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Rudimentary Analysis of
Bitcoin Network
Zehady Abdullah Khan
Lab of Professor Hidetoshi Shimodaira
Bachelor 4th year,
Mathematical Science Course,
Department of Information and Computer Sciences,
School Of Engineering Science,
Osaka University.
3/30/2015
1
Bitcoin
• Bitcoin is the first decentralized, widely adopted digital
currency.
• Bitcoin generation process is called Bitcoin Mining.
• Mined in the form of Bitcoin blocks (1 Block = 25 bitcoin).
• Requires immense computational power from dedicated
Bitcoin Miners connecting through internet protocols.
• Each Bitcoin block contains bitcoin transactions.
3/30/2015
2
Bitcoin Transaction
Bitcoin Miner
Sender
Receiver
Chain of Bitcoin Blocks
0.5 BTC
Sample Bitcoin Address : 1F1tAaz5x1HUXrCNLbtMDqcw6o5GNn4xqX
3/30/2015
3
Transaction Diagram
3/30/2015
4
Transaction Network
#Vertices : 974,520
#Directed Edges: 1,558,854
Transaction Graph Data : A directed acyclic graph (no loop, no multi edge)
3/30/2015
5
Transaction Network
3/30/2015
6
User Network
#Vertices : 1,253,054
#Directed Edges: 4,929,950
User Graph Data : Multi edges, loops and directed cycles exist.
3/30/2015
7
User Network
3/30/2015
8
User Clustering Heuristics 1 [2]
3/30/2015
9
Result of Heuristics 1 :
Unique users : 86,641
Isolated Vertices: 795,037
Clustering by Input Addresses
User Clustering Heuristics 2 [1]
3/30/2015
10
Clustering by Change Addresses
• Currently working on this for more robust clustering
What can we do ? [2]
3/30/2015
11
References
1. A Fistful of Bitcoins: Characterizing Payments Among Men with No Names.
ACM Internet Measurement Conference - Sarah Meiklejohn, Marjori Pomarole, Grant Jordan,Kirill, Levchenko
Damon, McCoyy Geoffrey, M. Voelker, Stefan Savage
2. An Analysis of Anonymity in the Bitcoin System.
Fergal Reid, Martin Harrigan
3/30/2015
12
Thank you
3/30/2015
13

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Rudimentary bitcoin network analysis

  • 1. Rudimentary Analysis of Bitcoin Network Zehady Abdullah Khan Lab of Professor Hidetoshi Shimodaira Bachelor 4th year, Mathematical Science Course, Department of Information and Computer Sciences, School Of Engineering Science, Osaka University. 3/30/2015 1
  • 2. Bitcoin • Bitcoin is the first decentralized, widely adopted digital currency. • Bitcoin generation process is called Bitcoin Mining. • Mined in the form of Bitcoin blocks (1 Block = 25 bitcoin). • Requires immense computational power from dedicated Bitcoin Miners connecting through internet protocols. • Each Bitcoin block contains bitcoin transactions. 3/30/2015 2
  • 3. Bitcoin Transaction Bitcoin Miner Sender Receiver Chain of Bitcoin Blocks 0.5 BTC Sample Bitcoin Address : 1F1tAaz5x1HUXrCNLbtMDqcw6o5GNn4xqX 3/30/2015 3
  • 5. Transaction Network #Vertices : 974,520 #Directed Edges: 1,558,854 Transaction Graph Data : A directed acyclic graph (no loop, no multi edge) 3/30/2015 5
  • 7. User Network #Vertices : 1,253,054 #Directed Edges: 4,929,950 User Graph Data : Multi edges, loops and directed cycles exist. 3/30/2015 7
  • 9. User Clustering Heuristics 1 [2] 3/30/2015 9 Result of Heuristics 1 : Unique users : 86,641 Isolated Vertices: 795,037 Clustering by Input Addresses
  • 10. User Clustering Heuristics 2 [1] 3/30/2015 10 Clustering by Change Addresses • Currently working on this for more robust clustering
  • 11. What can we do ? [2] 3/30/2015 11
  • 12. References 1. A Fistful of Bitcoins: Characterizing Payments Among Men with No Names. ACM Internet Measurement Conference - Sarah Meiklejohn, Marjori Pomarole, Grant Jordan,Kirill, Levchenko Damon, McCoyy Geoffrey, M. Voelker, Stefan Savage 2. An Analysis of Anonymity in the Bitcoin System. Fergal Reid, Martin Harrigan 3/30/2015 12

Editor's Notes

  1. Criteria for change address to be owned by the same user: 1. The transaction is not a generation transaction 2. No input address in the output ( no self – change address ) 3. The in degree of that public address is one. This is the first appearance. 4. There’s no other public address with in degree 1.