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    Home » In Elliptic and MIT determined the proportion of illegal transactions in the Bitcoin network

    In Elliptic and MIT determined the proportion of illegal transactions in the Bitcoin network

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    By BlockchainJournal on August 4, 2019 News
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    Analytical firm Elliptic, employees of the Massachusetts Institute of Technology (MIT) and IBM corporation used in- depth training methods to determine the proportion of criminal transactions related to a Bitcoin network.

    So, the researchers studied 203,769 transactions, the total cost of which amounted to about $ 6 billion. It turned out that only 2% of these transfers are related to illegal activities.

    The share of "net transactions" is 21%, and all other researchers have marked as "unknown".

    The analysts used the following methods: logistic regression , “ random forest ”, multilayer perceptron, and graph of convolutional networks.

    Recall, according to the company Chainalysis, in 2018 the share of transactions related to criminal activity in the Bitcoin network did not exceed 1%. For comparison – in 2012 this figure was 7%.

    Bitcoin, hacking exchanges and darknet – told about the new report by Chainalysis

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