Understanding Ethereum via Graph Analysis

Author:

Chen Ting1ORCID,Li Zihao1,Zhu Yuxiao2,Chen Jiachi3,Luo Xiapu3,Lui John Chi-Shing4ORCID,Lin Xiaodong5,Zhang Xiaosong1

Affiliation:

1. Center for Cybersecurity, University of Electronic Science and Technology of China, Chengdu, Sichuan, China

2. School of Management, Guangdong University of Technology; School of Big Data and Strategy, Guangdong University of Technology, Guangzhou, Guangdong Province, China

3. Department of Computing, The Hong Kong Polytechnic University, Hong Kong, China

4. Department of Computer Science 8 Engineering, The Chinese University of Hong Kong, Shatin, NT, Hong Kong, China

5. University of Guelph, Guelph, Ontario, Canada

Abstract

Ethereum, a blockchain, supports its own cryptocurrency named Ether and smart contracts. Although more than 8M smart contracts have been deployed on Ethereum, little is known about the characteristics of its users, smart contracts, and the relationships among them. We conduct the first systematic study on Ethereum by leveraging graph analysis to characterize three major activities on Ethereum, namely money transfer, smart contract creation, and smart contract invocation. We collect all transaction data, construct three graphs from the data to characterize major activities via graph analysis, and discover new insights. Moreover, we address three security issues based on graphs.

Funder

National Natural Science Foundation of China

Hong Kong RGC Project

National Key R8D Program of China

Publisher

Association for Computing Machinery (ACM)

Subject

Computer Networks and Communications

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