Abstract
Being the largest Initial Coin Offering project, EOSIO has attracted great interest in cryptocurrency markets. Despite its popularity and prosperity (e.g., 26,311,585,008 token transactions occurred from June 8, 2018 to Aug. 5, 2020), there is almost no work investigating the EOSIO token ecosystem. To fill this gap, we are the first to conduct a systematic investigation of the EOSIO token ecosystem by conducting a comprehensive graph analysis of the entire on-chain EOSIO data (nearly 135 million blocks). We construct token-creator graphs, token-contract creator graphs, token-holder graphs, and token-transfer graphs to characterize token creators, holders, and transfer activities. Through graph analysis, we have obtained many insightful findings and observed some abnormal trading patterns. Moreover, we propose a fake-token detection algorithm to identify tokens generated by fake users or fake transactions and analyze their corresponding manipulation behaviors. Evaluation results also demonstrate the effectiveness of our algorithm.
| Original language | English |
|---|---|
| Article number | 10 |
| Pages (from-to) | 5423-5439 |
| Number of pages | 17 |
| Journal | IEEE Transactions on Knowledge and Data Engineering |
| Volume | 36 |
| Issue number | 10 |
| Early online date | 26 Mar 2024 |
| DOIs | |
| Publication status | Published - Oct 2024 |
Bibliographical note
Publisher Copyright:IEEE
Funding
This work was supported in part by the Guangdong Basic and Applied Basic Research Foundation under Grant 2023A1515011336, in part by the Faculty Research under Grant DB22B7, under Grant DB23B2, and under Grant DB24A4 of Lingnan University, Hong Kong, and in part by the Hong Kong RGC Project under Grant PolyU15224121. Recommended for acceptance by K.Zheng.
Keywords
- Bitcoin
- Blockchain
- Consensus protocol
- Decentralized applications
- EOSIO
- Earth Observing System
- Ecosystems
- Smart contracts
- Throughput
- fake-token detection
- graph analysis
- token