{"id":182428,"date":"2023-10-27T23:21:07","date_gmt":"2023-10-27T17:51:07","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=182428"},"modified":"2023-10-27T23:21:07","modified_gmt":"2023-10-27T17:51:07","slug":"blockchain-congestion-and-transaction-queues-actually-deter-nefarious-actors-study-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/blockchain-congestion-and-transaction-queues-actually-deter-nefarious-actors-study-crypto-news\/","title":{"rendered":"Blockchain congestion and transaction queues actually deter \u2018nefarious actors\u2019 \u2014 Study &#8211; Crypto News"},"content":{"rendered":"<div data-v-8081b7b6=\"\">\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 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=4242246\">deep dive<\/a> 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<blockquote><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><\/blockquote>\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 was analyzed historical data for two specific metrics: how much block fullness contributed to the price of bitcoin, 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. <\/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<\/div>\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":2,"featured_media":182429,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-182428","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/182428","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=182428"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/182428\/revisions"}],"predecessor-version":[{"id":182431,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/182428\/revisions\/182431"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/182429"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=182428"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=182428"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=182428"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}