Visibility Graph Analysis of IOTA and IoTeX Price Series: An Intentional Risk-Based Strategy to Use 5G for IoT

Partida, Alberto; Criado, Regino; Romance, Miguel

doi:10.3390/electronics10182282

Cited by 11 publications

(2 citation statements)

References 27 publications

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“…This indicates a large structural centralisation where those removed nodes were effectively acting as hubs in the transaction network, involved in the majority of the transactions. In the information security realm, intentional risk managers should protect these nodes the most [ 14 , 15 , 39 , 40 , 41 ]. We also performed additional dismantling for up to 10k nodes for each of the tokens, but this did not show qualitatively different results.…”

Section: Resultsmentioning

confidence: 99%

The Structural Role of Smart Contracts and Exchanges in the Centralisation of Ethereum-Based Cryptoassets

Collibus

Piškorec

Partida

et al. 2022

Entropy

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In this paper, we use the methods of networks science to analyse the transaction networks of tokens running on the Ethereum blockchain. We start with a deep dive on four of them: Ampleforth (AMP), Basic Attention Token (BAT), Dai (DAI) and Uniswap (UNI). We study two types of blockchain addresses, smart contracts (SC), which run code, and externally owned accounts (EOA), run by human users, or off-chain code, with the corresponding private keys. We use preferential attachment and network dismantling strategies to evaluate their importance for the network structure. Subsequently, we expand our view to all ERC-20 tokens issued on the Ethereum network. We first study multilayered networks composed of Ether (ETH) and individual tokens using a dismantling approach to assess how the deconstruction starting from one network affects the other. Finally, we analyse the Ether network and Ethereum-based token networks to find similarities between sets of high-degree nodes. For this purpose, we use both the traditional Jaccard Index and a new metric that we introduce, the Ordered Jaccard Index (OJI), which considers the order of the elements in the two sets that are compared. Our findings suggest that smart contracts and exchange-related addresses play a structural role in transaction networks both in DeFi and Ethereum. The presence in the network of nodes associated to addresses of smart contracts and exchanges is positively correlated with the success of the token network measured in terms of network size and market capitalisation. These nodes play a fundamental role in the centralisation of the supposedly decentralised finance (DeFi) ecosystem: without them, their networks would quickly collapse.

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Section: Resultsmentioning

confidence: 99%

The Structural Role of Smart Contracts and Exchanges in the Centralisation of Ethereum-Based Cryptoassets

Collibus

Piškorec

Partida

et al. 2022

Entropy

Self Cite

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“…All of them benefit from the properties of a public blockchain with Turing-complete computing power. Examples are decentralised finance (DeFi), as mentioned in Section 4, Internet of Things (IoT)-related tokens [9,10] and an extensive variety of other fungible and non-fungible tokens (NFTs). Fungible tokens are exchangeable, i.e., similar to traditional coins, while non-fungible tokens are unique and distinguishable.…”

Section: Ethereummentioning

confidence: 99%

Modeling Bitcoin plus Ethereum as an Open System of Systems of Public Blockchains to Improve Their Resilience against Intentional Risk

et al. 2022

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In this article, we model the two most market-capitalised public, open and permissionless blockchain implementations, Bitcoin (BTC) and Ethereum (ETH), as a System of Systems (SoS) of public blockchains. We study the concepts of blockchain, BTC, ETH, complex networks, SoS Engineering and intentional risk. We analyse BTC and ETH from an open SoS perspective through the main properties that seminal System of Systems Engineering (SoSE) references propose. This article demonstrates that these public blockchain implementations create networks that grow in complexity and connect with each other. We propose a methodology based on a complexity management lever such as SoSE to better understand public blockchains such as BTC and ETH and manage their evolution. Our ultimate objective is to improve the resilience of public blockchains against intentional risk: a key requirement for their mass adoption. We conclude with specific measures, based on this novel systems engineering approach, to effectively improve the resilience against intentional risk of the open SoS of public blockchains, composed of a non-inflationary money system, “sound money”, such as BTC, and of a world financial computer system, “a financial conduit”, such as ETH. The goal of this paper is to formulate a SoS that transfers digital value and aspires to position itself as a distributed alternative to the fiat currency-based financial system.

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On the Use of VGs for Feature Selection in Supervised Machine Learning - A Use Case to Detect Distributed DoS Attacks

Lopes,

Partida,

Pinto

et al. 2024

Communications in Computer and Information Science

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Visibility Graph Analysis of IOTA and IoTeX Price Series: An Intentional Risk-Based Strategy to Use 5G for IoT

Cited by 11 publications

References 27 publications

The Structural Role of Smart Contracts and Exchanges in the Centralisation of Ethereum-Based Cryptoassets

The Structural Role of Smart Contracts and Exchanges in the Centralisation of Ethereum-Based Cryptoassets

Modeling Bitcoin plus Ethereum as an Open System of Systems of Public Blockchains to Improve Their Resilience against Intentional Risk

On the Use of VGs for Feature Selection in Supervised Machine Learning - A Use Case to Detect Distributed DoS Attacks

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