The 10th International P2PFISY Workshop 2024 is being held in Dubai Learn More
Prof. Paolo Tasca
Shaowen Liu
Adam Hayes
UCL, Deutsche Bundesbank, University of Wisconsin-Madison
2016
The Evolution of the Bitcoin Economy: Extracting and Analyzing the Network of Payment Relationships

In this paper, the authors gather together the minimum units of Bitcoin identity (the individual addresses), and group them into approximations of business entities, what they call “super clusters”. While these clusters can remain largely anonymous, authors are able to ascribe many of them to particular business categories by analyzing some of their specific transaction patterns, as observed during the period from 2009-2015. We are then able to extract and create a map of the network of payment relationships among them, and analyse transaction behaviour found in each business category.