Transaction tracking algorithms developed by Bitfury group



  • The Bitfury group, which is a large mining company, has recently disclosed that they have developed an algorithm that is able to track Bitcoin transactions. 

    More particularly, the algorithm expands on traditional blockchain auditing software and uses "transaction clustering" in order to identify a collection of addresses and associate them with one entity. 

    https://www.coinbureau.com/news/bitfury-unveils-technology-track-bitcoin-transactions/

    While they say they are doing this in order to track crime on the blockchain, many view it as an invasion of privacy on the network which leads to mistrust in other participants.  

    What are your views? Do you think that it is more indication that users should consider privacy conscious coins?



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