Advertisement

The Graph Structure of Bitcoin

  • Damiano Di Francesco Maesa
  • Andrea Marino
  • Laura Ricci
Conference paper
Part of the Studies in Computational Intelligence book series (SCI, volume 813)

Abstract

In this paper we study the structure of the Bitcoin users graph derived from the transactions data stored in the Bitcoin blockchain. This work analyzes the macroscopic structure of the connectivity components of such graph. As our graph represents an economic community, we give an economical interpretation of the different components. To do so we analyze the flow of value between the different components and study the entities contained in each of them. We also perform a temporal analysis of the components evolution to support our economical characterization.

Keywords

Bitcoin Blockchain Cryptocurrency Graph analysis 

References

  1. 1.
    Androulaki, E., Karame, G.O., Roeschlin, M., Scherer, T., Capkun, S.: Evaluating user privacy in bitcoin. In: International Conference on Financial Cryptography and Data Security, pp. 34–51. Springer (2013)Google Scholar
  2. 2.
    Blockchain Info Tags: https://blockchain.info/tags
  3. 3.
    Bonneau, J., Miller, A., Clark, J., Narayanan, A., Kroll, J.A., Felten, E.W.: Sok: Research perspectives and challenges for bitcoin and cryptocurrencies. In: 2015 IEEE Symposium on Security and Privacy (SP), pp. 104–121. IEEE (2015)Google Scholar
  4. 4.
    Broder, A., et al.: Graph structure in the web. Comput. Netw. 33(1–6), 309–320 (2000)CrossRefGoogle Scholar
  5. 5.
    Di Francesco Maesa, D., Marino, A., Ricci, : L.: Uncovering the bitcoin blockchain: an analysis of the full users graph. In: 2016 IEEE International Conference on Data Science and Advanced Analytices (DSAA), pp. 537–546. IEEE (2016)Google Scholar
  6. 6.
    Di Francesco Maesa, D., Marino, A.: Data-driven analysis of bitcoin properties: exploiting the users graph. Int. J. Data Sci. Anal. 1–18 (2017)Google Scholar
  7. 7.
    Di Francesco Maesa, D., Marino, A., Ricci, L.: Detecting artificial behaviours in the bitcoin users graph. Online Soc. Netw. Media 3, 63–74 (2017)CrossRefGoogle Scholar
  8. 8.
    Donato, D., Leonardi, S., Millozzi, S., Tsaparas, P.: Mining the inner structure of the web graph. J. Phys. A: Math. Theor. 41(22), 224,017 (2008)MathSciNetCrossRefGoogle Scholar
  9. 9.
    Fergal, R., Harrigan, M.: An analysis of anonymity in the bitcoin system. In: Proceeding of 2011 PASSAT/SocialCom 2011, pp. 1318–1326. IEEE (2011)Google Scholar
  10. 10.
    Harrigan, M., Fretter, C.: The unreasonable effectiveness of address clustering. In: 13th IEEE International Conference on Advanced and Trusted Computing (ATC 2016) (2016)Google Scholar
  11. 11.
    Kondor, D., Pósfai, M., Csabai, I., Vattay, G.: Do the rich get richer? an empirical analysis of the bitcoin transaction network. PloS one 9(2), e86,197 (2014)CrossRefGoogle Scholar
  12. 12.
    Lischke, M.: Analyzing the bitcoin network: The first four years. Futur. Internet 8(1), 20160301 (2016)Google Scholar
  13. 13.
    McGinn, D., Birch, D., Akroyd, D., Molina-Solana, M., Guo, Y., Knottenbelt, W.J.: Visualizing dynamic bitcoin transaction patterns. Big data 4(2), 109–119 (2016)CrossRefGoogle Scholar
  14. 14.
    Meiklejohn, S., et al.: A fistful of bitcoins: characterizing payments among men with no names. In: Proceedings of the 2013 Internet Measurement Conference, IMC 2013, Barcelona, Spain, 23–25 Oct 2013, pp. 127–140 (2013)Google Scholar
  15. 15.
    Meusel, R., Vigna, S., Lehmberg, O., Bizer, : C.: Graph structure in the web–revisited: a trick of the heavy tail. In: Proceedings of the 23rd International Conference on World Wide Wed, pp. 427–432. ACM (2014)Google Scholar
  16. 16.
    Nakamoto, S.: Bitcoin: A Peer-to-Peer Electronic Cash System (2008)Google Scholar
  17. 17.
    Popuri, M.K., Gunes, M.H.: empirical analysis of crypto currencies. In: 7th Workshop on Complex Networks (CompleNet), Dijon, France, 23–25 Mar 2016 (2016)Google Scholar
  18. 18.
    Ron, D., Shamir, A.: Quantitative analysis of the full bitcoin transaction graph. In: Financial Cryptography and Data Security - 17th International Conference, FC 2013, Okinawa, Japan, 1–5 Apr 2013. Revised Selected Papers, pp. 6–24 (2013)Google Scholar

Copyright information

© Springer Nature Switzerland AG 2019

Authors and Affiliations

  • Damiano Di Francesco Maesa
    • 1
  • Andrea Marino
    • 1
  • Laura Ricci
    • 1
  1. 1.Department of Computer ScienceUniversity of PisaPisaItaly

Personalised recommendations