Unravelling Stablecoin-Favored Ecosystem: Extracting, Exploring On-Chain Data from TRON Blockchain
摘要
Cryptocurrencies and Web3 applications based on traditional blockchain, like Bitcoin and Ethereum, have flourished in the research field. Unlike traditional ones, due to TRON’s unique architectural designs, TRON has developed a more welcoming and distinctive ecosystem and application scenarios centered around the stablecoin USDT. Although it is popular in areas like stablecoin payments and settlement, research on analyzing on-chain data from the TRON blockchain is remarkably scarce. To fill this gap, this paper proposes a comprehensive data extraction and exploration framework for the TRON blockchain. A well-designed ETL (Extract Transform and Load) system aims to efficiently extract raw on-chain data from TRON, including blocks, transactions, smart contracts, and receipts, establishing a research dataset. An in-depth analysis of the extracted dataset reveals insights into TRON’s block generation, transaction trends, the dominance of exchanges, the resource delegation market, smart contract usage patterns, and the central role of the USDT stablecoin. The prominence of gambling applications and potential illicit activities related to USDT is emphasized. The paper discusses opportunities for future research leveraging this dataset. These contributions enhance blockchain data management capabilities and understanding of the rapidly evolving TRON ecosystem.