New blockchain project generates 20% of all daily Bitcoin transactions

posted 2 months ago
Bitcoin developers recently noticed strange activity on the blockchain. A large number of unidentified OP_RETURN transactions were discovered. OP_RETURN is a type of Bitcoin transaction used for embedding data into the blockchain. It is used for anything from proving the existence of some data at a specific point in time (proof-of-existence) to issuing new assets.

Over the weekend, it become known that the entity behind these transactions is VeriBlock, a project that piggybacks on the Bitcoin blockchain in an effort to better secure alternative crypto asset networks. According to Casa CTO Jameson Lopp and VeriBlock’s own block explorer, VeriBlock has grown to the point where it now accounts for roughly 20% of all daily Bitcoin transactions.
Tags: bitcoin, blockchain, news