Traversing Bitcoin's P2P network: insights into the structure of a decentralised currency
by Sebastian Feld; Mirco Schönfeld; Martin Werner
International Journal of Computational Science and Engineering (IJCSE), Vol. 13, No. 2, 2016

Abstract: Lots of existing work addresses the analysis of Bitcoin's publicly available transaction graph. There are evaluations of the user's anonymity and privacy, but no proper measurements of the underlying network. This paper presents novel insights about Bitcoin's P2P network, with a focus on the distribution among autonomous systems. The resilience of Bitcoin's ecosystem, the unambiguousness of the blockchain, the propagation and verification of transaction blocks, but also the anonymity of Bitcoin's users depend on the structure of the global network. Our work is the first thorough analysis of Bitcoin's underlying network, especially with regard to its distribution at autonomous system level. We traversed Bitcoin's network and made statements about the size of the accessible network and the number of clients. Further, we investigated the network's distribution on autonomous systems. Finally, we analysed the mechanism to announce known peers. It turns out that Bitcoin's peer announcement is not well-distributed, affecting information propagation.

Online publication date:: Fri, 19-Aug-2016

The full text of this article is only available to individual subscribers or to users at subscribing institutions.

Existing subscribers:
Go to Inderscience Online Journals to access the Full Text of this article.

Pay per view:
If you are not a subscriber and you just want to read the full contents of this article, buy online access here.

Complimentary Subscribers, Editors or Members of the Editorial Board of the International Journal of Computational Science and Engineering (IJCSE):
Login with your Inderscience username and password:

    Username:        Password:         

Forgotten your password?

Want to subscribe?
A subscription gives you complete access to all articles in the current issue, as well as to all articles in the previous three years (where applicable). See our Orders page to subscribe.

If you still need assistance, please email