Erlay : efficient transaction relay in Bitcoin
department or school: Science, Faculty of
department or school: Computer Science, Department of
data provider: DSpace
degree campus: UBCV
creator: Naumenko, Hlib
issued: 2019-04-12T17:44:40Z
issued: 2019
related degree: Master of Science - MSc
degree grantor: University of British Columbia
description: Bitcoin is a top-ranked cryptocurrency that has experienced huge growth and survived numerous attacks. The protocols making up Bitcoin must therefore accommodate the growth of the network and ensure security. However, Bitcoin’s transaction dissemination protocol has mostly evaded optimization. This protocol is based on flooding and though it is secure and fault-tolerant, it is also highly inefficient. Specifically, our measurements indicate that 43% of the traffic generated by transaction dissemination in the Bitcoin network is redundant. In this paper we introduce a new transaction dissemination protocol called Erlay. Erlay is a hybrid protocol that combines limited flooding with intermittent reconciliation. We evaluated Erlay in simulation and by implementing and deploying it at scale. Compared to Bitcoin’s current protocols, Erlay reduces the bandwidth used to announce transactions by 84% without significantly affecting privacy or propagation speed. In addition, Erlay retains the existing Bitcoin security guarantees and is more scalable relative to the number of nodes in the network and their connectivity. Erlay is currently being investigated by the Bitcoin community for future use with the Bitcoin protocol.
aggregated CHO: https://circle.library.ubc.ca/rest/handle/2429/69641
note: Erlay: Efficient Transaction Relay in BitcoinbyHlib NaumenkoBachelor in Software Engineering, Kharkiv National University of RadioElectronics, 2017A THESIS SUBMITTED IN PARTIAL FULFILLMENTOF THE REQUIREMENTS FOR THE DEGREE OFMaster of ScienceinTHE FACULTY OF GRADUATE AND POSTDOCTORALSTUDIES(Computer Science)The University of British Columbia(Vancouver)April 2019c© Hlib Naumenko, 2019The following individuals certify that they have read, and recommend to the Fac-ulty of Graduate and Postdoctoral Studies for acceptance, the thesis entitled:Erlay: Efficient Transaction Relay in Bitcoinsubmitted by Hlib Naumenko in partial fulfillment of the requirements for thedegree of Master of Science in Computer Science.Examining Committee:Ivan Beschastnikh, Computer ScienceCo-supervisorAlexandra Fedorova, Electrical and Computer EngineeringCo-supervisorNorm Hutchinson, Computer ScienceSupervisory Committee MemberiiAbstractBitcoin is a top-ranked cryptocurrency that has experienced huge growth and sur-vived numerous attacks. The protocols making up Bitcoin must therefore accom-modate the growth of the network and ensure security. However, Bitcoin’s trans-action dissemination protocol has mostly evaded optimization. This protocol isbased on flooding and though it is secure and fault-tolerant, it is also highly ineffi-cient. Specifically, our measurements indicate that 43% of the traffic generated bytransaction dissemination in the Bitcoin network is redundant.In this thesis we introduce a new transaction dissemination protocol called Er-lay. Erlay is a hybrid protocol that combines limited flooding with intermittent rec-onciliation. We evaluated Erlay in simulation and by implementing and deployingit at scale. Compared to Bitcoin’s current protocols, Erlay reduces the bandwidthused to announce transactions by 84% without significantly affecting privacy orpropagation speed. In addition, Erlay retains the existing Bitcoin security guaran-tees and is more scalable relative to the numbe…
has type: Thesis/Dissertation
date issued: 2019-05
is shown at: 10.14288/1.0378175
language: eng
degree discipline: Computer Science
provider: Vancouver : University of British Columbia Library
publisher: University of British Columbia
rights: Attribution-NonCommercial-NoDerivatives 4.0 International
rights URI: http://creativecommons.org/licenses/by-nc-nd/4.0/
scholar level: Graduate
type: Text
identifier URI: http://hdl.handle.net/2429/69641