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Visual Analytics for Monitoring and Exploration of Bitcoin Blockchain Data

Abstract : Bitcoin is a pioneer cryptocurrency that records transactions in a public distributed ledger called the blockchain. It has been used as a medium for payments, investments, and digital wallets that are not controlled by any government or financial institution. Over the past ten years, transaction activities in Bitcoin have increased rapidly. The volume and evolving nature of its data pose analysis challenges to explore diverse groups of users and different activities on the network. The field of Visual Analytics (VA) has been working on the development of analytical systems that allow humans to interact and gain insights from complex data. In this thesis, I make several contributions to the analysis of Bitcoin mining activity. First, I provide a characterization of the past work and research challenges related to VA for blockchains. From this assessment, I proposed a VA tool to understand mining activities that ensure data integrity and security on the Bitcoin blockchain. I propose a method to extract miners from the transaction data and trace pool hopping behavior. The empirical analysis of this data revealed that emerging mining pools provided a better incentive to attract miners. Simultaneously, miners strategically chose mining pools to maximize their profit. To explore the evolution and dynamics of this activity over the long term, I developed a VA tool called MiningVis that integrates mining behavior data with contextual information from Bitcoin statistics and news. The user study demonstrates that Bitcoin miner participants use the tool to analyze higher-level mining activity rather than mining pool details. The evaluation of the tool proves that it helped participants to relate multiple information and discover historical trends of Bitcoin mining.
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Submitted on : Wednesday, February 16, 2022 - 5:51:07 PM
Last modification on : Saturday, April 16, 2022 - 3:17:22 AM


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  • HAL Id : tel-03577664, version 1


Natkamon Tovanich. Visual Analytics for Monitoring and Exploration of Bitcoin Blockchain Data. Human-Computer Interaction [cs.HC]. Université Paris-Saclay, 2022. English. ⟨NNT : 2022UPASG010⟩. ⟨tel-03577664⟩



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