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Authors: Annika Baumann ; Benjamin Fabian and Matthias Lischke

Affiliation: Humboldt University Berlin, Germany

Keyword(s): Electronic Cash, Bitcoin, Network Analysis.

Related Ontology Subjects/Areas/Topics: Artificial Intelligence ; Data Mining ; Databases and Information Systems Integration ; Enterprise Information Systems ; e-Payment ; Sensor Networks ; Signal Processing ; Social Networks and Organizational Culture ; Society, e-Business and e-Government ; Soft Computing ; Web Information Systems and Technologies

Abstract: This explorative paper focuses on descriptive statistics and network analysis of the Bitcoin transaction graph based on recent data using graph mining algorithms. The analysis is carried out on different aggregations and subgraphs of the network. One important result concerns the relationship of network usage and exchange rate, where a strong connection could be confirmed. Moreover, there are indicators that the Bitcoin system is a “small world” network and follows a scale-free degree distribution. Furthermore, an example of how important network entities could be deanonymized is presented. Our study can serve as a starting point in investigating anonymity and economic relationships in Bitcoin on a new structural level.

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Paper citation in several formats:
Baumann, A.; Fabian, B. and Lischke, M. (2014). Exploring the Bitcoin Network. In Proceedings of the 10th International Conference on Web Information Systems and Technologies - Volume 2: WEBIST; ISBN 978-989-758-023-9; ISSN 2184-3252, SciTePress, pages 369-374. DOI: 10.5220/0004937303690374

@conference{webist14,
author={Annika Baumann. and Benjamin Fabian. and Matthias Lischke.},
title={Exploring the Bitcoin Network},
booktitle={Proceedings of the 10th International Conference on Web Information Systems and Technologies - Volume 2: WEBIST},
year={2014},
pages={369-374},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0004937303690374},
isbn={978-989-758-023-9},
issn={2184-3252},
}

TY - CONF

JO - Proceedings of the 10th International Conference on Web Information Systems and Technologies - Volume 2: WEBIST
TI - Exploring the Bitcoin Network
SN - 978-989-758-023-9
IS - 2184-3252
AU - Baumann, A.
AU - Fabian, B.
AU - Lischke, M.
PY - 2014
SP - 369
EP - 374
DO - 10.5220/0004937303690374
PB - SciTePress