Chainalysis Address Screening for Compliance and Security

Chainalysis Address Screening is a powerful tool for ensuring compliance and security in cryptocurrency transactions. It helps identify and flag suspicious activity, preventing potential risks and fines.

Chainalysis Address Screening uses a database of known illicit addresses to screen transactions, providing real-time alerts for potential security threats. This database is updated regularly to keep up with emerging threats.

By screening addresses, businesses can protect themselves from potential risks and maintain a secure and compliant environment. This is especially important for businesses that handle large volumes of transactions.

Chainalysis Address Screening can also help businesses identify and block malicious activity, such as money laundering or terrorist financing.

Bitcoin is a type of digital currency that allows for peer-to-peer transactions without the need for intermediaries like banks.

It was created in 2009 by an individual or group of individuals using the pseudonym Satoshi Nakamoto.

Bitcoin uses a decentralized system, meaning that transactions are recorded on a public ledger called a blockchain, which is maintained by a network of computers around the world.

Each Bitcoin transaction is recorded on the blockchain, creating a permanent and unalterable record of all transactions made with the currency.

The total supply of Bitcoin is capped at 21 million, which helps to prevent inflation and maintain the value of each coin.

A bitcoin address is a virtual location and identifier where users can send and receive cryptocurrency. They are set up in a similar fashion to an email address and are free to set up.

As of December 2018, there were around 460 million bitcoin addresses in existence. This is a staggering number, but only some of them are relevant to the actual economic activity on the network.

Only 172 million bitcoin addresses are economically relevant, meaning they are controlled by people or services who currently own bitcoin. Of these, only 27 million actually hold bitcoin.

A private key is a secret number that is cryptographically linked to a bitcoin address. It's used to "sign" transfers, proving that the user owns the address and the bitcoin within it.

In the bitcoin network, 172 million economically relevant wallet addresses have been identified, with 86% belonging to named services, such as an exchange or a darknet market. The remaining 14% are likely held by individuals.

Only 20% of the bitcoin transaction value is economic, meaning it's a final transfer between different people via economically relevant addresses. The remaining 80% is returned as change.

Non-Economic Addresses are typically single use, generated by Bitcoin wallet software, holding bitcoin for only a short time.

Three-quarters of addresses have held bitcoin for less than a day.

These addresses are often used as change addresses, holding bitcoin for a brief period to facilitate one of a series of payments between people and services.

For example, when a person sells one bitcoin, the blockchain records a transaction value of ten BTC, even though they only sold one bitcoin.

Chainalysis offers a robust API for Chainalysis Address Screening, which builds on their free sanctions screening tools.

Chainalysis Address Screening provides information on smart contract exploits, hacks, terrorist financing, and wallets related to sanctions.

This solution takes your compliance program to the next level, offering a more comprehensive approach to managing risk.

The Chainalysis Sanctions API is a RESTful API that returns information for all crypto addresses on the SDN list, including a property's name, description, and URL.

Chainalysis Address Screening is a step up from their free sanctions screening tools, offering more detailed information to help you make informed decisions.

Chainalysis Address Screening is designed to help you identify and manage risk, ensuring your business stays ahead of the regulatory landscape.

Chainalysis Address Screening can be integrated into your existing systems, making it easy to implement and use.

Chainalysis Address Screening is a powerful tool that can automatically evaluate source of funds, build trust with customers, and demonstrate proactive development of compliance controls, regardless of whether you're a Dapp, DAO, or NFT Marketplace.

It runs across all blockchain networks and assets in real-time, detecting high-risk activity and preventing transactions with crypto addresses tied to illicit activity.

Chainalysis Address Screening is powered by the industry's best blockchain data, which maps hundreds of millions of addresses to real-world entities, adding hundreds of new services every week - a third of which are scams.

This data helps bolster customers' compliance, investigation, and investment needs, making it a valuable asset for web3 organizations.

Chainalysis Address Screening can be customized to optimize your compliance program and risk policies, allowing you to tailor the tool to your specific needs.