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Performance of Tip Selection Schemes in DAG Blockchains

In: Mathematical Research for Blockchain Economy

Author

Listed:
  • Richard Gardner

    (Cardiff University)

  • Philipp Reinecke

    (Cardiff University)

  • Katinka Wolter

    (Free University Berlin)

Abstract

In this paper we investigate the impact of transaction validation of two tip selection mechanisms in DAG blockchains such as the tangle of IOTA on the performance of the consensus mechanism. The tip selection algorithm determines which prior transactions are validated by a transaction. With validating a tip a transaction is appended to the tangle. We present TangleSim, our simulator based on OMNeT++, which allows to evaluate the transaction validation time and the time a transaction will spend as a tip in DAG blockchains. We find that the weighted random walk selection can achieve a lower transaction validation time than the random tip selection algorithm in many cases.

Suggested Citation

  • Richard Gardner & Philipp Reinecke & Katinka Wolter, 2020. "Performance of Tip Selection Schemes in DAG Blockchains," Springer Proceedings in Business and Economics, in: Panos Pardalos & Ilias Kotsireas & Yike Guo & William Knottenbelt (ed.), Mathematical Research for Blockchain Economy, pages 101-116, Springer.
    • Handle: RePEc:spr:prbchp:978-3-030-37110-4_8
    DOI: 10.1007/978-3-030-37110-4_8
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