Quantum-like Spectral Coherence in Ethereum Transaction Networks

Abstract

We analyze the Ethereum transaction network using a spectral decomposition based on functional edge modes. Each transaction is represented as a complex amplitude indexed by the combined connectivity of the interacting addresses, and amplitudes are aggregated into mode-resolved coherent sums. Applying this construction to a snapshot of native ETH transfers from the second half of 2015 (∼1.9 × 10 6 transactions across 26,937 addresses), we identify spectral modes whose coherent power significantly exceeds that obtained under randomized phase baselines. Statistical significance is assessed via B = 1000 phase permutations with multiple-testing correction: 469 of 928 modes (50.5%) survive Benjamini-Hochberg control at the 5% false discovery rate, while none survive the more conservative Bonferroni threshold. Strong global coherence is primarily driven by high-degree nodes: removing the top 0.1% of nodes by degree (27 hubs) collapses the bulk of the spectrum towards the randomized baseline. However, statistically significant residual coherence persists across roughly half of the tested modes, indicating that organization in the network is not purely an artifact of hub aggregation. We frame these findings through a quantum-like analogy in which phase-aligned edge contributions interfere constructively, and discuss implications for the structural analysis of decentralized financial systems.