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Confirmation Delay Prediction of Transactions in the Bitcoin Network

  • Beltran Fiz
  • Stefan Hommes
  • Radu State
Conference paper
Part of the Lecture Notes in Electrical Engineering book series (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.

Keywords

Bitcoin Machine learning Mining pools 

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Copyright information

© Springer Nature Singapore Pte Ltd. 2018

Authors and Affiliations

  1. 1.SnTUniversity of LuxembourgLuxembourg CityLuxembourg

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