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Dissecting bitcoin blockchain: Empirical analysis of bitcoin network (2009–2020)
Journal of Network and Computer Applications ( IF 7.7 ) Pub Date : 2020-12-11 , DOI: 10.1016/j.jnca.2020.102940
Pranav Nerurkar , Dhiren Patel , Yann Busnel , Romaric Ludinard , Saru Kumari , Muhammad Khurram Khan

Bitcoin system (or Bitcoin) is a peer-to-peer and decentralized payment system that uses cryptocurrency named bitcoins (BTCs) and was released as open-source software in 2009. Unlike fiat currencies, there is no centralized authority or any statutory recognition, backing, or regulation for Bitcoin. All transactions are confirmed for validity by a network of volunteer nodes (miners) and after collective agreement is subsequently recorded into a distributed ledger “Blockchain”. Bitcoin platform has attracted both social and anti-social elements. On the one hand, it is social as it ensures the exchange of value, maintaining trust in a cooperative, community-driven manner without the need for a trusted third party. At the same time, it is anti-social as it creates hurdles for law enforcement to trace suspicious transactions due to anonymity and privacy. To understand how the social and anti-social tendencies in the user base of Bitcoin affect its evolution, there is a need to analyze the Bitcoin system as a network. The current paper aims to explore the local topology and geometry of the Bitcoin network during its first decade of existence. Bitcoin transaction data from 03 Jan 2009 12:45:05 GMT to 08 May 2020 13:21:33 GMT was processed for this purpose to build a Bitcoin user graph. The characteristics, local and global network properties of the user's graph were analyzed at ten intervals between 2009 and 2020 with a gap of one year. Small diameter, skewed distribution of transactions, power-law distributed in and out degrees, disconnected graph, and presence of large connected components were the observations from network analysis. Thus, it could be inferred that despite anti-social tendencies, Bitcoin network shared similarities with other complex networks. Network analysis also uncovered twenty types of legal and anti-social entities operating on Bitcoin and provided a path for uncovering these anti-social entities.



中文翻译:

剖析比特币区块链:对比特币网络的实证分析(2009–2020年)

比特币系统(或比特币)是一种点对点的去中心化支付系统,使用名为比特币(BTC)的加密货币,并于2009年作为开源软件发布。与法定货币不同,没有中央授权或任何法定认可,支持或监管比特币。所有交易均由志愿者节点(矿工)网络确认其有效性,并在集体协议之后记录到分布式分类账“区块链”中。比特币平台吸引了社会和反社会因素。一方面,它是社会性的,因为它确保了价值交换,以协作,社区驱动的方式保持信任,而无需可信赖的第三方。与此同时,它是反社会的,因为匿名和隐私给执法人员提供了追踪可疑交易的障碍。为了了解比特币用户群中的社交和反社交趋势如何影响其发展,有必要将比特币系统作为网络进行分析。本论文旨在探讨比特币网络存在的最初十年的局部拓扑和几何形状。为此,处理了从格林尼治标准时间2009年1月3日12:45:05到2020年5月8日13:21:33的比特币交易数据,以建立比特币用户图。用户图的特征,本地和全局网络属性在2009年至2020年之间以十个间隔进行了分析,间隔为一年。小直径,交易的偏斜分布,幂律进出度分布,不连续图形,网络分析表明,大型连接组件的存在。因此,可以推断,尽管存在反社会倾向,但比特币网络与其他复杂网络共享相似之处。网络分析还发现了二十种在比特币上运作的法律和反社会实体,并提供了探索这些反社会实体的途径。

更新日期:2021-01-10
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