Traveling the token world: A graph analysis of Ethereum ERC20 token ecosystem

Chen, Weili; Zhang, Tuo; Chen, Zhiguang; Zheng, Zibin; Lu, Yutong

doi:10.1145/3366423.3380215

Cited by 69 publications

(40 citation statements)

References 27 publications

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“…Applying network science theory onto the transaction graph, Guo et al [21] conclude that 'transaction volume, transaction relation, and component structure, exhibit a heavy-tailed property and can be approximated by the power law function.' Likewise, Chen et al [7] employ a graph approach to analyze the token ecosystem by constructing a graph each for the creators, holders, and transfers of tokens.…”

Section: Ethereum Token Network and Transactionsmentioning

confidence: 99%

“…Type Distinction. Next to employing a graph approach to analyze the token ecosystem, Chen et al [7] try to classify token contracts by reading the descriptive texts in their source code, albeit less than 1% of the tokens provide such a text. In our previous work [14], we infer the token type over a semantic classification of the token interface.…”

Section: Evm Bytecode Analysismentioning

confidence: 99%

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Identification of token contracts on Ethereum: standard compliance and beyond

Angelo

Salzer

2021

Int J Data Sci Anal

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Next to cryptocurrencies, tokens are a widespread application area of blockchains. Tokens are digital assets implemented as small programs on a blockchain. Being programmable makes them versatile and an innovative means for various purposes. Tokens can be used as investment, as a local currency in a decentralized application, or as a tool for building an ecosystem or a community. A high-level categorization of tokens differentiates between payment, security, and utility tokens. In most jurisdictions, security tokens are regulated, and hence, the distinction is of relevance. In this work, we discuss the identification of tokens on Ethereum, the most widely used token platform. The programs on Ethereum are called smart contracts, which—for the sake of interoperability—may provide standardized interfaces. In our approach, we evaluate the publicly available transaction data by first reconstructing interfaces in the low-level code of the smart contracts. Then, we not only check the compliance of a smart contract with an established interface standard for tokens, but also aim at identifying tokens that are not fully compliant. Thus, we discuss various heuristics for token identification in combination with possible definitions of a token. More specifically, we propose indicators for tokens and evaluate them on a large set of token and non-token contracts. Finally, we present first steps toward an automated classification of tokens regarding their purpose.

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Section: Ethereum Token Network and Transactionsmentioning

confidence: 99%

Section: Evm Bytecode Analysismentioning

confidence: 99%

Identification of token contracts on Ethereum: standard compliance and beyond

Angelo

Salzer

2021

Int J Data Sci Anal

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“…One major difference between ERC-20 tokens and Bitcoin/other prominent cryptocurrencies is that they do not run on their own blockchains (Somin et al, 2018). Over 200,000 ERC-20-compatible tokens are available on Ethereum's main network, with over 160,000 of these being completely compliant with ERC-20 standards (Chen et al, 2020;Di Angelo and Salzer, 2020). A list of rules which all fungible Ethereum tokens need to comply with has been defined by ERC-20 (Ethereum, 2021).…”

Section: Blockchain-based Applications and Smart Contractsmentioning

confidence: 99%

“…It also ensures that new tokens will function seamlessly with other tokens available on the Ethereum platform. Altogether, the ERC-20 standard facilitates the cohesive performance of different types of Ethereum tokens within the system (Chen et al, 2020). Most of the digital wallets which support Ether, the currency native to Ethereum, support tokens compliant with ERC-20 standards (Fenu et al, 2018).…”

Section: Blockchain-based Applications and Smart Contractsmentioning

confidence: 99%

Use of a Blockchain-Based Marketplace to Incentivize Participation in Virtual Clinical Trials

Olla¹,

Abumeeiz²,

Elliott³

et al. 2021

Journal of Technological Advancements

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There is an emerging need for advancements in how clinical trials are conducted in the current pandemic situation. Healthcare institutions are moving towards using digital technologies to avoid physical interactions between doctors and clinical trial participants. However, difficulties in recruiting and retaining participants are still prevalent. To overcome this issue, an incentive system that can be trusted by doctors as well as trial participants is required. The authors present a detailed report of Cashish, a blockchain-based incentivization system that rewards trial participants in the form of cryptocurrency tokens that they can utilize in an online marketplace that is also backed by the same blockchain. Usage of blockchain technology to provide research participation incentives eliminates the need for trust systems and ensures transparency between doctors and clinical trial participants, while ensuring participant anonymity.

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“…Several studies [45]- [51] have been focused on the ERC-20 smart contracts in Ethereum. A number of studies [46], [47], [50] analyzed the network structures of tokens and transactions in Ethereum. Chen et al proposed To-kenScope [51], which is able to detect transactions that triggers inconsistent behaviors.…”

Section: Related Workmentioning

confidence: 99%

DEPOSafe: Demystifying the Fake Deposit Vulnerability in Ethereum Smart Contracts

et al. 2020

2020 25th International Conference on Engineering of Complex Computer Systems (ICECCS)

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Cryptocurrency has seen an explosive growth in recent years, thanks to the evolvement of blockchain technology and its economic ecosystem. Besides Bitcoin, thousands of cryptocurrencies have been distributed on blockchains, while hundreds of cryptocurrency exchanges are emerging to facilitate the trading of digital assets. At the same time, it also attracts the attentions of attackers. Fake deposit, as one of the most representative attacks (vulnerabilities) related to exchanges and tokens, has been frequently observed in the blockchain ecosystem, causing large financial losses. However, besides a few security reports, our community lacks the understanding of this vulnerability, for example its scale and the impacts. In this paper, we take the first step to demystify the fake deposit vulnerability. Based on the essential patterns we have summarized, we implement DEPOSafe, an automated tool to detect and verify (exploit) the fake deposit vulnerability in ERC-20 smart contracts. DEPOSafe incorporates several key techniques including symbolic execution based static analysis and behavior modeling based dynamic verification. By applying DEPOSafe to 176,000 ERC-20 smart contracts, we have identified over 7,000 vulnerable contracts that may suffer from two types of attacks. Our findings demonstrate the urgency to identify and prevent the fake deposit vulnerability.

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Traveling the token world: A graph analysis of Ethereum ERC20 token ecosystem

Cited by 69 publications

References 27 publications

Identification of token contracts on Ethereum: standard compliance and beyond

Identification of token contracts on Ethereum: standard compliance and beyond

Use of a Blockchain-Based Marketplace to Incentivize Participation in Virtual Clinical Trials

DEPOSafe: Demystifying the Fake Deposit Vulnerability in Ethereum Smart Contracts

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