Karim Helmy Archives

State of the Network Foundations: Hashes

In this week’s State of the Network we return with our Foundations series, which presents various “technical” aspects of blockchain technology in an approachable

June 20, 2023

The Signal & The Nonce

This paper introduces a methodology for determining the market share of every major Bitcoin mining machine, or ASIC, by analyzing

June 13, 2023

Measuring Ethereum Miner Activity

The Ethereum community has always had a somewhat strained relationship with miners. The network’s proof of work algorithm, Ethash, was

March 9, 2021

Following Flows III: Measuring Ethereum Miner Activity

Ethereum and Mining The Ethereum community has always had a somewhat strained relationship with miners. The network’s proof of work

March 8, 2021

Analyzing Miner to Exchange Flows

Miners are often considered natural sellers of bitcoin (BTC). Their revenue is earned from block rewards and transaction fees which

February 23, 2021

Following Flows II: Where do Miners Sell?

Miners are frequently blamed for causing dips in the price of Bitcoin. These accusations are often unsubstantiated—worse still, they’re sometimes

February 22, 2021

Following Flows: A Look at Miners’ On-Chain Payments

Using a new methodology that looks at addresses one hop out from the coinbase transaction, this report quantifies miner holdings

November 3, 2020

Following Flows: A Look at Miners’ On-Chain Payments (Full Length)

Key Takeaways Using a new methodology that looks at addresses one hop out from the coinbase transaction, this report quantifies

November 3, 2020

Measuring Bitcoin’s Decentralization

Over the last eleven years, Bitcoin has managed to function relatively seamlessly in the face of a large number of

September 15, 2020

Measuring Bitcoin’s Decentralization (Full Length)

Key Takeaways Bitcoin’s decentralization can be quantified in terms of supply dispersion, hashpower distribution, and exchange consolidation, among other metrics.