One BCH Address is Behind 50 Percent of Total Transactions

A single Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term Cash address has been responsible for half of the transactions made on the digital coin's Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term over the past month.

Created on April 8, the address has processes 609,704 transactions as of press time, while the entire Bitcoin Cash network has only processed around 1.2 million transactions in the same period.

This one address accounts for over 50% of $BCH transactions in the last month.https://t.co/eSfJswoZqN

— I am Nomad (@IamNomad) May 5, 2019

Despite the high frequency, most of the transactions involved a fraction of BCH token. The address has received 81.334 BCH worth $23,764 while it sent little more than 77 tokens worth around $22,500, making a balance of $1240 on the wallet.

The forked coin

Bitcoin Cash came into existence in mid-2017, after a chain split of Bitcoin’s blockchain. The coin was created after a dispute in the original digital currency’s core promoters over the increment of its block size to accommodate more transaction data in a single block, increasing the scalability of its network.

Over the years, Bitcoin Cash was praised and criticized by different sections of the community and its key promoter Roger Ver is pushing hard to increase its adoption in the real world.

Bitcoin Cash is currently the fourth largest digital coin in the market with a total capitalization of $5.2 billion. It is trading at around $294 a piece, as seen on CoinMarketCap.com, down from its peak of $4,355, which was achieved in December 2017.

Make it look busy

The forked coin’s transactions spiked since last month, and now with the revelation of the mystery address, it is clear what is driving this massive surge.

#BitcoinCash transactions are up big time since Dec. Let's keep it up.https://t.co/nK0aQtlTSN pic.twitter.com/i4in69AfcP

— Gabriel Cardona (@cgcardona) April 29, 2019

However, it is still not clear who is operating the address and its real purpose. According to a theory, the transactions numbers were spiked to make the network look busy, while many optimists are predicting that it is being done to test the performance of the network.