Cambridge University Encrypted Currency Research Significant Discovery


nnPost Comment: Cambridge University released a comprehensive study of encrypted money, the study found a major discovery, including the number of users and wallet, the emerging encryption money industry, the impact of the technology, as well as the exchange to pay and mining interesting information.n
nTranslation: Annie_Xun
Cambridge University released a 114-page comprehensive study of encrypted currencies, in-depth analysis of the global digital money field of empirical data.n
The major findings of this study included the number of users and wallet, the emerging encryption money industry, the technical impact, and interesting information about the exchange payments and mining.n
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Encrypted money industryn
As a new industry, need to collect some information to determine how much the impact of digital money. New companies and services emerge to support encrypted currency work, and their data shows that this is indeed the market to be developed.n
The study found that there were 1,876 individuals engaged in full-time work in the encrypted money industry. Among them, most of the relevant work in the Asia-Pacific region, the number is 720. Followed by North American 676 related practitioners.n
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Exchange informationn
Information about the exchange shows the situation of digital money users, since most people associated with encrypted money have some kind of online wallet. However, the study shows that it is almost impossible to know how many people really use the encrypted currency.n
Studies have shown that the largest number of European exchanges, followed by the Asia-Pacific. In March 2017, Bitfinex was the highest market share in the exchange, accounting for 16%. However, 25% of the total market share is the sum of a group of small exchanges.n
Overall, the dollar or the highest national currency, appeared in 65% of the exchange. The euro took the second with 49%.n
In the study of the exchange, the Swiss currency, Monroe, poly dollar, the currency, ETC is also very popular.n

Interestingly, these deals of millions of dollars only need 11 employees. 49% of the exchange staff less than 11.n
These online exchanges operate mainly by holding the user’s private key. In fact, 73% of the exchanges control the user’s private key, hosting the user’s encrypted money.n
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Wallet informationn
Studies have shown that the number of active wallet is between $ 5.8 million and $ 11.5 million. The gap in this range is so large that it may be related to the definition of an active wallet, since many users are actively storing the encrypted currency.n
Most active wallet users from North America and Europe, each accounted for 30%.n

Active wallet, only 32% of the use of closed-source software, while the other 68% are open source, mobile wallet app use rate of 65%.n
More than half of the surveyed purse suppliers provide currency trading services; another 20% provide associated credit card services.n
However, even more worrying is that almost half of the money-trading services provided by the wallet is compatible with third-party exchanges, causing security problems.n
The recent digital currency regulation shows that 76% of the purse suppliers are not licensed.n
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Mining informationn
Mining and large-scale mines contribute to the development of digital money ecology, and because of their importance, they are aware of their influence and strength.n
August 1 deployment of the seizure of the witness (SegWit) so that more than half of miners that their impact on the development of a large agreement.n
Miners and users oppose each other, want to activate different agreements; although half of the large pool to recognize their influence, but perhaps not as a single miner’s power.n

However, the larger pool still thinks that it has a greater impact on the agreement.n
58% of the large pool in China, which is very reasonable, and therefore China is seen as an important part of Bitcoin mining, while the agreement is also important to upgrade. The United States ranked second with 16%.n
Despite the rise in digital currency prices, mining gains fluctuate. In accordance with the real-time exchange rate of US dollars, 2014 annual investment in bitcover than in 2016 (block reward + transaction fee).n
In 2014, the total reached $ 786 million, compared with $ 563 million in 2016; perhaps because of the increased difficulty in mining, especially in the special currency mining.n
However, the real increase is the bitter currency transaction fee, 2016 to reach 13.6 million US dollars, while the previous three years and the sum of only 7 million US dollars.n

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