GeoConnect:Efficient Peer to Peer Network Connectivity for Blockchain Systems

With the proliferation of blockchain systems across various sectors, optimizing network latency in peer-to-peer P2P blockchain networks has become crucial for achieving higher transaction rates. One of the proven approaches to reduce the overall network latency is to connect peers according to their geographical proximity. However, the nearest neighbor connectivity (NNC) approach introduces hub nodes in the P2P network where a non-negligible set of peers connect to a very high number of peers. Hub nodes in a P2P network can create single points of failure and centralization, increased vulnerability to targeted attacks leading to network decentralization. This paper introduces ‘GeoConnect’ a P2P network designed to optimize network latency while solving the hub node problem. Geoconnect introduces ‘Degree controlled nearest neighbor connection algorithm’ (DCNNC) that strategically identifies nearest neighbor peers based on their geographical proximity for every new peer joining the P2P network while avoiding the formation of hub nodes. Experimental evaluations demonstrate that the efficiency of DCNNC algorithm in improving the overall network latency compared to Random and NNC approaches.