Bitcoin

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 According to the study, a blockchain’s “fullness” is directly related to its security.
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<div class="cointelegraph">
 <p>Researchers from Florida Atlantic University and the University of Mississippi recently published research indicating that blockchains with “full” blocks — especially when there’s a <a rel="noopener noreferrer nofollow" title="transaction" href="https://thebittimes.com/tag/transaction.html">transaction</a> <a rel="noopener noreferrer nofollow" title="queue" href="https://thebittimes.com/tag/queue.html">queue</a> — appear to have an added layer of protection against <a rel="noopener noreferrer nofollow" title="nefarious" href="https://thebittimes.com/tag/nefarious.html">nefarious</a> <a rel="noopener noreferrer nofollow" title="actors" href="https://thebittimes.com/tag/actors.html">actors</a>, money launderers, and would-be fraudsters.&nbsp;</p>
 <p>Dubbed, “Bitcoin Blocksize, Custodial Security, and Price,” the team’s paper takes a deep dive into the Mt.Gox crash and other instances where cryptocurrency has been stolen from crypto exchanges.</p>
 <p>The study’s premise lies in the notion that the perpetrators of illicit activity wish to complete laundering <a rel="noopener noreferrer nofollow" title="transaction" href="https://thebittimes.com/tag/transaction.html">transaction</a>s as soon as possible.</p>
 <p>Per the paper:</p>
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  “This 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 ‘close’ a fraudulently operated one, they want to launder the stolen bitcoin quickly.”
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 <p>The researchers tested their hypothesis by exploiting historical Bitcoin blockchain data and a crypto exchange “scam report.” Using a sample period of 2010 through 2021, they created a “fullness” score for blocks by which to evaluate the data.</p>
 <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>
 <p>Their evaluation, according to the paper, confirmed the team’s hypothesis that “full Bitcoin blocks act as a deterrent to hackers and scammers because they signal <a rel="noopener noreferrer nofollow" title="congestion" href="https://thebittimes.com/tag/congestion.html">congestion</a>.” They also concluded that full blocks “also signal a rise in network security that is captured in price,” thus realizing their second hypothesis that block fullness affected bitcoin price.</p>
 <p>Per the team’s findings, block fullness is cited as 20% lower on the “average day” that has an incidence of a cryptocurrency breach or fraud.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/blockchain-congestion-and-transaction-queues-actually-deter-nefarious-actors-study-tbt68135.html">https://thebittimes.com/blockchain-congestion-and-transaction-queues-actually-deter-nefarious-actors-study-tbt68135.html</a></p>

Blockchain congestion and transaction queues actually deter ‘nefarious actors’ — Study

TheBitTimes

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