Blockchain analysis is the process of inspecting, identifying, grouping, modeling, and visually representing the data contained in the blockchain. As we know, blockchain technology allows us to have a distributed ledger visible and searchable by anyone. Obviously, this feature belongs to public blockchains, the discourse is relatively different when we are dealing with new-generation blockchains such as Corda or Hyperledger. In any case the features of transparency and immutability are often used to justify the value of DLTs.
And what about data?
Are we maybe forgetting them? Of course not, as you probably know data is considered the new digital oil. It’s raw, it needs to be extracted, and blockchains contain lots of it, immutable and available to anyone. In this non-exhaustive article, we will see what are some applications of blockchain analysis. With a focus on the bitcoin blockchain, we will see how you can create value from analyzing the raw data contained in blockchains.