“Though relatively small compared with total on-chain network traffic, identified flows between crypto exchanges are significant and substantial economically,” said the study, which initially looked at transactions on the Bitcoin network. “The output of Project Atlas could serve as a starting point for preliminary assessments and inform the drafting of data reporting requirements and regulation of crypto market actors.” The project fuses off-chain data gathered from crypto exchanges with public blockchain data gathered via operating a node, the document said.
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