Multi-Class Bitcoin-Enabled Service Identification Based on Transaction History Summarization

Kentaro Toyoda, Tomoaki Ohtsuki, P. Takis Mathiopoulos

Research output: Chapter in Book/Report/Conference proceedingConference contribution

5 Citations (Scopus)

Abstract

In recent years, Bitcoin has been used for many services and purposes, e.g. gambling, marketplace, but also even as an investment scam. In order to clarify how Bitcoin is used, it is in great importance to identify what kind of services are operated by Bitcoin addresses. In this paper, we propose a multiclass service identification scheme in Bitcoin based on novel transaction history summarization. Our novelty is to propose how transaction history is retrieved and how the retrieved transactions are processed for better identification. When a Bitcoin address is given, the characteristics of its transaction history is calculated as features. Then, the set of calculated features is fed into a supervised classifier and the services operated by the given Bitcoin addresses are identified among seven major services: (i) exchange, (ii) faucet, (iii) gambling, (iv) investment scam, (v) marketplace, (vi) mining pool, and (vii) mixer. To our knowledge, we are the first to propose a multi-class identification. We show that our scheme achieves 72 % of accuracy through performance evaluation with more than 26,000 Bitcoin addresses that have been used for seven services/purposes from Jan. 2009 to Feb. 2017.

Original languageEnglish
Title of host publicationProceedings - IEEE 2018 International Congress on Cybermatics
Subtitle of host publication2018 IEEE Conferences on Internet of Things, Green Computing and Communications, Cyber, Physical and Social Computing, Smart Data, Blockchain, Computer and Information Technology, iThings/GreenCom/CPSCom/SmartData/Blockchain/CIT 2018
PublisherInstitute of Electrical and Electronics Engineers Inc.
Pages1153-1160
Number of pages8
ISBN (Electronic)9781538679753
DOIs
Publication statusPublished - 2018 Jul
Event11th IEEE International Congress on Conferences on Internet of Things, 14th IEEE International Conference on Green Computing and Communications, 11th IEEE International Conference on Cyber, Physical and Social Computing, 4th IEEE International Conference on Smart Data, 1st IEEE International Conference on Blockchain and 18th IEEE International Conference on Computer and Information Technology, iThings/GreenCom/CPSCom/SmartData/Blockchain/CIT 2018 - Halifax, Canada
Duration: 2018 Jul 302018 Aug 3

Publication series

NameProceedings - IEEE 2018 International Congress on Cybermatics: 2018 IEEE Conferences on Internet of Things, Green Computing and Communications, Cyber, Physical and Social Computing, Smart Data, Blockchain, Computer and Information Technology, iThings/GreenCom/CPSCom/SmartData/Blockchain/CIT 2018

Conference

Conference11th IEEE International Congress on Conferences on Internet of Things, 14th IEEE International Conference on Green Computing and Communications, 11th IEEE International Conference on Cyber, Physical and Social Computing, 4th IEEE International Conference on Smart Data, 1st IEEE International Conference on Blockchain and 18th IEEE International Conference on Computer and Information Technology, iThings/GreenCom/CPSCom/SmartData/Blockchain/CIT 2018
CountryCanada
CityHalifax
Period18/7/3018/8/3

ASJC Scopus subject areas

  • Business, Management and Accounting (miscellaneous)
  • Artificial Intelligence
  • Computer Networks and Communications
  • Computer Science Applications
  • Hardware and Architecture
  • Information Systems and Management
  • Health Informatics
  • Communication

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  • Cite this

    Toyoda, K., Ohtsuki, T., & Mathiopoulos, P. T. (2018). Multi-Class Bitcoin-Enabled Service Identification Based on Transaction History Summarization. In Proceedings - IEEE 2018 International Congress on Cybermatics: 2018 IEEE Conferences on Internet of Things, Green Computing and Communications, Cyber, Physical and Social Computing, Smart Data, Blockchain, Computer and Information Technology, iThings/GreenCom/CPSCom/SmartData/Blockchain/CIT 2018 (pp. 1153-1160). [8726486] (Proceedings - IEEE 2018 International Congress on Cybermatics: 2018 IEEE Conferences on Internet of Things, Green Computing and Communications, Cyber, Physical and Social Computing, Smart Data, Blockchain, Computer and Information Technology, iThings/GreenCom/CPSCom/SmartData/Blockchain/CIT 2018). Institute of Electrical and Electronics Engineers Inc.. https://doi.org/10.1109/Cybermatics_2018.2018.00208