Graph based visualisation techniques for analysis of blockchain transactions

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Jeyakumar, Samantha Tharani
Charles, EYA
Hou, Z
Palaniswami, M
Muthukkumarasamy, V
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2021
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Abstract

Blockchain is a digital technology built on three pillars: decentralization, transparency and immutability. Bitcoin and Ethereum are two prevalent Blockchain platforms, where the participants are globally connected in a peer-to-peer manner and anonymously perform trade electronically. The vast number of decentralized transactions and the pseudo-anonymity of participants open the door for scams, cyber frauds, hacks, money laundering and fraudulent transactions. It is challenging to detect such fraudulent activities using traditional auditing techniques, since they need more processing power, time and memory for complex queries to join combinations of tables. This paper proposes several algorithms to extract the transaction- related features from the Bitcoin and Ethereum networks and to represent the features as graphs. Moreover, the paper discusses how visualisation of graphs can reflect the anomalies and patterns of fraudulent activities.

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Proceedings - Conference on Local Computer Networks, LCN
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Subject
Data structures and algorithms
Information systems
Computer hacking
Conferences
Smart contracts
Data visualization
Bitcoin
Feature extraction
Blockchains
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Citation
Jeyakumar, ST; Charles, EYA; Hou, Z; Palaniswami, M; Muthukkumarasamy, V, Graph based visualisation techniques for analysis of blockchain transactions, Proceedings - Conference on Local Computer Networks, LCN, 2021, 2021-October, pp. 427-430