Level: MAP
Responsible Person: Prof. Dr Claudio J. TessoneDr. Sheng Nan Li
Keywords: BlockSci, UTXO, Database construction, Data analysis, Economic indexes 

The rapid expansion of blockchain technologies and cryptocurrencies has led to an increasing need for in-depth analysis and understanding of transaction behavior across different systems. This project introduces students by using BlockSci, a powerful open-source blockchain analysis tool designed for handling large-scale blockchain data, to detailed explora and manipulate of blockchain transactions, and do a research in cryptocurrency economics. 

Leveraging a rich dataset already collected by BDLT across multiple blockchain platforms, such as Bitcoin, Bitcoin Cash, Litecoin, Feathercoin, Dogecoin, and Monacoin, this project aims to create a structured, multi-blockchain dataset that organizes transaction and block information uniformly across these systems. Students will work on constructing this dataset, ensuring consistency and completeness in tracking transaction flows, block timestamps, and network statistics across various platforms. 

Once the structured dataset is built, students will conduct a comprehensive analysis of key economic metrics across different cryptocurrencies. The analyses will include, but are not limited to: 

• Gini Index: Measuring wealth inequality within each blockchain ecosystem. 

• MicroVelocity: Assessing the speed at which coins circulate within each network. 

• Centralization Analysis: Evaluating the distribution of control and power, especially among mining pools and large stakeholders. 

• Transaction Fees and UTXO-reusage: Comparing the transaction fee structures and UTXO-reusage statistical properties across different systems. 

• Network Efficiency and Scalability: Analyzing the trade-offs between decentralization, transaction throughput, and block size. 

Through this comparative study, students will gain valuable insights into the economic dynamics of various blockchain systems, highlighting their similarities and differences. This project will not only enhance technical skills in data handling and blockchain analytics but also provide an interdisciplinary perspective, bridging the gap between economics and blockchain technology. 

References: 

• Campajola, C., Cristodaro, R., De Collibus, F. M., Yan, T., Vallarano, N., & Tessone, C. J. (2022). The evolution of centralisation on cryptocurrency platforms. arXiv preprint arXiv:2206.05081. 
• Campajola, C., D'Errico, M., & Tessone, C. J. (2022). MicroVelocity: rethinking the Velocity of Money for digital currencies. arXiv preprint arXiv:2201.13416.