Bitcoin FIBRE Network

Bitcoin FIBRE Network

The Bitcoin FIBRE network stands for Fast Internet Bitcoin Relay Engine. It is an upgrade to the ‘Bitcoin Relay Network’.

When a block is mined on the Bitcoin network it has to be sent and received by all the others users (nodes) on the network.

As the Bitcoin network has grown it has needed to mature. To realise its full potential, the faster blocks propagate through the network, the better.

Faster propagation also prevents miner centralisation, and centralisation of the network. Miner centralisation is not conducive to a robust and healthy decentralised ecosystem.

As a result, developers working on Bitcoin core came up with the Bitcoin Relay Network. This was introduced a few years ago. It exists as a network of nodes positioned across Asia, Russia and Europe and Nth. America.

These nodes have strong internet connections. Compressed data is transmitted through them, to another nodes. This ‘Bitcoin Relay Network’ acts as a key element to the Bitcoin network.

Recently the Bitcoin Relay Network got an upgrade.

Introducing the Bitcoin FIBRE Network

FIBRE exists to improve the speed and propagation time of blocks between nodes on the network.

This has the effect of:

1. Reducing orphan block numbers.
2. Makes selfish mining less advantageous.
3. Reduces the number of empty blocks from SPV mining.

Reducing Latency with the Bitcoin FIBRE Network

The main idea behind FIBRE is to reduce latency. Latency being the time it takes blocks to propagate to nodes across the network.

The Bitcoin Network would transmit blocks over the Transmission Control Protocol (TCP). However, this is not ideal for truly reliable transmission of blocks with low latency. It is simply not reliable enough.

So FIBRE has switched to the User Datagram Protocol (UDP).

Let Many Bitcoin FIBRE Networks Bloom

The Bitcoin FIBRE network software is an addition to the Bitcoin Core software, seeking to upgrade from the Bitcoin Relay Network.

The hope from the Core developers is that we will see a proliferation in users creating their own Bitcoin FIBRE networks, supporting the ecosystem. This will help greatly is maintaining decentralisation.

For anyone interested in running a Bitcoin FIBRE network, there is a guide for setting up FIBRE networks.

We can also offer some assistance at iceCUBED, through our helpdesk.

One Response to Bitcoin FIBRE Network
  1. […] scaling roadmap for bitcoin involves implementation of segwit, improvements to the relay network, some other minor changes, then a hard fork sometime in the next 2 […]


[top]

Leave a Reply

Your email address will not be published.