It was the burn address with the most BTC received in 2017 according to
http://bitcoinwhoswho.com/blog/2017/12/30/8-97-bitcoins-burned-in-2017/. It’s Hash160 is 0000000000000000000000000000000000000000. In Sept 2015 it served as a 40 BTC proof-of-burn address for Blockstore.
So, why did it receive 14,270 inputs of BTC dust in 2017 totaling 8.70069482? Why does “unable to decode output address” accompany this address on every transaction on Blockchain.info? https://blockchain.info/address/1111111111111111111114oLvT2
In this transaction it appears similar to a change address:
1111111111111111111114olvt2 appears to be used as the Proof of Burn address of Blockstacks Core. I had never heard of that project before, but they describe themselves as:
Blockstack is a new internet for decentralized apps where users own their data.
Blockstack applications follow a can’t-be-evil design philosophy. They cannot alter, transfer, or revoke the user’s identity, and they cannot read or write the user’s data without permission. Blockstack provides the platform, network, and SDKs for building can’t-be-evil applications using existing Web tools. If you are Web developer, all of your skills are immediately transferrable to Blockstack.
I found their project via a note on the oxt.me explorer for the address in question.