In this paper, we conduct a complex-network analysis of the Bitcoin 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, the assortativity, and the rich-club coefficient. There are several important observations from the Bitcoin network, such as small-world phenomenon and non-rich-club effect. 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.
|Title of host publication||2021 IEEE International Symposium on Circuits and Systems, ISCAS 2021 - Proceedings|
|Publisher||Institute of Electrical and Electronics Engineers Inc.|
|Publication status||Published - May 2021|
|Event||53rd IEEE International Symposium on Circuits and Systems, ISCAS 2021 - Daegu, Korea, Republic of|
Duration: 22 May 2021 → 28 May 2021
|Name||Proceedings - IEEE International Symposium on Circuits and Systems|
|Conference||53rd IEEE International Symposium on Circuits and Systems, ISCAS 2021|
|Country/Territory||Korea, Republic of|
|Period||22/05/21 → 28/05/21|
Bibliographical noteFunding Information:
This work was supported in part by the General Research Fund (Project No. 15201118) established under the University Grant Committee (UGC) of the Hong Kong Special Administrative Region (HKSAR), China.
© 2021 IEEE
- Complex network
- Network analysis