitcoin-development>,
<mailto:bitcoin-development-request@lists.sourceforge.net?subject=unsubscribe>
List-Archive: <http://sourceforge.net/mailarchive/forum.php?forum_name=bitcoin-development>
List-Post: <mailto:bitcoin-development@lists.sourceforge.net>
List-Help: <mailto:bitcoin-development-request@lists.sourceforge.net?subject=help>
List-Subscribe: <https://lists.sourceforge.net/lists/listinfo/bitcoin-development>,
<mailto:bitcoin-development-request@lists.sourceforge.net?subject=subscribe>
X-List-Received-Date: Sun, 25 May 2014 00:54:36 -0000
--_000_86C2A90A661945CD94EC009456471050santoxacuk_
Content-Type: text/plain; charset="us-ascii"
Content-Transfer-Encoding: quoted-printable
I have done some work on incentives arising from block propagation times an=
d it turns out that Bitcoin is already quite good at establishing the prima=
cy of blocks by time despite what people think. Part of the reason for this=
is the way that partitions on the network evolve as a block is propagated.=
Typically at the moment, blocks reach over 50% of the network in 5 seconds=
. Reach being defined as a node receiving and validating a block. If we mak=
e an assumption that the hashing power of the network is uniformly distribu=
ted over the nodes (I know it is not a good assumption but can discuss it o=
ff the list). Then 50% of the hashing power are already building a block th=
at builds on top of the block that is already circulating. The probability =
that there is a collision on the network therefore falls fast and then the =
probability that the miner who propagated the first block wins given a coll=
ision occurs is rising. I think that block propagation times might actually=
be a bigger issue for miners who are less well connected to the network in=
the sense that they spend more time mining redundant problems and during t=
hat time may find blocks to compete with blocks that are already spreading =
throughout the network.
I have a paper that models this more formally and has some numerical simula=
tions but cannot publish it on the internet at present (University Regulati=
ons) but I am happy to share a version privately if anyone is interested.
Best,
Jonathan
--
Jonathan Levin
Co-Founder Coinometrics
http://www.coinometrics.com/
Postgraduate Economist | St Antony's College | Oxford University
@jony_levin
@Coinometrics
--_000_86C2A90A661945CD94EC009456471050santoxacuk_
Content-Type: text/html; charset="us-ascii"
Content-ID: <19CC0F2BD04F494CAFEF4C6E23F7224A@ad.oak.ox.ac.uk>
Content-Transfer-Encoding: quoted-printable
<html>
<head>
<meta http-equiv=3D"Content-Type" content=3D"text/html; charset=3Dus-ascii"=
>
</head>
<body style=3D"word-wrap: break-word; -webkit-nbsp-mode: space; -webkit-lin=
e-break: after-white-space;">
I have done some work on incentives arising from block propagation times an=
d it turns out that Bitcoin is already quite good at establishing the prima=
cy of blocks by time despite what people think. Part of the reason for this=
is the way that partitions on the
network evolve as a block is propagated. Typically at the moment, blocks r=
each over 50% of the network in 5 seconds. Reach being defined as a node re=
ceiving and validating a block. If we make an assumption that the hashing p=
ower of the network is uniformly
distributed over the nodes (I know it is not a good assumption but can dis=
cuss it off the list). Then 50% of the hashing power are already building a=
block that builds on top of the block that is already circulating. The pro=
bability that there is a collision
on the network therefore falls fast and then the probability that the mine=
r who propagated the first block wins given a collision occurs is rising. I=
think that block propagation times might actually be a bigger issue for mi=
ners who are less well connected
to the network in the sense that they spend more time mining redundant pro=
blems and during that time may find blocks to compete with blocks that are =
already spreading throughout the network.
