Detecting Bot Activity in the Ethereum Blockchain Network

Understand

The Ethereum blockchain network is a decentralized platform enabling smart contract execution and transactions of Ether (ETH) [1], its designated cryptocurrency.

• Ethereum is the second most popular cryptocurrency with a market cap of more than 100 billion USD, with hundreds of thousands of transactions executed daily by hundreds of thousands of unique wallets.
• Tens of thousands of those wallets are newly generated each day.
• The Ethereum platform enables anyone to freely open multiple new wallets [2] free of charge (resulting in a large number of wallets that are controlled by the same entities).