‘Sin’ Activities No Longer Drive Bitcoin Economy, Researchers Find

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A soon-to-be-released investigate centers on evidence that bitcoin’s marketplace has grown to a indicate where commerce is no longer driven by unlawful activities.

Drafted by researchers from a executive bank of Germany, University College London and a University of Wisconsin-Madison, a paper argues that bitcoin has upheld by 3 graphic phases of expansion as a distributed remuneration system, a many new and stream of that they claim is driven by “legitimate payments, commerce and services”.

As such, a investigate sheds light on a pivotal doubt that a bitcoin network continues to face: whether it should face some-more inspection than other, some-more determined remuneration networks.

The paper reads:

“Our formula advise that some new concerns per a use of bitcoin for bootleg exchange during a benefaction time competence be overstated, and that whatever such exchange might exist could serve lessen as a bitcoin economy continues to mature.”

For a study, researchers Paolo Tasca, Shaowen Liu and Adam Hayes sought to de-anonymize a database stoical of “millions” of pseudonymous bitcoin addresses, that they worked to distill into “super clusters” they claim are owned by one entity or managed collectively.

From there, a researchers sought to arrange these clusters of addresses into 4 categories –

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