A social network analysis of two networks: Adolescent school network and Bitcoin trader network

• Published in: Decision analytics journal 2022-06, Vol.3, p.100065, Article 100065
• Main Authors: Chang, Victor, Hall, Karl, Xu, Qianwen Ariel, Doan, Le Minh Thao, Wang, Zhi
• Format: Article
• Language: English
• Subjects: Cryptocurrency; Dynamic networks; RSiena; Social network analysis
• ISSN: 2772-6622; 2772-6622
• DOI: 10.1016/j.dajour.2022.100065

This paper applies social network analysis in two experiments. In the first experiment, social network analysis is conducted on student friendship networks to find relational patterns. Then, three community detection methods are used to divide the student network. The RSiena package is used to illustrate the coevolution of friendship networks with smoking and drinking behavior. In this experiment, it was determined that in the closed network, same-sex reciprocated relationships are preferred. The second experiment analyzes a weighted trust network that involves users trading with Bitcoin on the BTC-Alpha platform. Since the dealers of Bitcoin are anonymous, there is an urgent need to record every dealer’s credit history to prevent fraud and other security problems. The second experiment aims to improve security problems within the Bitcoin trust network by applying social network analysis. •We perform Social network analysis (SNA) experiments for two different groups.•In the first experiment, same-sex reciprocated relationships are preferred in the closed network.•The second experiment aims to improve security problems within the Bitcoin trust network.•We present how SNA can be applied and analyzed in different domains for interested parties.•The results of our analysis improve the outcome of decision-making.