Evolutionary dynamics of cryptocurrency transaction networks: An empirical study
Liang, Jiaqi1,2; Li, Linjing1; Zeng, Daniel1,2,3
2018-08-17
发表期刊PLOS ONE
卷号13期号:8
文章类型Article
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.
WOS标题词Science & Technology
DOI10.1371/journal.pone.0202202
关键词[WOS]COMPLEX NETWORKS
收录类别SCI
语种英语
项目资助者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)
WOS研究方向Science & Technology - Other Topics
WOS类目Multidisciplinary Sciences
WOS记录号WOS:000442282700017
引用统计
文献类型期刊论文
条目标识符http://ir.ia.ac.cn/handle/173211/21866
专题复杂系统管理与控制国家重点实验室_互联网大数据与信息安全
作者单位1.Chinese Acad Sci, Inst Automat, State Key Lab Management & Control Complex Syst, Beijing, Peoples R China
2.Univ Chinese Acad Sci, Sch Comp & Control Engn, Beijing, Peoples R China
3.Univ Arizona, Dept Management Informat Syst, Tucson, AZ 85721 USA
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Liang, Jiaqi,Li, Linjing,Zeng, Daniel. Evolutionary dynamics of cryptocurrency transaction networks: An empirical study[J]. PLOS ONE,2018,13(8).
APA Liang, Jiaqi,Li, Linjing,&Zeng, Daniel.(2018).Evolutionary dynamics of cryptocurrency transaction networks: An empirical study.PLOS ONE,13(8).
MLA Liang, Jiaqi,et al."Evolutionary dynamics of cryptocurrency transaction networks: An empirical study".PLOS ONE 13.8(2018).
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