Karim is a Senior R&D Analyst at Coin Metrics. He’s focused on network data and is particularly interested in mining, privacy, and derivatives. Karim was formerly an independent researcher and graduated from Carnegie Mellon University with a degree in Statistics and Machine Learning.
By Coin Metrics|2023-03-24T17:49:39-04:00March 9, 2021|Karim Helmy, Nate Maddrey, State of the Network|
The Ethereum community has always had a somewhat strained relationship with miners. The network’s proof of work algorithm, Ethash, was explicitly designed to be resistant to ASIC mining and hence miner professionalization. Since then, the network’s migration to Proof of [...]
By Coin Metrics|2021-03-09T01:53:10-05:00March 8, 2021|Karim Helmy, Original Research|
Ethereum and Mining The Ethereum community has always had a somewhat strained relationship with miners. The network’s proof of work algorithm, Ethash, was explicitly designed to be resistant to ASIC mining and hence miner professionalization. Since then, the network’s migration [...]
By Coin Metrics|2023-03-24T17:41:48-04:00February 23, 2021|Karim Helmy, State of the Network|
Miners are often considered natural sellers of bitcoin (BTC). Their revenue is earned from block rewards and transaction fees which are paid out in BTC. But their costs, like electricity and rent, are paid using fiat currencies. Miners therefore need [...]
By Coin Metrics|2021-02-23T16:22:58-05:00February 22, 2021|Karim Helmy, Original Research|
Miners are frequently blamed for causing dips in the price of Bitcoin. These accusations are often unsubstantiated—worse still, they’re sometimes based on faulty metrics that conflate mining pool payouts with miner spending, ultimately misleading their users. Accurately assessing the degree [...]
By Coin Metrics|2023-03-24T17:41:58-04:00November 3, 2020|Karim Helmy, State of the Network|
Using a new methodology that looks at addresses one hop out from the coinbase transaction, this report quantifies miner holdings and activity. This approach improves on previous attempts at tracking miner spending, which inadvertently measured pool operator activity rather than [...]
By Coin Metrics|2021-03-03T01:53:06-05:00November 3, 2020|Karim Helmy, Original Research|
Key Takeaways Using a new methodology that looks at addresses one hop out from the coinbase transaction, this report quantifies miner holdings and activity. This approach improves on previous attempts at tracking miner spending, which inadvertently measured pool operator activity [...]
By Coin Metrics|2023-03-24T12:14:54-04:00September 15, 2020|Karim Helmy, State of the Network|
Over the last eleven years, Bitcoin has managed to function relatively seamlessly in the face of a large number of threats, largely due to its lack of a single controlling entity. This trait, known as decentralization, encompasses a large number [...]
By Coin Metrics|2021-02-05T21:44:29-05:00September 15, 2020|Karim Helmy, Original Research|
Key Takeaways Bitcoin’s decentralization can be quantified in terms of supply dispersion, hashpower distribution, and exchange consolidation, among other metrics. Key metrics like the number of active addresses and the network’s hashrate continue to rise. Bitcoin’s supply is becoming more [...]
By Coin Metrics|2023-03-24T12:14:16-04:00August 4, 2020|Karim Helmy, State of the Network|
The crypto market is still young and the contract structure of derivatives varies across exchanges. Derivatives lack a standard methodology by which to calculate indexes and funding payments, and documentation in this space is generally difficult to follow. While these [...]
By Coin Metrics|2021-02-05T22:31:33-05:00August 4, 2020|Karim Helmy, Original Research|
Key Takeaways The derivatives market is fragmented and contract terms differ dramatically across exchanges. The quality of documentation in the space varies. We analyzed how each exchange structures their perpetual swaps, which are a type of derivative that approximates the [...]
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