Research on Bitcoin Inscriptions Risk Monitoring

Abstract

With the proposal of Bitcoin ordinal theory, Bitcoin inscriptions have gradually become an industry hotspot, which promotes the development of Bitcoin ecology, but also brings the risk of digital content on the Bitcoin chain. For example, inscriptions containing politically sensitive or pornographic information are fully uploaded and permanently stored on the chain in a tamper-proof manner, so Bitcoin inscriptions are more risky than Ether NFTs. In this paper, we propose a bitcoin inscription parsing method, which parses the inscriptions from the original bitcoin transactions, solidifies evidence of wallet addresses associated with risky inscriptions, extracts all the inscriptions inscribed by the associated wallet addresses with the information of the on-chain transactions, and realizes the on-chain risk monitoring of bitcoin inscriptions. Meanwhile, this paper implements a risk monitoring system for Bitcoin inscriptions and associated addresses. The experimental results show that the bitcoin inscription parsing method proposed in this paper can effectively parse out all the on-chain inscriptions of bitcoin, and the risk monitoring system can effectively monitor risky bitcoin inscriptions and their associated addresses.