{"id":13822,"date":"2023-10-28T01:04:05","date_gmt":"2023-10-28T01:04:05","guid":{"rendered":"https:\/\/www.cryptoheretostay.com\/?p=13822"},"modified":"2023-10-28T01:04:06","modified_gmt":"2023-10-28T01:04:06","slug":"blockchain-congestion-and-transaction-queues-actually-deter-nefarious-actors-study","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=13822","title":{"rendered":"Blockchain congestion and transaction queues actually deter \u2018nefarious actors\u2019: Study"},"content":{"rendered":"<script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script>\n<p>Researchers from Florida Atlantic University and the University of Mississippi recently published research indicating that blockchains with \u201cfull\u201d blocks \u2014 especially when there\u2019s a transaction queue \u2014 appear to have an added layer of protection against nefarious actors, money launderers and would-be fraudsters.\u00a0<\/p>\n<p>Dubbed \u201cBitcoin Blocksize, Custodial Security, and Price,\u201d the team\u2019s paper takes a deep dive into the Mt. Gox crash and other instances where cryptocurrency has been stolen from crypto exchanges. <\/p>\n<p>The study\u2019s premise lies in the notion that the perpetrators of illicit activity wish to complete laundering transactions as soon as possible. <\/p>\n<p>Per the paper:<\/p>\n<p>\u201cThis investigation is driven by the following intuition: the closer the blocksize is to the limit, the more likely the next transaction will be published on a later block and not the most current one. When these cybercriminals breach a crypto exchange, or \u2018close\u2019 a fraudulently operated one, they want to launder the stolen bitcoin quickly.\u201d<\/p>\n<p>The researchers tested their hypothesis by exploiting historical Bitcoin blockchain data and a crypto exchange \u201cscam report.\u201d Using a sample period of 2010 through 2021, they created a \u201cfullness\u201d score for blocks by which to evaluate the data. <\/p>\n<p>After creating a benchmark, the team analyzed historical data for two specific metrics: how much block fullness contributed to the price of Bitcoin (BTC), and how much block fullness acted as a deterrent for bad actors. <\/p>\n<p>Their evaluation, according to the paper, confirmed the team\u2019s hypothesis that \u201cfull Bitcoin blocks act as a deterrent to hackers and scammers because they signal congestion.\u201d They also concluded that full blocks \u201calso signal a rise in network security that is captured in price,\u201d thus realizing their second hypothesis that block fullness affected Bitcoin price.\u00a0<\/p>\n<p>Per the team\u2019s findings, block fullness is cited as 20% lower on the \u201caverage day\u201d that has an incidence of a cryptocurrency breach or fraud.<\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cointelegraph.com\/news\/blockchain-bitcoin-congestion-transaction-queues-deter-nefarious-actors-study\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Researchers from Florida Atlantic University and the University of Mississippi recently published research indicating that blockchains with \u201cfull\u201d blocks \u2014 especially when there\u2019s a transaction queue \u2014 appear to have an added layer of protection against nefarious actors, money launderers and would-be fraudsters.\u00a0 Dubbed \u201cBitcoin Blocksize, Custodial Security, and Price,\u201d the team\u2019s paper takes a [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":13823,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[2],"tags":[],"class_list":["post-13822","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/13822","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13822"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/13822\/revisions"}],"predecessor-version":[{"id":13824,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/13822\/revisions\/13824"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/13823"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13822"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13822"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13822"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}