Understanding Ethereum via Graph Analysis

Ting Chen, Zihao Li, Yuxiao Zhu, Jiachi Chen, Xiapu Luo, John Chi Shing Lui, Xiaodong Lin, Xiaosong Zhang

Research output: Journal article publicationJournal articleAcademic researchpeer-review

63 Citations (Scopus)


Ethereum, a blockchain, supports its own cryptocurrency named Ether and smart contracts. Although more than 8M smart contracts have been deployed on Ethereum, little is known about the characteristics of its users, smart contracts, and the relationships among them. We conduct the first systematic study on Ethereum by leveraging graph analysis to characterize three major activities on Ethereum, namely money transfer, smart contract creation, and smart contract invocation. We collect all transaction data, construct three graphs from the data to characterize major activities via graph analysis, and discover new insights. Moreover, we address three security issues based on graphs.

Original languageEnglish
Article number3381036
Pages (from-to)1-32
JournalACM Transactions on Internet Technology
Issue number2
Publication statusPublished - May 2020


  • Blockchain
  • contract creation graph
  • contract invocation graph
  • Ethereum
  • graph analysis
  • money flow graph

ASJC Scopus subject areas

  • Computer Networks and Communications


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