Provider blockchain and bitcoin solutions Bitfury Group has introduced a new solution aimed at uncovering links between addresses in the bitcoin network. Clustering bitcoin addresses will minimize the error of the analysis of interrelations and enable law enforcement authorities to effectively combat fraud in the blockchain environment.
In its report Bitfury Group reveals a comprehensive approach to the process clustering bitcoin addresses. In addition to analyzing the blockchain technology will be measured and mapped the data outside of the chain, such as, for example, public information on the Internet. This will help to minimize error sources and give the most accurate results. According to the results of the tests conducted by the project team, a new development is significantly superior to all existing solutions.
Valery Vavilov, CEO of Bitfury Group:
«Now users can create multiple addresses, allowing them to hide their identity when committing fraud in the blockchain environment. The ability to find the relationship of addresses, called «clustering» is an important new tool allowing law enforcement to conduct effective investigations.»
Bitfury Group focuses on fraud prevention, but it should be understood that this or any other method deanonimizatsii can be applied to each of the owners of bitcoins.
To the White paper, the new technology clustering bitcoin addresses can be found here.
Recall that in early December last year, the company BitFury Group, announced a partnership with mining company Hut 8 to the project of creating the largest data center to mine bitcoins in North America.