Bitcoin Blockchain Mining

 

Title
Bitcoin Blockchain Mining

Topic
The Bitcoin Blockchain is a public decentralized network in which all the bitcoin transactions (and all the bitcoins) are stored. Currently, there is 15 Gb of transaction data. This vast data source contains an opportunity to map the behaviour of bitcoin users. Although most users use Bitcoin for legitimate purposes, the additional anonomity (such as bitcoin mixers, per-transaction account addresses) of Bitcoins were exploited by criminals to perform illegal activities. Analysis of the Blockchain could identify these criminal patterns. This analysis has gained additional interest when the criminal e-bay clone Silkroad was seized by the FBI.

This is an exloratory Big Data project to find out how much semantic information can be gathered from the block chain.

Some suggested research questions are:

– What is the distribution of money across accounts?
– How long do the bitcoin owners keep their bitcoins?
– Can we identify suspicious patterns in the transactions?
– Can we match different bitcoin addresses to the same accounts?
– Can we map the money flow around Silkroad?

More information
http://blockchain.info/
https://bitcoin.org/nl/
http://blockchain.info/address/1F1tAaz5x1HUXrCNLbtMDqcw6o5GNn4xqX
https://bitmixer.io/

Company/Organization
Internal LIACS

Student Profile
CS
Some affinity with economics is a plus.

Time frame
Sept 2014

Scientific Challenge
Pattern mining

Advisor
Ben Ruijl
Aske Plaat

Information: ben.ruijl@gmail.com

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