Optimal block time for proof of work blockchains

Abstract

Proof Of Work Blockchains such as Bitcoin and Ethereum exhibit a low Transaction Per Second (TPS) that impacts the scalability of the blockchain. Manipulating the block creation time can yield a higher TPS. A lower block creation rate results in a higher Stale Block rate that has a direct impact on the security of blockchain. We intend on using a novel Proof of Work Classification model under a varying level of difficulty to classify an instance of blockchain with a threshold (Block-time) on the basis of it’s resilience to selfish mining and double-spending attacks. Use of an ideal block creation time can help Proof of Work blockchains scale and attain a higher TPS without trading off security. The classification model can further be extended to find an optimal block-size.