blockchain, IOTA, performance analysis, simulation

In this paper, we have analyzed the performance of IOTA ledger using both empirical and analytical approaches. First extend an existing simulator to support realistic IOTA simulations and investigate the impact of different design parameters on IOTA’s performance. Then, we propose a layered model to help the users of IOTA determine the optimal waiting time to resend the previously submitted but not yet confirmed transaction. Our findings reveal the impact of the transaction arrival rate, tip selection algorithms (TSAs), weighted TSA randomness, and network delay on the throughput. Using the proposed layered model, we shed some light on the distribution of the confirmed transactions. The distribution is leveraged to calculate the optimal time for resending an unconfirmed transaction to the distributed ledger. The performance analysis results can be used by both system designers and users to support their decision making.