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
DOI10.1371/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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