Performance Evaluation Experiments of Bitcoin SV Scaling Test Network

Abstract

Bitcoin SV Scaling Test Network (STN) is an experimental network for testing Bitcoin scalability using on-chain technology. A large amount of transactions are always sent to the peer-to-peer network, and huge blocks are constantly generated. In this study, by running our STN node, occupancy rate of transaction processing and blockchain split probability are estimated. As a result, the estimated occupancy rate was about 1.04 and the estimated split probability was 8.5%. In addition, transaction processing performance was experimentally evaluated by sending transactions including OP_RETURN script as frequently as once per minute during one week. As a result, the estimated probability that a transaction was finally approved was 98%. We also confirmed that the distribution of latency time until a transaction is approved follows a power-law distribution at the high tail. From these results, we concluded that it is consistent to analyze STN using the theory of priority queueing.