Complex Network Analysis of the Bitcoin Transaction Network

【Author】 Tao, Bishenghui; Dai, Hong-Ning; Wu, Jiajing; Ho, Ivan Wang-Hei; Zheng, Zibin; Cheang, Chak Fong

【Source】IEEE TRANSACTIONS ON CIRCUITS AND SYSTEMS II-EXPRESS BRIEFS

【影响因子】3.691

【Abstract】In this brief, we conduct a complex-network analysis of the Bitcoin transaction network. In particular, we design a new sampling method, namely random walk with flying-back (RWFB), to conduct effective data sampling. We then conduct a comprehensive analysis of the Bitcoin network in terms of the degree distribution, clustering coefficient, the shortest-path length, connected component, centrality, assortativity, and the rich-club coefficient. We obtain several important observations including the small-world phenomenon, multi-center status, preferential attachment, and non-rich-club effect of the current network. This work brings up an in-depth understanding of the current Bitcoin blockchain network and offers implications for future directions in malicious activity and fraud detection in cryptocurrency blockchain networks.

【Keywords】Bitcoin; Kernel; Blockchains; Sampling methods; Complex networks; Lattices; Circuits and systems; Blockchain; Bitcoin; complex network; network analysis

【发表时间】2022 MAR

【收录时间】2022-05-23

【文献类型】期刊

【主题类别】

--