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Security incidents such as scams and hacks, have become a major threat to the health of the blockchain ecosystem, causing billions of dollars in losses each year for blockchain users. To reveal the real-world entities behind the…

Cryptography and Security · Computer Science 2023-06-01 Zhiying Wu , Jieli Liu , Jiajing Wu , Zibin Zheng

Around three quarters of Bitcoin transactions take place off-chain. Despite their significance, the vast majority of the empirical literature on cryptocurrencies focuses on on-chain transactions. This paper presents one of the first…

General Economics · Economics 2026-02-10 Pavel Ciaian , d'Artis Kancs , Miroslava Rajcaniova

We investigate Bitcoin network monitoring the dynamics of blocks and transactions. We unveil that 43\% of the transactions are still not included in the Blockchain after 1h from the first time they were seen in the network and 20\% of the…

Computers and Society · Computer Science 2017-04-06 Giuseppe Pappalardo , T. Di Matteo , Guido Caldarelli , Tomaso Aste

The Ethereum blockchain network enables transaction processing and smart-contract execution through levies of transaction fees, commonly known as gas fees. This framework mediates economic participation via a market-based mechanism for gas…

General Finance · Quantitative Finance 2025-01-10 Lennart Ante , Aman Saggu

Following the birth of Bitcoin and the introduction of the Ethereum ERC20 protocol a decade ago, recent years have witnessed a growing number of cryptographic tokens that are being introduced by researchers, private sector companies and…

Physics and Society · Physics 2020-04-20 Shahar Somin , Goren Gordon , Alex Pentland , Erez Shmueli , Yaniv Altshuler

Smart contracts, self-executing programs on the blockchain, facilitate reliable value exchanges without centralized oversight. Despite the recent focus on dynamic analysis of their transaction histories in both industry and academia, no…

Software Engineering · Computer Science 2024-07-16 Zhiyang Chen , Ye Liu , Sidi Mohamed Beillahi , Yi Li , Fan Long

This paper introduces the recent work of Nebula Graph, an open-source, distributed, scalable, and native graph database. We present a system design trade-off and a comprehensive overview of Nebula Graph internals, including graph data…

Databases · Computer Science 2022-06-16 Min Wu , Xinglu Yi , Hui Yu , Yu Liu , Yujue Wang

In this paper, we explore some stylized facts of the Bitcoin market using the BTC-USD exchange rate time series of historical intraday data from 2013 to 2020. Bitcoin presents some very peculiar idiosyncrasies, like the absence of…

Statistical Finance · Quantitative Finance 2024-09-04 F. N. M. de Sousa Filho , J. N. Silva , M. A. Bertella , E. Brigatti

The presented work continues the line of recent distributed computing communityefforts dedicated to the theoretical aspects of blockchains. This paper is the rst tospecify blockchains as a composition of abstract data types all together…

Distributed, Parallel, and Cluster Computing · Computer Science 2018-05-15 Emmanuelle Anceaume , Antonella Del Pozzo , Romaric Ludinard , Maria Potop-Butucaru , Sara Tucci-Piergiovanni

Bitcoin and its underlying technology, blockchain, have gained significant popularity in recent years. Satoshi Nakamoto designed Bitcoin to enable a secure, distributed platform without the need for central authorities, and blockchain has…

Computers and Society · Computer Science 2022-12-13 Cuneyt Gurcan Akcora , Yulia R. Gel , Murat Kantarcioglu

Blockchains are gaining momentum due to the interest of industries and people in \emph{decentralized applications} (Dapps), particularly in those for trading assets through digital certificates secured on blockchain, called tokens. As a…

Cryptography and Security · Computer Science 2024-02-22 Giampaolo Bella , Domenico Cantone , Cristiano Longo , Marianna Nicolosi-Asmundo , Daniele Francesco Santamaria

This paper investigates the temporal patterns of activity in the cryptocurrency market with a focus on Bitcoin, Ethereum, Dogecoin, and WINkLink from January 2020 to December 2022. Market activity measures - logarithmic returns, volume, and…

Trading and Market Microstructure · Quantitative Finance 2023-08-22 Marcin Wątorek , Maria Skupień , Jarosław Kwapień , Stanisław Drożdż

Unlike Ethereum, which was conceived as a general-purpose smart-contract platform, Bitcoin was designed primarily as a transaction ledger for its native currency, which limits programmability for conditional applications. This constraint is…

Cryptography and Security · Computer Science 2026-02-11 Giulio Caldarelli

We assess the applicability of rough volatility models to Bitcoin realized volatility using the normalised p-variation framework of Cont and Das (2024). Applying this model-free estimator to high-frequency Bitcoin data from 2017 to 2024…

Statistical Finance · Quantitative Finance 2025-09-30 Milan Pontiggia

This research paper presents a thorough economic analysis of Bitcoin and its impact. We delve into fundamental principles, and technological evolution into a prominent decentralized digital currency. Analysing Bitcoin's economic dynamics,…

General Economics · Economics 2023-10-18 Ishmeet Matharoo

Cryptocurrencies, such as Bitcoin, are becoming increasingly popular, having been widely used as an exchange medium in areas such as financial transaction and asset transfer verification. However, there has been a lack of solutions that can…

Computation and Language · Computer Science 2020-03-12 Shubhankar Mohapatra , Nauman Ahmed , Paulo Alencar

Blockchain technology, with implications in the financial domain, offers data in the form of large-scale transaction networks. Analyzing transaction networks facilitates fraud detection, market analysis, and supports government regulation.…

Computational Engineering, Finance, and Science · Computer Science 2025-01-23 Junliang Luo , Xue Liu

Scaling laws offer a powerful lens to understand complex transactional behaviors in decentralized systems. This study reveals distinctive statistical signatures in the transactional dynamics of ERC20 tokens on the Ethereum blockchain by…

Statistical Finance · Quantitative Finance 2025-08-07 Kundan Mukhia , SR Luwang , Md. Nurujjaman , Tanujit Chakraborty , Suman Saha , Chittaranjan Hens

Non-fungible tokens (NFTs) serve as a representative form of digital asset ownership and have attracted numerous investors, creators, and tech enthusiasts in recent years. However, related fraud activities, especially phishing scams, have…

Cryptography and Security · Computer Science 2025-12-02 Wenkai Li , Zongwei Li , Xiaoqi Li , Chunyi Zhang , Xiaoyan Zhang , Yuqing Zhang

A non-fungible token (NFT) is a data unit stored on the blockchain. Nowadays, more and more investors and collectors (NFT traders), who participate in transactions of NFTs, have an urgent need to assess the performance of NFTs. However,…

Computer Vision and Pattern Recognition · Computer Science 2023-07-04 Fan Yan , Xumeng Wang , Ketian Mao , Wei Zhang , Wei Chen