Srivastava, R (2019) Mathematical assessment of blocks acceptance in blockchain using Markov model. International Journal of Blockchains and Cryptocurrencies, 1 (1). p. 42. ISSN 2516-6425
![[thumbnail of Mathematical_Assessment_of_Blocks_accept.pdf]](https://research.skylineuniversity.ac.ae/style/images/fileicons/text.png)
Mathematical_Assessment_of_Blocks_accept.pdf - Published Version
Download (332kB)
Abstract
Blockchain, introduced in bitcoin system is disrupting the way transactions are done in businesses via charging small transaction fees. It is observed that the acceptance of blocks in the blockchain is based on transaction value. Transmittals through blockchain are favoured due to low transaction cost and grander security. However, attempt of implementing blockchain to revolutionise business processes writhes from problem of waiting time for blocks. In this paper, the transaction-confirmation-time is appraised using queuing theory, where the approval rate of blocks in blockchain is concocted using Markov queue model. Four specific use cases of 1, 3, 6 and 60 confirmations are considered for practical purposes
Affiliation: | Skyline University College |
---|---|
SUC Author(s): | Srivastava, R |
All Author(s): | Srivastava, R |
Item Type: | Article |
Uncontrolled Keywords: | blockchain; transaction-confirmation time; distributed consensus mechanism; Markov model; waiting time. |
Subjects: | A Business and Management > AW Information Systems |
Divisions: | Skyline University College > School of Business |
Depositing User: | Mr SUC Library |
Date Deposited: | 01 Jul 2022 13:38 |
Last Modified: | 01 Jul 2022 13:38 |
URI: | https://research.skylineuniversity.ac.ae/id/eprint/542 |
Publisher URL: | https://doi.org/10.1504/IJBC.2019.101851 |
Publisher OA policy: | |
Related URLs: |
Actions (login required)
![]() |
Statistics for this ePrint Item |