# Capacity Analysis of Public Blockchain

arXiv: https://arxiv.org/abs/2106.14149 · HTML: https://mlsanity.com/paper/2106.14149/

## Key facts

- Cited by 1 papers in the map (data through 14 Oct 2026).
- First posted on arXiv 27 Jun 2021.

## Built on by (most cited first, 1 of 1)

- [Blockchained Federated Learning for Internet of Things: A Comprehensive Survey](https://mlsanity.com/paper/2305.04513/) (2023)

## Abstract (arXiv)

As distributed ledgers, blockchains run consensus protocols which trade capacity for consistency, especially in non-ideal networks with incomplete connectivity and erroneous links. Existing studies on the tradeoff between capacity and consistency are only qualitative or rely on specific assumptions. This paper presents discrete-time Markov chain models to quantify the capacity of Proof-of-Work based public blockchains in non-ideal networks. The comprehensive model is collapsed to be ergodic under the eventual consistency of blockchains, achieving tractability and efficient evaluations of blockchain capacity. A closed-form expression for the capacity is derived in the case of two miners. Another important aspect is that we extend the ergodic model to analyze the capacity under strong consistency, evaluating the robustness of blockchains against double-spending attacks. Validated by simulations, the proposed models are accurate and reveal the effect of link quality and the distribution of mining rates on blockchain capacity and the ratio of stale blocks.