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Ethereum’s Proof of Stake System – Calculating Penalties & Rewards

Abstract After launching our Ethereum Proof of Stake (PoS) validator node a few weeks ago, in our first detailed look at the PoS system,...

Mapping Out The Macro Endgame

Abstract Following on from our February 2019 piece, “Anatomy Of The Next Global Financial Crisis” and our March 2020 piece “Inflation Is Coming”, we...

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A collection of the most popular articles on Research.

The Complete Works


Ethereum’s Proof of Stake System – Calculating Penalties & Rewards

Mapping Out The Macro Endgame

BitMEX Research Is Now An Ethereum Staker

Proof of Reserves & Liabilities – BitMEX Demonstration

Fixing The Privacy Gap In Proof Of Liability Protocols

The Blocksize War – Chapter 21 – Victory

The Blocksize War – Chapter 20 – SegWit2x

The Blocksize War – Chapter 19 – Bitcoin Cash

The Blocksize War – Chapter 18 – New York Agreement

The Blocksize War – Chapter 17 – User-Activated Softfork

The Blocksize War – Chapter 16 – Litecoin

The Blocksize War – Chapter 15 – Dragons’ Den

The Blocksize War – Chapter 14 – ASICBoost

The Blocksize War – Chapter 13 – Exchanges


The Blocksize War – Chapter 12 – Bitcoin Unlimited

The Blocksize War – Chapter 11 – Scaling III – Milan

The Blocksize War – Chapter 10 – The DAO

Out of Order Block Validation with Utreexo Accumulators

Faster Blockchain Validation with Utreexo Accumulators

The Blocksize War – Chapter 9 – Faketoshi

Breaking Down The Fee Market (EIP-1559)

The Blocksize War – Chapter 8 – Hong Kong Roundtable

The Blocksize War – Chapter 7 – Bitcoin Classic

The Blocksize War – Chapter 6 – Lightning Network

The Blocksize War – Chapter 5 – SegWit

The Blocksize War – Chapter 4 – Scaling II – Hong Kong

The Blocksize War – Chapter 3 – Scaling I – Montreal

The Blocksize War – Chapter 2 – March To War

The Blocksize War – Chapter 1 – First Strike

Book Published: The Blocksize War

Taproot: You Betcha

January 2021 Cryptocurrency Exchange Review (From CryptoCompare)

Progress Towards Utreexo Goals

Bitcoin Miner Transaction Fee Gathering Capability

London 2012 – The Second Bitcoin Conference

Exchange traded Bitcoin products

Mitigating Channel Jamming with Stake Certificates

The Growth of Bitcoin Merge Mining

Current Status of the Utreexo Project

Call me Ishmael

Battle of the Dexes

Bitcoin Satellite

August 2020 Report Into Cryptocurrency Exchanges (From CryptoCompare)

Antminer S19 Pro vs Whatsminer M30S+ (Part 2) – Thermal Image Analysis

Antminer S19 Pro vs Whatsminer M30S+

July 2020 Report Into Cryptocurrency Exchanges (From CryptoCompare)

Bitcoin Softfork Activation Methodology

Call to action: testing and improving asmap

June 2020 Report Into Cryptocurrency Exchanges (From CryptoCompare)

Battle For ASIC Supremacy

May 2020 Report Into Cryptocurrency Exchanges (From CryptoCompare)

Subtleties and Security

The Crisis Happened: What’s Next?

April 2020 Report Into Cryptocurrency Exchanges (From CryptoCompare)

Ethereum 2.0

Life with SARS-CoV-2

March 2020 Report Into Cryptocurrency Exchanges (From CryptoCompare)

Mining Incentives (Part 4): The Impact Of The Halvening

Who Funds Bitcoin Development?

Central Bank Digital Currency

Inflation Is Coming

January 2020 Report Into The Cryptocurrency Exchange Industry (From CryptoCompare)

Lightning Network (Part 7) – Proportion Of Public vs Private Channels

Growth In The Level Of Precision Of Bitcoin Spending

Lightning Network (Part 6) – Over 60,000 Non-Cooperative Channel Closures

Build Systems & Security – Bitcoin Is Improving

Initial Exchange Offerings (Part 2) – Investment Performance Update


Lightning Network (Part 5) – BitMEX Research Launches Penalty Transaction Alert System

Bitcoin’s Initial Block Download

Benford’s Law & Cryptocurrency Trading Data


Bitcoin Cash’s October 2019 Hashrate Volatility Increase

Bitcoin’s Block Timestamp Protection Rules

ForkMonitor: Unexpected Inflation Detection and Warning System

The Bitcoin Foundation

Lightning Network (Part 4) – All Adopt The Watchtower

Lightning Network (Part 3) – Where Is The Justice?

Facebook Takes on ETF Giant Blackrock, with a Fixed Income ETF called Libra

HDR Global Trading Limited Donates to the Massachusetts Institute of Technology’s Digital Currency Initiative...

The Bitcoin Cash Hardfork – Three Interrelated Incidents

Initial Exchange Offerings

The Schnorr Signature & Taproot Softfork Proposal

Bitcoin Cash SV – 6 block chainsplit

The Lightning Network (Part 2) – Routing Fee Economics

BitMEX Research Launches Ethereum Node Metrics Website –

Anatomy Of The Next Global Financial Crisis

The BitMEX Insurance Fund

The Mystery Of The Bitcoin Nonce Pattern

Tracking US$24 billion Of Tokens ICO Makers Allocated To Themselves

Atomic Swaps and Distributed Exchanges: The Inadvertent Call Option

Would Bitcoin’s mass adoption fundamentally transform the financial system?

The Price Crash & The Impact On Miners

Bitcoin Cash ABC’s rolling 10 block checkpoints updated to estimate the value of mining losses since the Bitcoin Cash split

Detailed Report Into The Cryptocurrency Exchange Industry (From CryptoCompare)

BitMEX Research Sponsors Fork Monitoring Website

Competing with Bitcoin Core

SegWit vs Bitcoin Cash transaction volume update & Bitcoin Cash investor flow update

Other Material

Lightning NodePublic Key:
Fork Monitor Website