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Confirmation Delay Prediction of Transactions in the Bitcoin Network

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Advances in Computer Science and Ubiquitous Computing (CUTE 2017, CSA 2017)

Part of the book series: Lecture Notes in Electrical Engineering ((LNEE,volume 474))

Abstract

Bitcoin is currently the most popular digital currency. It operates on a decentralised peer-to-peer network using an open source cryptographic protocol. In this work, we create a model of the selection process performed by mining pools on the set of unconfirmed transactions and then attempt to predict if an unconfirmed transaction will be part of the next block by treating it as a supervised classification problem. We identified a vector of features obtained through service monitoring of the Bitcoin transaction network and performed our experiments on a publicly available dataset of Bitcoin transaction.

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Author information

Authors and Affiliations

  1. SnT, University of Luxembourg, 29, Avenue J.F Kennedy, 1855, Luxembourg City, Luxembourg

    Beltran Fiz, Stefan Hommes & Radu State

Authors
  1. Beltran Fiz
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  2. Stefan Hommes
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  3. Radu State
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Corresponding author

Correspondence to Beltran Fiz .

Editor information

Editors and Affiliations

  1. Department of Computer Science and Engineering, Seoul University of Science and Technology, Seoul, Korea (Republic of)

    James J. Park

  2. Department of Business Science, University of Salerno, Salerno, Italy

    Vincenzo Loia

  3. Department of Multimedia Engineering, Dongguk University, Seoul, Soul-t’ukpyolsi, Korea (Republic of)

    Gangman Yi

  4. Department of Multimedia Engineering, Dongguk University, Seoul, Soul-t’ukpyolsi, Korea (Republic of)

    Yunsick Sung

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© 2018 Springer Nature Singapore Pte Ltd.

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Cite this paper

Fiz, B., Hommes, S., State, R. (2018). Confirmation Delay Prediction of Transactions in the Bitcoin Network. In: Park, J., Loia, V., Yi, G., Sung, Y. (eds) Advances in Computer Science and Ubiquitous Computing. CUTE CSA 2017 2017. Lecture Notes in Electrical Engineering, vol 474. Springer, Singapore. https://doi.org/10.1007/978-981-10-7605-3_88

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  • DOI: https://doi.org/10.1007/978-981-10-7605-3_88

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  • Publisher Name: Springer, Singapore

  • Print ISBN: 978-981-10-7604-6

  • Online ISBN: 978-981-10-7605-3

  • eBook Packages: EngineeringEngineering (R0)

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