<div><br>
</div>
<div>I have a paper that models this more formally and has some numerical s=
imulations but cannot publish it on the internet at present (University Reg=
ulations) but I am happy to share a version privately if anyone is interest=
ed.</div>
<div><br>
</div>
<div>Best,</div>
<div><br>
</div>
<div>Jonathan</div>
<div><br>
</div>
<div apple-content-edited=3D"true">
<div style=3D"color: rgb(0, 0, 0); font-family: Avenir; font-size: 11px; fo=
nt-style: normal; font-variant: normal; font-weight: normal; letter-spacing=
: normal; line-height: normal; orphans: auto; text-align: start; text-inden=
t: 0px; text-transform: none; white-space: normal; widows: auto; word-spaci=
ng: 0px; -webkit-text-stroke-width: 0px; word-wrap: break-word; -webkit-nbs=
p-mode: space; -webkit-line-break: after-white-space;">
<div style=3D"color: rgb(0, 0, 0); letter-spacing: normal; orphans: auto; t=
ext-align: start; text-indent: 0px; text-transform: none; white-space: norm=
al; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; word-w=
rap: break-word; -webkit-nbsp-mode: space; -webkit-line-break: after-white-=
space;">
<div style=3D"color: rgb(0, 0, 0); font-family: Avenir; font-size: 11px; fo=
nt-style: normal; font-variant: normal; letter-spacing: normal; line-height=
: normal; orphans: auto; text-align: start; text-indent: 0px; text-transfor=
m: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text=
-stroke-width: 0px;">
--</div>
<div style=3D"font-weight: normal; color: rgb(0, 0, 0); font-family: Avenir=
; font-size: 11px; font-style: normal; font-variant: normal; letter-spacing=
: normal; line-height: normal; orphans: auto; text-align: start; text-inden=
t: 0px; text-transform: none; white-space: normal; widows: auto; word-spaci=
ng: 0px; -webkit-text-stroke-width: 0px;">
<b>Jonathan Levin</b></div>
<div style=3D"font-weight: normal; color: rgb(0, 0, 0); font-family: Avenir=
; font-size: 11px; font-style: normal; font-variant: normal; letter-spacing=
: normal; line-height: normal; orphans: auto; text-align: start; text-inden=
t: 0px; text-transform: none; white-space: normal; widows: auto; word-spaci=
ng: 0px; -webkit-text-stroke-width: 0px;">
Co-Founder Coinometrics</div>
<div style=3D"font-weight: normal; color: rgb(0, 0, 0); font-family: Avenir=
; font-size: 11px; font-style: normal; font-variant: normal; letter-spacing=
: normal; line-height: normal; orphans: auto; text-align: start; text-inden=
t: 0px; text-transform: none; white-space: normal; widows: auto; word-spaci=
ng: 0px; -webkit-text-stroke-width: 0px;">
<a href=3D"http://www.coinometrics.com/">http://www.coinometrics.com/</a></=
div>
<div style=3D"font-weight: normal; color: rgb(0, 0, 0); font-family: Avenir=
; font-size: 11px; font-style: normal; font-variant: normal; letter-spacing=
: normal; line-height: normal; orphans: auto; text-align: start; text-inden=
t: 0px; text-transform: none; white-space: normal; widows: auto; word-spaci=
ng: 0px; -webkit-text-stroke-width: 0px;">
Postgraduate Economist | St Antony's College | Oxford University<br>
@jony_levin</div>
<div style=3D"font-weight: normal; color: rgb(0, 0, 0); font-family: Avenir=
; font-size: 11px; font-style: normal; font-variant: normal; letter-spacing=
: normal; line-height: normal; orphans: auto; text-align: start; text-inden=
t: 0px; text-transform: none; white-space: normal; widows: auto; word-spaci=
ng: 0px; -webkit-text-stroke-width: 0px;">
@Coinometrics<br>
<br>
</div>
</div>
</div>
<br class=3D"Apple-interchange-newline" style=3D"color: rgb(0, 0, 0); font-=
family: Avenir; font-size: 11px; font-style: normal; font-variant: normal; =
font-weight: normal; letter-spacing: normal; line-height: normal; orphans: =
auto; text-align: start; text-indent: 0px; text-transform: none; white-spac=
e: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px;=
">
<br>
</div>
<br>
</body>
</html>
--_000_86C2A90A661945CD94EC009456471050santoxacuk_--
|
