On September 17, LongHash releases a publication detailing the functionality of a new bitcoin tracker on its webpage. The tracker allows users to confirm the sources of bitcoin. Therefore, users can identify bitcoins that are performing criminal activities.
The firm explains that the technology will assure investors, and regulators not to involve in murky transactions. LongHash argues that existing anonymous payment mechanisms inadvertently hurt the mass adoption of cryptocurrencies. Hence, there is a need for a tool that will give users insight on the type of person/corporation they are dealing with.
In addition, LongHash clarifies that personal information revelation about bitcoin holder will not be open by the tracker. Instead, it is specially build to change the public perception that cryptocurrency comprises crimes.
LongHash’s Bitcoin Tracker
LongHash’s bitcoin tracker gives users two bitcoin address search options- Fuzzy and Precise. The latter allows users access a comprehensive information when complete characters of a bitcoin address are entered. Some of the information accessible via this search option is transaction history and account balance.
- Fuzzy Search
2. Precise Search
On the other hand, the Fuzzy search option just requires that users enter only a few of the bitcoin address’ characters. While completing, the tracker will list bitcoin addresses that begin with similar characters.
In addition, LongHash will be rating bitcoin addresses by examining their transaction history. The network will give low ratings to addresses linking to illegal transactions. Therefore, this will make bitcoin holders more conscious when it comes to sending and accepting payments.
Apart from these features, tracker also allows bitcoin holders to track the origin of bitcoins in their crypto wallets. This feature will help bitcoin holders identify whether their bitcoin is from mixing services, crypto exchanges, mining pools, gambling sites or inactive addresses.
Image Courtesy- LongHash official site