# Complex Network Analysis of the Bitcoin Transaction Network

arXiv: https://arxiv.org/abs/2203.09026 · HTML: https://mlsanity.com/paper/2203.09026/

## Key facts

- Cited by 4 papers in the map (data through 14 Oct 2026).
- First posted on arXiv 17 Mar 2022.

## Built on by (most cited first, 4 of 4)

- [BABD: A Bitcoin Address Behavior Dataset for Pattern Analysis](https://mlsanity.com/paper/2204.05746/) (2022)
- [Large Language Models for Cryptocurrency Transaction Analysis: A Bitcoin Case Study](https://mlsanity.com/paper/2501.18158/) (2025)
- [Temporal and Geographical Analysis of Real Economic Activities in the Bitcoin Blockchain](https://mlsanity.com/paper/2307.08616/) (2023)
- [Clustering and analysis of user behaviour in blockchain: A case study of Planet IX](https://mlsanity.com/paper/2504.11702/) (2025)

## Abstract (arXiv)

In this brief, we conduct a complex-network analysis of the Bitcoin transaction network. In particular, we design a new sampling method, namely random walk with flying-back (RWFB), to conduct effective data sampling. We then conduct a comprehensive analysis of the Bitcoin network in terms of the degree distribution, clustering coefficient, the shortest-path length, connected component, centrality, assortativity, and the rich-club coefficient. We obtain several important observations including the small-world phenomenon, multi-center status, preferential attachment, and non-rich-club effect of the current network. This work brings up an in-depth understanding of the current Bitcoin blockchain network and offers implications for future directions in malicious activity and fraud detection in cryptocurrency blockchain networks.