BitExTract: Interactive Visualization for Extracting Bitcoin Exchange Intelligence

【Author】 Yue, Xuanwu; Shu, Xinhuan; Zhu, Xinyu; Du, Xinnan; Yu, Zheqing; Papadopoulos, Dimitrios; Liu, Siyuan

【Source】IEEE TRANSACTIONS ON VISUALIZATION AND COMPUTER GRAPHICS

【Abstract】The emerging prosperity of cryptocurrencies, such as Bitcoin, has come into the spotlight during the past few years. Cryptocurrency exchanges, which act as the gateway to this world, now play a dominant role in the circulation of Bitcoin. Thus, delving into the analysis of the transaction patterns of exchanges can shed light on the evolution and trends in the Bitcoin market, and participants can gain hints for identifying credible exchanges as well. Not only Bitcoin practitioners but also researchers in the financial domains are interested in the business intelligence behind the curtain. However, the task of multiple exchanges exploration and comparisons has been limited owing to the lack of efficient tools. Previous methods of visualizing Bitcoin data have mainly concentrated on tracking suspicious transaction logs, but it is cumbersome to analyze exchanges and their relationships with existing tools and methods. In this paper, we present BitExTract, an interactive visual analytics system, which, to the best of our knowledge, is the first attempt to explore the evolutionary transaction patterns of Bitcoin exchanges from two perspectives, namely, exchange versus exchange and exchange versus client. In particular. BitExTract summarizes the evolution of the Bitcoin market by observing the transactions between exchanges over time via a massive sequence view. A node-link diagram with ego-centered views depicts the trading network of exchanges and their temporal transaction distribution. Moreover, BitExTract embeds multiple parallel bars on a timeline to examine and compare the evolution patterns of transactions between different exchanges. Three case studies with novel insights demonstrate the effectiveness and usability of our system.

【Keywords】Bitcoin exchange; transaction data; comparative analysis; visual analytics; FinTech

【标题】BitExTract:交互式可视化提取比特币交换情报

【摘要】过去几年，比特币等加密货币的繁荣逐渐成为人们关注的焦点。作为通往这个世界的门户，加密货币交易所现在在比特币的流通中发挥着主导作用。因此，深入分析交易所的交易模式可以揭示比特币市场的演变和趋势，参与者也可以获得识别可信交易所的线索。不仅是比特币从业者，金融领域的研究人员也对幕后的商业智能感兴趣。然而，由于缺乏有效的工具，多种交流、探索和比较的任务受到了限制。以往的比特币数据可视化方法主要集中在跟踪可疑交易日志上，但利用现有工具和方法分析交易所及其关系较为繁琐。在本文中，我们提出了一个交互式视觉分析系统BitExTract，据我们所知，它是第一次尝试从两个角度探索比特币交易的演化模式，即交换vs交换和交换vs客户。在特定的。BitExTract总结了比特币市场的演变，通过观察交易所之间的交易随着时间的推移，通过一个大规模的序列视图。一个以自我为中心的节点链接图描述了交易所的交易网络及其时间交易分布。此外，BitExTract在时间轴上嵌入多个平行条，以检查和比较不同交易所之间交易的演化模式。三个具有新颖见解的案例研究证明了我们系统的有效性和可用性。

【关键词】比特币交易;交易数据;比较分析;视觉分析;金融科技

【发表时间】2019

【收录时间】2022-04-23

【文献类型】Article

【论文大主题】链上数据分析

【论文小主题】交易网络可视化及分析

【期刊级别】SCI一区

【影响因子】5.226

【翻译者】王佳鑫