ChainStats is an on-chain analysis application built for analytics, data aggregation and multi-chain consensus in blockchain data.
The utilization of on-chain data within various industries is expanding, and its potential is limitless. However, there is currently no platform that serves as a comprehensive terminal to access all the utilities brought forth by blockchain data due to data silos preventing the ability to efficiently contextualize and understand the rich, immutable, and real-time analytics from different blockchain networks.
By analyzing on-chain data, one can gain insights into the movements across different market entities, investigate specific events recorded by the blockchain, and get a transparent view of all the activity within any blockchain. On-chain analysis can also be used to generate an idea of what direction the crypto markets may potentially move next. This is possible by monitoring anomalous transactions or movements, tracking wallet activity, and many other metrics, providing a powerful tool to decipher actionable information about cryptocurrencies.
Blockchain is an open-source, cryptographically secured, transparent digital ledger that stores encrypted blocks of data. Each transaction is traced to the wallet responsible for the action and recorded on the digital ledger. This creates an exponentiating body of valuable big data and forms a chronological single-source- of-truth called on-chain data.
On-chain data analysis can be sorted and organized into a suite of powerful tools that can be used for various tasks, such as tracking the activity of a specific wallet or entity, analyzing exchange flows and charts, and gaining real-time insights into market sentiment and activity around certain coins. This can be used in conjunction with technical and fundamental analysis to minimize market risk.
The vision for ChainStats is to create a platform that allows users to access and utilize all the utilities brought forth by blockchain data. This platform would provide a comprehensive terminal to analyze on-chain data, enabling users to gain valuable insights into the movement of assets, the behavior of market participants, and the direction of crypto markets.
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