Novelty detection refers to the process of identifying unusual patterns or anomalies within data, specifically in the context of transactions or activities across blockchain networks. This concept is crucial for maintaining security and integrity, as it helps in spotting illicit activities such as fraud, money laundering, or other forms of manipulation.In practice, novelty detection employs various algorithms and machine learning techniques to analyze transaction data. The goal is to differentiate between normal behavior and atypical activity that could indicate potential threats.For users and developers, implementing effective novelty detection systems means enhancing the overall safety of their platforms. By automatically flagging suspicious transactions, the risk of loss or damage can be significantly reduced. Additionally, it allows for a proactive approach in addressing emerging threats and ensuring compliance with regulatory standards. As the landscape of digital currencies evolves, the importance of novelty detection becomes increasingly relevant, contributing to a more secure and trustworthy environment.