SoK_Blockchain_Decentralization
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20 hours ago •
SciEcon
SciEcon
The Decentralization Index of Blockchain Transactions: the Entropy of Token Transfers on Ethereum
SoK: Blockchain Decentralization
Read our paper on arXIV:arxiv.org/abs/2205.04256
Supplementary resources, data, and code
by Luyao Zhang*+, Xinshi Ma+, and Yulin Liu*+
*: joint corresponding authors
+: joint first authors
| Folder | Contents |
|---|---|
| Data_Coinmetrics | ERC20 Tokens market metrics and data |
| Data_TokenIndex | Decentralization Index (Updated Daily) |
| Data_EIP1559 | EIP1559 adoption data |
| code | Code used to produce analysis in the paper |
| tutorial | Sample calculation of Decentralization Index |
| conference_invitations | |
| figures |
Table of Contents
1. Coinmetrics Market Data
1.1 Table of Data Files
| Name | Token | File Name |
|---|---|---|
| Bitcoin | BTC | btc.csv |
| Ethereum | ETH | eth.csv |
| Dai | DAI | dai.csv |
| Sai | SAI | sai.csv |
| Aave | AAVE | aave_met.csv |
| Compound | COMP | comp_met.csv |
| Maker | MKR | mkr_met.csv |
| Uniswap | UNI | uni_met.csv |
| Sushiswap | SUSHI | sushi_met.csv |
| Balancer | BAL | bal_met.csv |
| RenVM | REN | ren_met.csv |
| Synthetix | SNX | snx_met.csv |
| Nexus Mutual | NXM | nxm_met.csv |
1.2 Data Dictionary
| Variable Name | Unit | Frequency | Description |
|---|---|---|---|
| CapMrktCurUSD | USD | Daily | Market capitalization in USD: The sum USD value of the current supply. |
| PriceUSD | USD | Daily | The fixed closing price of the asset as of 00:00 UTC the following day |
| VtyDayRet30d | Percent per annum | Daily | The 30 day volatility, measured as the standard deviation of the natural log of daily returns over the past 30 days. |
| TxTfrValAdjUSD | USD | Daily | The USD value of the sum of native units transferred between distinct addresses that interval removing noise and certain artifacts. |
| TxTfrCnt | Number | Daily | Daily transaction count |
1.3 More about Data Source
Description of other variables can be found in the Coinmetrics Docs
2. Data_TokenIndex
2.1 Table of Data Files: Decentralization Index (Shannon Entropy) of Top DeFi Tokens
| Name | Token | First Observation Date | File Name |
|---|---|---|---|
| Aave | AAVE | 2020-10-02 | Aave_ent.csv |
| Compound | COMP | 2020-06-14 | Comp_ent.csv |
| Maker | MKR | 2017-12-15 | Maker_ent.csv |
| Dai | DAI | 2019-11-18 | Dai_ent.csv |
| Sai | SAI | 2017-12-18 | Sai_ent.csv |
| Liquity | LQTY | 2021-04-05 | Lqty_ent.csv |
| Uniswap | UNI | 2020-09-18 | Uni_ent.csv |
| Sushiswap | SUSHI | 2020-08-26 | Sushi_ent.csv |
| Balancer | BAL | 2020-06-20 | Bal_ent.csv |
| Bancor | BNT | 2017-06-17 | Bnt_ent.csv |
| Convex Curve | CVXCRV | 2021-05-17 | CVXCRV_ent.csv |
| Convex | CVX | 2021-05-17 | CVX_ent.csv |
| Fei Protocol | TRIBE | 2020-3-28 | Tribe_ent.csv |
| RenVM | REN | 2017-12-31 | Ren_ent.csv |
| Flexa | AMP | 2019-01-09 | Fxc_ent.csv |
| Tornado Cash | TORN | 2020-12-18 | Torn_ent.csv |
| Synthetix | SNX | 2020-05-11 | Snx_ent.csv |
| Nexus Mutual | NXM | 2019-05-23 | Nxm_ent.csv |
2.2 Data Dictionary: Decentralization Index of Top DeFi Tokens
| Variable Name | Unit | Frequency | Description |
|---|---|---|---|
| val | N/A | Daily | Decentralization Index value of transaction decentralization over the entire day before 00:00 UTC the following day |
| date | N/A | Daily | The corresponding date index was calculated for |
2.3 More about Data Source: Decentralization Index of Top DeFi Tokens
Caculated from Google BigQuery Ethereum dataset token transfers table.
3. Data_EIP1559
3.1 Data Dictionary
| Variable Name | Unit | Frequency | Description |
|---|---|---|---|
| block_number | None | Per Block | Unique identifier for each block in the blockchain. Used to reference and access specific blocks. |
| all_gpcount | Count | Per Block | Total count of transactions at different gas prices within a specific block or set of blocks. |
| all_mfcount | Count | Per Block | Total count of maximum fees associated with transactions in a block. |
| all_prcount | Count | Per Block | Count of transactions given a priority status, possibly due to higher fees or other criteria. |
| legacy_gpcount | Count | Per Block | Count of transactions using the old gas price system. |
| timestamp | Unix Time | Per Block | Timestamp indicating when the block was mined, typically recorded in Unix time. |
| lag_timestamp | Unix Time | Per Block | Timestamp of the previous block, used to calculate time intervals between consecutive blocks. |
| block_time | Seconds | Per Block | Duration between the current block and the previous block, measured in seconds. |
4. Code
| Content | Section of Paper | URL |
|---|---|---|
| Decentralization_Classes | Section 4: Data and Empirical Analysis | https://github.com/SciEcon/SoK_Blockchain_Decentralization/blob/main/code/Decentralization_Classes.ipynb |
| Top_DeFi_Decentralization_Visualizations | Section 4.2: Descriptive Analysis | https://github.com/SciEcon/SoK_Blockchain_Decentralization/blob/main/code/Top_DeFi_Decentralization_Visualizations.ipynb |
| SAI_DAI_Decentralization_Analysis | Section 4.3: Predictive Analysis | https://github.com/SciEcon/SoK_Blockchain_Decentralization/blob/main/code/Top_DeFi_Decentralization_Visualizations.ipynb |
| Decentralization Index Daily Update | N/A | https://github.com/SciEcon/SoK_Blockchain_Decentralization/blob/main/code/daily-query.ipynb |
| EIP-1559 Analysis | Section 4.4: Causal Inference | https://github.com/SciEcon/SoK_Blockchain_Decentralization/blob/main/code/EIP1559_Analysis.ipynb |
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