While most of these efforts focus on the Bitcoin blockchain, BlockSci is doing things a bit differently. The company's whitepaper details how it can thoroughly analyze transactions on other blockchains, including Dash. That is not good news for the privacy-oriented alternate cryptocurrency by any means. Other currencies include ZCash, Litecoin, and a handful of others.

BlockSci Paints a Somewhat Worrisome Future

Many cryptocurrency enthusiasts are not big fans of blockchain analysis firms. This additional scrutiny of cryptocurrency transactions could have major repercussions in the long run. It would not be a bad thing if the illegal activity associated with currencies such as Bitcoin were finally put to an end. Everyone knows Bitcoin provides no privacy or anonymity whatsoever, yet criminals still think they can get away with using this currency.