Bitcoin

Most transactions on XRP, EOS and Tezos carry no value

Some research has found that out The vast majority of transactions with EOS, Tezos and XRP carry no value.

According to a research report published on arXiv’s prepress page Only 2% of XRP ledger transactions and 18% of Tezos (XTZ) transactions result in value transfers. It was found that between October 1, 2019 and December 31, 2019, 95% of the transactions in EOS were associated with the launch of an token from the air that is currently of no value.

Daniel Pérez of Imperial College London and Jiahua Xu and Benjamín Livshits of UCL Blockchain are the authors of “We know what they went through: repetition of highly scalable blockchain transactions”, which are said to be the “first detailed analysis for” large format of three of the most commonly used high performance block chains. “

18 accounts accounted for 50% of all XRP transactions

Most transactions on XRP, EOS and Tezos carry no value
Most transactions on XRP, EOS and Tezos carry no value

The researchers ranked chain transactions and measured each category based on the total number. In essence, they found that Blockchains have been able to process many transactions, but are not currently used for particularly useful purposes.

“Our analysis shows that only a small portion of the transactions are used for value transfer purposes … and only 2% of the transactions in the XRP book result in value transfers.”

That’s what David Schwartz, Ripple’s chief technology officer, said Spam was just a test of the speed, affordability, and capacity of the ledger.

“Transactions are so quick and cheap, and the ledger has so much capacity, little incentive to show no txns with a value close to zero,” he said. Most of the transactions were harmless bots that fought for position in the order books, he said. Increasing the transaction price would solve the spam problem at the expense of discouraging rewarding transactions.

The team monitored a total of 90,000 accounts, on which 150 million XRP transactions were completed in 2019. However, a third of the accounts made a single transaction.and 18 accounts linked to Huobi accounted for half of the total number of transactions.

These accounts are descendants of a Huobi exchange account or they often trade with Huobi descendants. All made transactions with CNY and used the same label day.

EOS and XTZ

During the period examined 95% of the transactions in EOS involved the introduction of the EIDOS token, a token that has practically no value. Indeed:

“Before the introduction of the EIDOS token, about 50% of it was a gambling transaction. The rest were split between token transfers and various forms of entertainment, e.g. B. Gambling without gambling and payments to pornography websites. “

Backup

At Tezos, 82% of the transactions were in security blocks. “This is because at least 32 endorsements have to be confirmed for each block and the number of transactions in the network is still small,” the document says. “The rest of the production is mainly used to transfer assets between accounts.”

The researchers concluded that Although it was clear that these three blockchains had the ability to perform well, their potential “has so far not been fully exploited for the intended purposes“”

Critics could argue that Bitcoin SV is following a similar path after recording 1.2 million transactions in a single block today.

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