Google scientist finds BCH is being hoarded, not used in microtransactions

05 Feb, 2019 | Updated: 05 Feb, 2019
by Richard Allen
News
Google scientist finds BCH is being hoarded, not used in microtransactions

Senior Developer Advocate for Google Cloud, Allen Day, has discovered Bitcoin Cash isn’t being used for the microtransactions it was originally designed for. Instead, it's being hoarded by large holders of Bitcoin Cash, Forbes reports.

“I’m very interested to quantify what’s happening so that we can see where the legitimate use cases are for blockchain,” Day says. “Then we can move to the next use case and develop out what these technologies are really appropriate for.”

Read more: Bitcoin.org founder: "Bitcoin Cash is dead"

Additionally, Day has discovered some mysterious usage of artificial intelligence in Ethereum’s blockchain. What’s weird is that the AI seems to be making a concerted effort, into what, Day isn’t sure just yet.

Day found a “whole bunch” of “autonomous agents” moving funds around “in an automated fashion.” While the origins of its creation remain a mystery, Day suspects that they could be used by exchanges trading among themselves to artificially inflate Ether’s price.

“It’s not really just single agents doing things on their own,” Day said. “They’re forming with other agents to have some larger group effect.”

In 2018, Google filed a patent for the use of a “lattice” of interoperating blockchains designed to increase security. Amongst all the news of exchange hacks, increased security can’t come soon enough.

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