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Are decentralized finance really decentralized? A social network analysis of the Aave protocol on the Ethereum blockchain. (arXiv:2206.08401v1 [econ.GN])
cs.CR updates on arXiv.org arxiv.org
Decentralized finance (DeFi) has the potential to disrupt centralized finance
by validating peer-to-peer transactions through tamper-proof smart contracts
and thus significantly lower the transaction cost charged by financial
intermediaries. However, the actual realization of peer-to-peer transactions
and the levels and effect of decentralization are largely unknown. Our research
pioneers a blockchain network study that applies social network analysis to
measure the level, dynamics, and impacts of decentralization in DeFi token
transactions on Ethereum blockchain. First, we find a significant
core-periphery …
analysis blockchain decentralized ethereum finance network network analysis social social network