Australian review shows drop in illicit purchases with Bitcoin

The research paper named “Sex, Drugs and bitcoin”, published by Sean Foley, Talis Putnins and Jonathan Karlsen tracked the illegal activity all the way back to 2009
01 December 2017   1654

According to the recent research by Australian experts illegal activities performed with the use of Bitcoin, while dropped, still constitutes the third of all the transaction taking place worldwide. All the data points to the fact that the illegal activities peaked in 2014 and have been decreasing ever since. From the total of 106 million users only 34 to 36 million perform operations which involve the purchases in “darknet” and other nefarious activities. Foley stated, that it wasn't unexpected, because practically all the market had been established by pushing the legal limits, but the real evolution begins only when the regulators step in to clean up the perpetrators and put down the new rules.

This research paper will be a stepping stone to further examination of current digital currency trends, because it involved revolutionary analysis methods. Foley, Putnins and Karlsen had to develop new analytic models to reference recent Bitcoin seizures by authorities to real users. While Bitcoin is prised for its anonymity, the 33-character “name” still can be tied back to the end user because all the relevant information is stored in the blockchain. The next logical step was to create a detection algorithm based on the notable characteristics of nefarious activity taken from the sample of known users, involved in illegal proceedings. All this information is then used to estimate and infer other users, involved in the illegal activity.

The research is designed to help authorities adequately understand the amount of work needed to regulate the alternative currencies as an asset being quickly adopted by the ever-increasing amount of people in the world.

Lightning Network Wallet by Breez to be Out For iOs

Solution is based on the lightweight client called Neutrino and it wallet supports Submarine Swaps technology
18 June 2019   215

The Breez payment platform introduced a non-custodial wallet for iPhone that supports the Lightning Network protocol.

The basis of the new product is a lightweight client Neutrino. It is also known that the wallet supports Submarine Swaps technology, which makes it possible to conduct transactions between online addresses and the Lightning Network.

The company's blog says that immediately after installation, the application automatically connects the channel to the so-called Breez hub connected to other Lightning nodes, which allows the user to conduct transactions with any participants in the second-level network. In addition, according to the founder of the company, Ron Scheinfeld, the possibility of a refund is provided in the event of challenging purchases.

In a Lightning economy, people trade money for goods and services. Intermediaries — banks, credit cards, online payment processors, and custodians of any kind — are obsolete. All that remains are the people, trading with each other anywhere, anytime, free to do what each of them thinks is best with their own money. Scale is no longer a concern. Transactions are virtually instantaneous and practically free. The people are free too. Finally.

Roy Sheinfeld
Co-Founder and CEO, Breez

The company also noted that within only two months after the release of the version for Android, Breez benefited from "hundreds of users." Currently, the wallet is in beta.

On the eve of the release of the iOS application, the startup managed to attract $ 500,000 from Recruit Strategic Partners and Fulgur Ventures. The funds will be used to develop an application for merchants, allowing them to accept Lightning-payments.