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According to a study conducted by Chainalysis, only 37% of bitcoin addresses are economically relevant, as they are controlled by some person or service that BTC currently maintains.
Approximately 147 million accounts (that is, 86%) are owned by some service, such as a cryptocurrency exchange house or DarkNet markets. Therefore, it is inferred that the remaining 14% belongs to private investors.
Only 27 million maintain the cryptocurrency. Therefore, addresses that are not classified as economically relevant, are used to a large extent to facilitate payments between people and services, and contain bitcoin for a short time. These are directions of change or “connective tissue”.
To clarify the idea of what economically relevant addresses are, the company states that when a transaction is made with bitcoin for a certain amount, the network registers the total of bitcoins that are in a portfolio, regardless of whether the amount to be mobilized is less than the totality that is possessed. Therefore, the portfolio is economically relevant or with real economic value, insofar as it keeps balances in cryptocurrencies.
Consider a person who has ten bitcoins and wants to sell one. Due to the way in which the technology works, the seller must empty his address of the ten bitcoins, but he will receive nine instead. Although it only sold one bitcoin, the block chain reports a total transaction value of ten bitcoins.
Chainalysis
In this regard, the firm adds that only 20% of the value of bitcoin transactions represents an economic transfer, while the remaining 80% is “returned as a change”. This happens, the firm estimates, because bitcoin addresses, like email addresses, are free and easy to configure, and there is no limit to the number of people or companies that can have an address.
In that sense, Chainalysis ensures that between August and October of 2018 approximately $ 41 billion in transactions were executed, of which only $ 9 billion had real economic value.
For the research team these data on transactions are relevant insofar as they help organizations navigate and understand the complexity of a network “where a part of the accounts contains bitcoin and only a small proportion of transactions have economic value” . This makes it easier for them to make decisions about their own offers, he concludes.
Source: www.criptonoticias.com
Learn more about Blockchain technology at icashweb.com
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