A Performance Analysis of Consensus Time for Blockchains

Abstract

Distributed ledgers are common in the industry. Some of them can use blockchains as their underlying infrastructure. A blockchain requires participants to agree on its contents. This can be achieved via a consensus protocol. How do these protocols differ in performance, and how are the differences affected by the communication network? Moreover, such a protocol would need a timer to ensure progress, but how should the timer be set? This article presents an analytical model to address these and related issues when there are crash faults. Specifically, it focuses on two consensus protocols (Istanbul BFT and HotStuff) and two network topologies (Folded-Clos and Dragonfly). The model provides formulas that express the consensus time in terms of protocol and topology parameters. No other model in the literature provides such a global view of the parameter space. Analysis of the closed-form expressions yield new insights into how the timers should be set, how faults affect the consensus time, when one protocol is faster than the other, and how the two topologies differ in their impact. The formulas and analyses are validated with simulations. The conclusion also offers some tips for the analytical modeling of similar protocols.