A bitcoin-inspired infinite-server model with a random fluid limit

DOI10.1080/15326349.2018.1559739MaRDI QIDQ5742573zbMATH OpenOpenAlexFDO

Authors Maria Frolkova, M. R. H. Mandjes

Publication date 15 May 2019

Published in Stochastic Models (Search for Journal in Brave)

Full work available at URL https://arxiv.org/abs/1703.08406

zbMATH Keywords

fluid limitgrowth-collapse processstochastic-process limit

Mathematics Subject Classification ID

Functional limit theorems; invariance principles (60F17) Queueing theory (aspects of probability theory) (60K25) Applications of queueing theory (congestion, allocation, storage, traffic, etc.) (60K30)

Abstract: The synchronization process inherent to the Bitcoin network gives rise to an infinite-server model with the unusual feature that customers interact. Among the closed-form characteristics that we derive for this model is the busy period distribution which, counterintuitively, does not depend on the arrival rate. We explain this by exploiting the equivalence between two specific service disciplines, which is also used to derive the model's stationary distribution. Next to these closed-form results, the second major contribution concerns an asymptotic result: a fluid limit in the presence of service delays. Since fluid limits arise under scalings of the law-of-large-numbers type, they are usually deterministic, but in the setting of the model discussed in this paper the fluid limit is random (more specifically, of growth-collapse type).

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Cites work

• A Markovian analysis of additive-increase multiplicative-decrease algorithms
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• Effect of Bitcoin fee on transaction-confirmation process
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Cited in

(6)

• On classes of Bitcoin-inspired infinite-server queueing systems
• A further study of some Markovian bitcoin models from Göbel et al.
• The fluid limit of a random graph model for a shared ledger
• Moments of Markovian growth–collapse processes
• Matrix calculations for moments of Markov processes
• Data flow dissemination in a network

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