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Analysis of Segregated Witness Implementation for Increasing Efficiency and Security of the Bitcoin Cryptocurrency

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Computational Collective Intelligence (ICCCI 2020)

Part of the book series: Lecture Notes in Computer Science ((LNAI,volume 12496))

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Abstract

The purpose of this paper is to present mechanisms and algorithms for improving Bitcoin cryptocurrency efficiency, security along with the block propagation times. Specifically, Segregated Witness Implementation (SWI) issues are verified based on both the simulation and real data from the Bitcoin network. Based on the block propagation times calculated in the simulator and real-world bitcoin network, the efficiency and safety of Bitcoin has been analysed and validated.

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Acknowledgements

This work was partially supported by the European Union’s Horizon 2020 research and innovation programme under the grant agreement No. 825183.

Author information

Authors and Affiliations

  1. Faculty of Computer Science and Management, Wroclaw University of Science and Technology, Wroclaw, Poland

    Michał Kędziora, Dawid Pieprzka & Ireneusz Jóźwiak

  2. Department of Electrical Engineering and Computer Science, Embry-Riddle Aeronautical University, Daytona Beach, FL, 32114, USA

    Yongxin Liu & Houbing Song

Authors
  1. Michał Kędziora
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  2. Dawid Pieprzka
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  3. Ireneusz Jóźwiak
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  4. Yongxin Liu
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  5. Houbing Song
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Corresponding author

Correspondence to Michał Kędziora .

Editor information

Editors and Affiliations

  1. Department of Applied Informatics, Wrocław University of Science and Technology, Wroclaw, Poland

    Ngoc Thanh Nguyen

  2. Thua Thien Hue Center of Information Technology, Hue, Vietnam

    Bao Hung Hoang

  3. Vietnam - Korea University of Information and Communication Technology, University of Da Nang, Da Nang, Vietnam

    Cong Phap Huynh

  4. Department of Computer Engineering, Yeungnam University, Gyeungsan, Korea (Republic of)

    Dosam Hwang

  5. Department of Applied Informatics, Wrocław University of Science and Technology, Wroclaw, Poland

    Bogdan Trawiński

  6. Department of Information Systems, University of Münster, Münster, Germany

    Gottfried Vossen

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Kędziora, M., Pieprzka, D., Jóźwiak, I., Liu, Y., Song, H. (2020). Analysis of Segregated Witness Implementation for Increasing Efficiency and Security of the Bitcoin Cryptocurrency. In: Nguyen, N.T., Hoang, B.H., Huynh, C.P., Hwang, D., Trawiński, B., Vossen, G. (eds) Computational Collective Intelligence. ICCCI 2020. Lecture Notes in Computer Science(), vol 12496. Springer, Cham. https://doi.org/10.1007/978-3-030-63007-2_50

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  • DOI: https://doi.org/10.1007/978-3-030-63007-2_50

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  • Publisher Name: Springer, Cham

  • Print ISBN: 978-3-030-63006-5

  • Online ISBN: 978-3-030-63007-2

  • eBook Packages: Computer ScienceComputer Science (R0)

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