SAN JUAN, Puerto Rico — January 22, 2018
Aquarius Management Corporation, a company specializing in software development and management services in the digital asset space, in partnership with Starsift, LLC, today announced the launch of Outputs.today.
"We have always preferred a cautious approach towards Bitcoin development--an approach that favors network stability, opt-in features, and backwards compatibility over sweeping changes," said Evan Rose, founder of Aquarius. "As we've demonstrated in prior research, large economic actors are inefficiently using blockspace, the scarce and precious resource underpinning the Bitcoin network. This unnecessarily drives up the transaction costs for other users. We demonstrated that a significant boost to throughput could be achieved by implementing transaction batching: the act of combining many payments into a single transaction. While conducting our research it became apparent that no public tools existed to measure the adoption of this strategy. In partnership with Starsift, we're elated to present this tool free of charge to the broader community."
Outputs per day is a better indicator of overall economic activity on the Bitcoin blockchain than transactions per day. Since one transaction can include multiple outputs, the number of total outputs is more important than the number of transactions themselves. Large players in the Bitcoin space use batching--the process of including multiple outputs in a given transaction--to reduce their overall transaction fees. Therefore, looking at only transactions misses an important part of the picture. Outputs.today succinctly relays the current state of transaction batching on the Bitcoin network, providing visitors with novel real-time data which is increasingly valuable as the topic of scaling public blockchains takes center stage.
