Trailing bitcoins customized with BlockTrail

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CryptoCurrency Daily Review: New York State to regulate Bitcoin; BTC Narrow Range suggests wider move soon; LTC needs a breakout above 9.00
CryptoCurrency Daily Review: New York State to regulate Bitcoin; BTC Narrow Range suggests wider move soon; LTC needs a breakout above 9.00

CryptoCurrency Daily Review: New York State to regulate Bitcoin; BTC Narrow Range suggests wider move soon; LTC needs a breakout above 9.00

One of the main reasons for bitcoins gaining traction in recent times has been its anonymity factor. The principle behind the development of bitcoins, in particular, has been the freedom to mine bitcoins.

Through bitcoin analysis, the origins of bitcoin are now traceable thanks to a new platform built by BlockCorp, a Netherlands-based bitcoin research group.

BlockCorp has a great body of research work in bitcoin analysis, which the company has now captured and developed into a platform for customized search. In the development of an entire platform, Blockcorp will take on the likes of established players in bitcoin analysis – Blockchain.info and Blockr.

BlockTrail allows those interested, to find out the origins of bitcoins through comprehensive analysis of the transactions, the trails as well as complete look at the network data.

The uniqueness of this platform is the customized bitcoin analysis the software supports.

BlockTrail CEO Boaz Bechar in a conversation, shared that though trailing bitcoins is quite a challenge, given their anonymous characteristics, there already exists tools and techniques, which are currently used to find out not just bitcoin addresses, but to affirm if the transactions are associated with gambling.

Bechar commented that,

“We could imagine a day in the future where people will evaluate where the money has come from.”

The reason for BlockTrail’s development as an analysis tool was necessitated by BlockCorp’s vision to bring higher levels of accessibility to sophisticated Trailing of bitcoins.

As the founder CEO lamented, currently only those who have access or are able to wade through complex data analysis are able to trail and investigate, leaving the common user helpless.

The new BlockTrail platform, which also has Vkontakte of LevLeviev as the co-foundeer, will ensure institutions and governments have the ways and mean to know the origins of bitcoin addresses as well as establish gambling transactions.

To contact the reporter of this story: Deepak Tiwari at deepak@forexminute.com