Quotation Filtz, Erwin, Polleres, Axel, Karl, Roman, Haslhofer, Bernhard. 2017. Evolution of the Bitcoin Address Graph - An Exploratory Longitudinal Study . In: Data Science – Analytics and Applications, Hrsg. Peter Haber, Thomas Lampoltshammer, Manfred Mayr, 77-82. Wiesbaden: Springer.


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Abstract

Bitcoin is a decentralized virtual currency, which can be used to execute pseudo-anonymous payments globally within a short period of time and comparably low transaction costs. In this paper, we present initial results of a longitudinal study conducted over the Bitcoin address graph, which contains all addresses and transactions from the beginning of Bitcoin in January 2009 until 31st of August 2016. Our analysis reveals a highly-skewed degree distribution with a small number of outliers and illustrates that the entire graph is expanding rapidly. Furthermore, it demonstrates the power of address clustering heuristics for identifying real-world actors, who prefer to use Bitcoin for transferring rather than storing value. We believe that this paper provides novel insight into virtual currency ecosystems, which can inform the design of future analytics methods and infrastructures.

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Publication's profile

Status of publication Published
Affiliation WU
Type of publication Chapter in edited volume
Language English
Title Evolution of the Bitcoin Address Graph - An Exploratory Longitudinal Study
Title of whole publication Data Science – Analytics and Applications
Editor Peter Haber, Thomas Lampoltshammer, Manfred Mayr
Page from 77
Page to 82
Location Wiesbaden
Publisher Springer
Year 2017
Reviewed? Y
URL https://link.springer.com/chapter/10.1007/978-3-658-19287-7_11
ISBN 978-3-658-19287-7

Associations

Projects
Graphsense - Realtime Anomaly Detection in Virtual and Non-Virtual Currency Networks
People
Filtz, Erwin (Details)
Polleres, Axel (Details)
External
Haslhofer, Bernhard (Austrian Institute of Technology, Austria)
Karl, Roman (Austrian Institute of Technology, Austria)
Organization
Institute for International Business IN (Details)
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