Biteye: A System for Tracking Bitcoin Transactions

Abstract

Blockchain is a public distributed ledger, which has the characteristics of decentralization and anonymization, which leads to the frequent occurrence of money laundering and theft. Taking Bitcoin as an example, traders can have multiple addresses, and these addresses have nothing to do with their identities in real life, their identities are difficult to identify, and it is difficult to track the flow of transaction funds on the blockchain. This paper proposes a transaction tracking system that can effectively and accurately track the source and destination of a certain amount of funds on the blockchain, which is superior to existing Bitcoin transaction tracking methods and has a substantial reference value.