Mining the wealth of information in the BitCoin blockchain is nothing new, but BitCluster goes a long way to make sense of the information you’ll find there. The tool was released by Mathieu Lavoie and David Decarty-Hetu, PH.D. on Friday following their talk at HOPE XI.
I greatly enjoyed sitting in on the talk which began with some BitCoin basics. The cryptocurrency uses user generated “wallets” which are essentially addresses that identify transactions. Each is established using key pairs and there are roughly 146 million of these wallets in existence now
If you’re a thrifty person you might think you can get one wallet and use it for years. That might be true of the sweaty alligator-skin nightmare you’ve had in your back pocket for a decade now. It’s not true when it comes to digital bits — they’re cheap (some would say free). People who don’t generate a new wallet for every transaction weaken their BitCoin anonymity and this weakness is the core of BitCluster’s approach.
Every time you transfer BitCoin (BTC) you send the network the address of the transaction when you acquired the BTCs and sign it with your key to validate the data. If you reuse the