Transaction Characteristics of Bitcoin
This work provides insights into Bitcoin's transaction and traffic characteristics, which is important for researchers and practitioners in blockchain and network security, but it is incremental as it builds on existing knowledge.
The paper conducted a comprehensive study on Bitcoin's transaction characteristics, focusing on fundamental processes like confirmation time, and examined the validity of several hypotheses from the literature using measurements.
Blockchain has been considered as an important technique to enable secure management of virtual network functions and network slices. To understand such capabilities of a blockchain, e.g. transaction confirmation time, demands a thorough study on the transaction characteristics of the blockchain. This paper presents a comprehensive study on the transaction characteristics of Bitcoin -- the first blockchain application, focusing on the underlying fundamental processes. A set of results and findings are obtained, which provide new insight into understanding the transaction and traffic characteristics of Bitcoin. As a highlight, the validity of several hypotheses/assumptions used in the literature is examined with measurement for the first time.