The Bitcoin P2P network is formed by thousands of nodes running the Bitcoin protocol. While the nodes participating in the network are mostly known, the peer discovery process in the protocol is explicitly designed to hide the global network structure. In this talk, we present a simple dynamic random graph model inspired by the peer discovery process in the Bitcoin protocol and we analyze its robustness with respect to stabilization and expansion: We show that the network dynamics quickly converges to a stable random graph that turns out to be a good expander, with high probability.
The talk is based on joint work with Luca Becchetti, Andrea Clementi, Emanuele Natale, and Luca Trevisan.
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