A Comprehensive Study of the Bitcoin P2P Network

The Bitcoin peer-to-peer network ensures the consensus between the different nodes responsible for the propagation of the blocks containing the validated bitcoin transactions. The quality and safety of this network are therefore particularly essential. In this work, we present a study of the public nodes that form the backbone of the Bitcoin p2p network. We analyze the results of our measurement campaign that was made following a well-defined and reproducible methodology. In particular we analyze several criteria that can affect the network resilience: distribution and security assessment of the clients' versions, churn, detection of Sybil nodes, dynamicity and popularity of peers. We also investigate the countermeasures deployed to prevent an accurate inference of the network topology and show their effectiveness.