Correction to: Analyzing outliers activity from the time-series transaction pattern of bitcoin blockchain

Abstract

In a closed economic system like blockchain, the total amount of generated cryptocurrency called bitcoin is conserved and the transaction patterns demonstrate an insight of money flow inside the blockchain. For the last 2 years, bitcoin market has grabbed an immense attention from the investors, technology entrepreneurs and currency enthusiasts. In this paper, we have come up with some findings in our investigation about the bitcoin time-series transaction patterns. We have graphically represented bitcoin's weekly patterns as a real economic currency that has been minted, stored and exchanged inside the bitcoin blockchain network. We identified outliers' activities with the help of descriptive statistical analysis. We also demonstrated transaction pattern behavioral change. The main implication of these findings is to understand some stylized facts of the time-series transaction of cryptocurrency-based fully digital financial system. Besides in our analysis, we have shown that the behavioral change of the transaction pattern is capable of explaining the system development events or major historical events that have a network impact.