Quantitative Description of Internal Activity on the Ethereum Public Blockchain

Anoaica, Andra; Levard, Hugo

doi:10.1109/ntms.2018.8328741

Cited by 21 publications

(14 citation statements)

References 9 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Ren and Ward [125] found that the percentage of pool-mined blocks was already 91.12% in Bitcoin and 92.2% in Ethereum in July 2018. Mining pool addresses are with the highest degree-based and betweenness centralities in the transaction networks [126].…”

Section: Signature Behaviors Of Cryptocurrency Economy Agents Minersmentioning

confidence: 99%

“…Overall, it was estimated that 18% of the addresses belonged to exchanges in Bitcoin transactions [72]. Network nodes that belong to popular exchanges are highly ranked in degree [75], [85], PageRank, betweenness, and closeness centralities in the transaction networks [12], [126], [134]. Exchange nodes have particular patterns of network connections, too.…”

Section: Exchanges and Walletsmentioning

confidence: 99%

See 1 more Smart Citation

Knowledge Discovery in Cryptocurrency Transactions: A Survey

et al. 2021

View full text Add to dashboard Cite

Cryptocurrencies gain trust in users by publicly disclosing the full creation and transaction history. In return, the transaction history faithfully records the whole spectrum of cryptocurrency user behaviors. This article analyzes and summarizes the existing research on knowledge discovery in the cryptocurrency transactions using data mining techniques. Specifically, we classify the existing research into three aspects, i.e., transaction tracings and blockchain address linking, the analyses of collective user behaviors, and the study of individual user behaviors. For each aspect, we present the problems, summarize the methodologies, and discuss major findings in the literature. Furthermore, an enumeration of transaction data parsing and visualization tools and services is also provided. Finally, we outline several gaps and trends for future investigation in this research area.

show abstract

Section: Signature Behaviors Of Cryptocurrency Economy Agents Minersmentioning

confidence: 99%

Section: Exchanges and Walletsmentioning

confidence: 99%

Knowledge Discovery in Cryptocurrency Transactions: A Survey

et al. 2021

View full text Add to dashboard Cite

show abstract

“…During and after the ICO hype in 2017 the focus of research shifted to topics such as corporate financing and many papers were published dealing with ICOs, their success factors and the value-creation mechanisms behind crypto-tokens (Fisch, 2019;Catalini and Gans, 2018;Florysiak and Schandlbauer, 2019). Several studies conducted descriptive and quantitative (network) analyses on Bitcoin, Ethereum or other cryptocurrencies (Bartoletti and Pompianu, 2017;Anoaica and Levard, 2018;Ferretti and D'Angelo, 2019;Somin et al, 2018;Pinna et al, 2019;Dyson et al, 2020). The work of Bartoletti and Pompianu (2017) itemizes common patterns in the source code of Smart Contracts, while Anoaica and Levard (2018) and Pinna et al (2019) dealt with the identification of high-influence accounts.…”

Section: Related Workmentioning

confidence: 99%

“…Several studies conducted descriptive and quantitative (network) analyses on Bitcoin, Ethereum or other cryptocurrencies (Bartoletti and Pompianu, 2017;Anoaica and Levard, 2018;Ferretti and D'Angelo, 2019;Somin et al, 2018;Pinna et al, 2019;Dyson et al, 2020). The work of Bartoletti and Pompianu (2017) itemizes common patterns in the source code of Smart Contracts, while Anoaica and Levard (2018) and Pinna et al (2019) dealt with the identification of high-influence accounts. pointed out characteristics of Smart Contracts and their creators and showed that most contracts were created by EOAs, however, several contracts were created by other contracts.…”

Section: Related Workmentioning

confidence: 99%

Stablecoin Billionaires - A Descriptive Analysis of the Ethereum-based Stablecoin Ecosystem

Wahrstätter

2020

SSRN Journal

View full text Add to dashboard Cite

While Ethereum, the second largest public blockchain after Bitcoin, was experiencing a story of success over the past few years, Stablecoins grew to an integral component within the Ethereum-based decentralized finance (DeFi) ecosystem.Various issuers of cryptographically-secured digital money emerged and in particular Tether, the most widespread dollar-pegged cryptocurrency, received much attention in recent time. Using empirical data broadcasted by seven different Stablecoins and their Smart Contracts, I statistically examine both Ethereum's Stablecoin landscape as a whole and the individual token ecosystems. By incorporating qualitative information obtained by analyzing the contracts' Solidity code, I discovered extreme concentrations of power within the token contracts of centralized Stablecoins, while decentralized tokens such as DAI lacked structural power imbalances. Analyzing the costs, empirical data revealed that transfers of Stablecoins that are primarily used in decentralized environments, were on average up to eight times more expensive than those carried out with 'centralized' tokens, which could be traced back to an efficiency trade-off in favor of decentralization. Furthermore, I found that emission-and destruction policies have a decisive impact on basic statistical measures such as the mean transfer amount or its standard deviation, both of which depend heavily on the applied distribution mechanism of a token. In an attempt to identify 'High Rollers' within the analyzed ecosystem, the exchanges Huobi and Binance were exposed as Stablecoin billionaires, who together control 20 % of Ethereum's Stablecoin supply. Finally a very unequal distribution of wealth in favour of crypto-exchanges and DeFi applications was revealed.

show abstract

“…The Ethereum is the second most valuable cryptocurrency after the Bitcoin. It is not only a so lution for the digital cryptocurrency, but also supports a vast range of applications based on the smart contracts and the decentralized mechanism over the blockchain networks [34] [9]. Many scenar ios, such as the asset registration, the voting, the management, and the Internet of Things, require a high level of trust, security, and durability.…”

mentioning

confidence: 99%

Mining the Characteristics of the Ethereum P2P Network

Xia

Cui

et al. 2020

Proceedings of the 2nd ACM International Symposium on Blockchain and Secure Critical Infrastructure

View full text Add to dashboard Cite

Ethereum is the typical representative of the second generation of blockchain technology. To achieve anonymity and decentralization, Ethereum utilizes a structured P2P network for data broadcasting, replication, and synchronization. The Ethereum P2P network topol ogy construction profoundly affects the overall Ethereum system performance and reliability. However, there are few studies on the Ethereum underlying P2P overlay network topology. In this paper, we perform a preliminary investigation on this extensive Ethereum P2P system with a comprehensive measurement method combining active and passive methods. We gather Ethereum nodes information by active method for nodes crawling and verification, and we use the passive network traffic monitoring for routing data gathering. After a period of data collection for more than one month, we get a massive data set that has more than 50 million routing data entries. This data set allows us to gain knowledge on the Ethereum network scale and to derive mathematical characteristics of overlay network structure. By analyzing the data set comprehensively, we find that the Ethereum network exhibits both small-world and scale-free characteristics. There are a few critical nodes that have a significant impact on the robustness and vulnerability of the whole system. The Ethereum network also has a very high concentration in terms of network routing, which is very vulnerable to routing attacks.

show abstract

Quantitative Description of Internal Activity on the Ethereum Public Blockchain

Cited by 21 publications

References 9 publications

Knowledge Discovery in Cryptocurrency Transactions: A Survey

Knowledge Discovery in Cryptocurrency Transactions: A Survey

Stablecoin Billionaires - A Descriptive Analysis of the Ethereum-based Stablecoin Ecosystem

Mining the Characteristics of the Ethereum P2P Network

Contact Info

Product

Resources

About