Brushing or testing? A single address contributes half of the total number of transactions in the BCH network

According to the tweet posted by Twitter user @IamNomad on May 6, in the past month, the number of transactions in an address in the Bitcoin Cash (BCH) network accounted for more than half of the total number of transactions in the network.

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Image source: Flickr

According to the Bitcoin cash blockchain browser, this mysterious account has completed more than 587,000 transactions since it began trading on April 8 this year . Many transactions contain very few BCHs (the transfer amount is very small), and these transactions are regular, with three to four new transactions per second. As of press time, the address has received US$23,738.65 (81.330 BCH) and US$22,491 (77.066 BCH) has been sent with a balance of US$1,244.38 (4.263 BCH).

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Source: Bitcoin.com

During the period from the creation of the address to the time of publication, the entire Bitcoin cash blockchain has processed 1.17 million transactions, approximately half of which are from the above wallets . One commenter believes that the frequency of this transaction may indicate that someone is trying to increase the number of transactions and make the network look more busy than it actually is.

Others believe that a large number of small transactions are a test that may be used in a game. Game developers are using the low transaction costs of the BCH network to test their products.

Bitcoin cash is one of the best cryptocurrencies in the market in the past week. BCH's hard fork upgrade plan is scheduled for May 15th, and will undergo code changes in terms of capacity expansion and privacy to improve the privacy and scalability of BCH.

On May 6, it was reported that Fidelity had provided encrypted trading services to its institutional clients in a few weeks. Earlier, officials of the US Commodity Futures Trading Commission said that the CFTC intends to approve the compliance Ethereum futures. The market is doing a good job. As of press time, BCH rose 2.05% and temporarily reported $297.50.