Header

UZH-Logo

Maintenance Infos

Bow-tie structure of the Polkadot transfer network


Piskorec, Matija; James Murphy, Ben Domenic; Rüegsegger, Florian; Niya, Sina Rafati; Tessone, Claudio J (2023). Bow-tie structure of the Polkadot transfer network. In: 2023 IEEE International Conference on Blockchain and Cryptocurrency (ICBC), Dubai, United Arab Emirates, 1 May 2023 - 5 May 2023. Institute of Electrical and Electronics Engineers, 10174939.

Abstract

While there are many data collection and analysis tools for Ethereum - the largest smart contract blockchain by market capitalization, development of similar tools for other smart contract blockchains is lacking. Reasons for this are non-existent standards, changing specifications d ue t o rapid development, common usage of the off-chain storage, and lack of developers. One of such blockchains is Polkadot - a layer- zero blockchain featuring a single relay chain whose role is to secure smart contract transactions on multiple other parachains. In this paper we describe a data collection pipeline for Polkadot blockchain that we then use to perform an analysis of the bow-tie structure of its transfer network over time, with special emphasis on the role of nominators and validators in this structure. We find evidence that t he Polkadot ecosystem iss lowly maturing from a system dominated by nominators and validators, both of which require some technical skill as well as willingness to bond sufficient amount of funds, into a system increasingly populated by regular users using the financial services of Polkadot.

Abstract

While there are many data collection and analysis tools for Ethereum - the largest smart contract blockchain by market capitalization, development of similar tools for other smart contract blockchains is lacking. Reasons for this are non-existent standards, changing specifications d ue t o rapid development, common usage of the off-chain storage, and lack of developers. One of such blockchains is Polkadot - a layer- zero blockchain featuring a single relay chain whose role is to secure smart contract transactions on multiple other parachains. In this paper we describe a data collection pipeline for Polkadot blockchain that we then use to perform an analysis of the bow-tie structure of its transfer network over time, with special emphasis on the role of nominators and validators in this structure. We find evidence that t he Polkadot ecosystem iss lowly maturing from a system dominated by nominators and validators, both of which require some technical skill as well as willingness to bond sufficient amount of funds, into a system increasingly populated by regular users using the financial services of Polkadot.

Statistics

Citations

Dimensions.ai Metrics

Altmetrics

Downloads

6 downloads since deposited on 19 Feb 2024
6 downloads since 12 months
Detailed statistics

Additional indexing

Item Type:Conference or Workshop Item (Paper), not_refereed, original work
Communities & Collections:03 Faculty of Economics > Department of Informatics
Dewey Decimal Classification:000 Computer science, knowledge & systems
Scopus Subject Areas:Social Sciences & Humanities > Accounting
Physical Sciences > Information Systems
Social Sciences & Humanities > Information Systems and Management
Social Sciences & Humanities > Economics and Econometrics
Scope:Discipline-based scholarship (basic research)
Language:English
Event End Date:5 May 2023
Deposited On:19 Feb 2024 10:42
Last Modified:26 Feb 2024 14:36
Publisher:Institute of Electrical and Electronics Engineers
Series Name:IEEE International Conference on Blockchain and Cryptocurrency
ISSN:2832-8906
ISBN:979-8-3503-1019-1
OA Status:Green
Publisher DOI:https://doi.org/10.1109/icbc56567.2023.10174939
  • Content: Accepted Version
  • Language: English
  • Licence: Creative Commons: Attribution 4.0 International (CC BY 4.0)