Synergy of Blockchain Technology and Data Mining Techniques for Anomaly Detection

Aida Kamišalić,Renata Kramberger,Iztok Fister

doi:10.3390/app11177987

Aida Kamišalić, Renata Kramberger + Show 1 more

Open Access

https://doi.org/10.3390/app11177987

Copy DOI

Abstract

Blockchain and Data Mining are not simply buzzwords, but rather concepts that are playing an important role in the modern Information Technology (IT) revolution. Blockchain has recently been popularized by the rise of cryptocurrencies, while data mining has already been present in IT for many decades. Data stored in a blockchain can also be considered to be big data, whereas data mining methods can be applied to extract knowledge hidden in the blockchain. In a nutshell, this paper presents the interplay of these two research areas. In this paper, we surveyed approaches for the data mining of blockchain data, yet show several real-world applications. Special attention was paid to anomaly detection and fraud detection, which were identified as the most prolific applications of applying data mining methods on blockchain data. The paper concludes with challenges for future investigations of this research area.

Highlights

Techniques for Anomaly Detection.Blockchain technology [1] might be considered one of the most disruptive technologies of the last decade, which can revolutionise business processes within the private and public sectors
Blockchain technology can benefit from the use of machine learning (ML) algorithms while taking advantage of their ability to provide an analysis for an enormous amount of data
Following the previous section which depicted the features of applications considered in our study systematically, we provide an overall discussion and extraction of key elements that define the taxonomy of data mining methods used for analysing blockchain data

Summary

Introduction

Techniques for Anomaly Detection.Blockchain technology [1] might be considered one of the most disruptive technologies of the last decade, which can revolutionise business processes within the private and public sectors. Machine learning (ML) applications have emerged in recent years, due to the availability of vast amounts of data and the capacity of ML algorithms to provide systems with the ability to learn and improve automatically using past data [4,5]. Blockchain technology can benefit from the use of ML algorithms while taking advantage of their ability to provide an analysis for an enormous amount of data. It can enhance the security of such systems significantly [6,7,8,9]

Objectives

Methods

Results

Discussion

Conclusion