Evolutionary dynamics of cryptocurrency transaction networks: An empirical study | |
Jiaqi, Liang1,2; Linjing, Li1; Daniel, Zeng1,2,3 | |
刊名 | PLOS ONE |
2018-08-17 | |
卷号 | 13期号:8页码:1-18 |
关键词 | cryptocurrency blockchain bitcoin transaction networks network analysis |
DOI | 10.1371/journal.pone.0202202 |
文献子类 | Article |
英文摘要 | Cryptocurrency is a well-developed blockchain technology application that is currently a heated topic throughout the world. The public availability of transaction histories offers an opportunity to analyze and compare different cryptocurrencies. In this paper, we present a dynamic network analysis of three representative blockchain-based cryptocurrencies: Bitcoin, Ethereum, and Namecoin. By analyzing the accumulated network growth, we find that, unlike most other networks, these cryptocurrency networks do not always densify over time, and they are changing all the time with relatively low node and edge repetition ratios. Therefore, we then construct separate networks on a monthly basis, trace the changes of typical network characteristics (including degree distribution, degree assortativity, clustering coefficient, and the largest connected component) over time, and compare the three. We find that the degree distribution of these monthly transaction networks cannot be well fitted by the famous power-law distribution, at the same time, different currency still has different network properties, e.g., both Bitcoin and Ethereum networks are heavy-tailed with disassortative mixing, however, only the former can be treated as a small world. These network properties reflect the evolutionary characteristics and competitive power of these three cryptocurrencies and provide a foundation for future research. |
学科主题 | Science Technology, Social Sciences |
WOS关键词 | COMPLEX NETWORKS |
WOS研究方向 | Science & Technology - Other Topics |
语种 | 英语 |
WOS记录号 | WOS:000442282700017 |
资助机构 | National Key Research and Development Program of China(2017YFC0820105 ; National Natural Science Foundation of China(71621002 ; Key Research Program of the Chinese Academy of Sciences(ZDRW-XH-2017-3) ; 2016QY02D0305) ; U1435221) |
内容类型 | 期刊论文 |
源URL | [http://ir.ia.ac.cn/handle/173211/21866] |
专题 | 自动化研究所_复杂系统管理与控制国家重点实验室_互联网大数据与安全信息学研究中心 |
通讯作者 | Jiaqi, Liang; Linjing, Li |
作者单位 | 1.The State Key Laboratory of Management and Control for Complex Systems, Institute of Automation, Chinese Academy of Sciences, Beijing, China 2.School of Computer and Control Engineering, University of Chinese Academy of Sciences, Beijing, China 3.Department of Management of Information Systems, The University of Arizona, Tucson, AZ, United States of America |
推荐引用方式 GB/T 7714 | Jiaqi, Liang,Linjing, Li,Daniel, Zeng. Evolutionary dynamics of cryptocurrency transaction networks: An empirical study[J]. PLOS ONE,2018,13(8):1-18. |
APA | Jiaqi, Liang,Linjing, Li,&Daniel, Zeng.(2018).Evolutionary dynamics of cryptocurrency transaction networks: An empirical study.PLOS ONE,13(8),1-18. |
MLA | Jiaqi, Liang,et al."Evolutionary dynamics of cryptocurrency transaction networks: An empirical study".PLOS ONE 13.8(2018):1-18. |
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