Abstract
In this brief, we conduct a complex-network analysis of the Bitcoin transaction network. In particular, we design a new sampling method, namely random walk with flying-back (RWFB), to conduct effective data sampling. We then conduct a comprehensive analysis of the Bitcoin network in terms of the degree distribution, clustering coefficient, the shortest-path length, connected component, centrality, assortativity, and the rich-club coefficient. We obtain several important observations including the small-world phenomenon, multi-center status, preferential attachment, and non-rich-club effect of the current network. This work brings up an in-depth understanding of the current Bitcoin blockchain network and offers implications for future directions in malicious activity and fraud detection in cryptocurrency blockchain networks.
Original language | English |
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Pages (from-to) | 1009-1013 |
Number of pages | 5 |
Journal | IEEE Transactions on Circuits and Systems II: Express Briefs |
Volume | 69 |
Issue number | 3 |
DOIs | |
Publication status | Published - Mar 2022 |
Scopus Subject Areas
- Electrical and Electronic Engineering
User-Defined Keywords
- Bitcoin
- Blockchain
- complex network
- network analysis