Token

bitsCrunch

<div>
 <img loading="lazy" loading="lazy" decoding="async" width="300" height="200" src="https://droomdroom.com/wp-content/uploads/2024/01/bitsCrunch-300x200.jpeg" class="attachment-medium size-medium wp-post-image" alt="bitsCrunch" style="margin-bottom: 10px;" title="bitsCrunch: Accelerating Web3 Adoption with AI-Driven Insights and Forensics 39">
</div> 
<p>bitsCrunch is a decentralized network for permissionless data acquisition, processing, and delivery. The network aims to safeguard blockchain assets by building analytical tools that contain onchain forensics and fraud detection capabilities.</p> 
<p><strong>bitsCrunch target users include NFT platforms, digital assets lending protocols, DeFI products, cyber security teams, crypto/NFT investors, creators, financial institutions, regulatory bodies, and traders. These users will gain reliable and accurate insights from the network. Thanks to the bitsCrunch AI-powered analytics platform</strong>.</p> 
<p>bitsCrunch has got the entire crypto ecosystem extremely excited by <a href="https://twitter.com/bitsCrunch/status/1758710005141000686" target="_blank" rel="noreferrer noopener nofollow">completing its community sale within 24 minutes </a>(14th December 2024),&nbsp; scooping #1 trending positions on OpenSea and Blur, after a record-breaking LiveMint event for its <a href="https://mint.bitscrunch.org/" data-type="link" data-id="https://mint.bitscrunch.org/" target="_blank" rel="noreferrer noopener nofollow">Genesis Pass NFT Collection</a>, and attracting the attention of top tier exchanges like&nbsp;Crypto.com, ByBit, Gate.io, KuCoin, Uniswap, CoinList and CoinList Pro for its <a href="https://x.com/bitsCrunch/status/1759645283879665775?s=20" data-type="link" data-id="https://x.com/bitsCrunch/status/1759645283879665775?s=20" target="_blank" rel="noreferrer noopener nofollow">$BCUT listing</a> on the 20th of February 2024.</p> 
<p>The six exchanges have already revealed the official announcements on X and published on their websites that they will be launching $BCUT on 20th February 2024 at 1:00 pm UTC.</p> 
<h2 class="wp-block-heading" id="bitscrunch-origin">bitsCrunch Origin</h2> 
<p>The bitsCrunch blockchain analytics platform is the brainchild of <a href="https://twitter.com/VijayPravinM" target="_blank" data-type="link" data-id="https://twitter.com/VijayPravinM" rel="noreferrer noopener nofollow">Vijay Pravin, its founder and CEO.</a> As per Vijay, they came up with the idea while preparing to win a hackathon. His team did win the hackathon, but they also discovered the NFTs sector as a potential entry point that could leverage reliable statistics and data analysis.</p> 
<blockquote class="wp-block-quote"> 
 <p><a href="https://droomdroom.com/bitscrunch-bcut-fundamental-analysis/#team-and-background" target="_blank" rel="noreferrer noopener">It’s best you catch more about the team background on the bitsCrunch fundamental analysis.&nbsp;</a></p> 
</blockquote> 
<p>bitsCrunch closed its seed sale in 2021 after allocating 100 million tokens to investors and raising $750,000. This wasn’t without cracking a sweat since bitsCrunch had already developed and deployed a robust proprietary technology. The technology targeted NFT investors, collectors, and traders.&nbsp;</p> 
<blockquote class="wp-block-quote"> 
 <p><a href="https://unleashnfts.com/" target="_blank" rel="noreferrer noopener nofollow">Today,&nbsp;this proprietary technology is known as UnleashNFTs by bitsCrunch. It helps solve issues to do with pricing and valuation by supporting accurate NFT valuation through a combination of advanced AI algorithms, machine learning, and data processing.</a></p> 
</blockquote> 
<p>The analytics platform has continued to build over the years and is currently eyeing utility beyond the NFTs sector. Some of the use cases include advanced tools for monitoring social media sentiments, tracking cryptocurrency prices, and forecasting market trends. </p> 
<p>Meanwhile, the team has recorded tremendous growth over a short period to become the standard for streamlining NFT market data analysis, enhancing accessibility of onchain assets, conducting blockchain forensics, and detecting fraudulent activity.</p> 
<h2 class="wp-block-heading" id="bitscrunch-architecture">bitsCrunch Architecture</h2> 
<p>The bitsCrunch blockchain analytics platform has a layered architecture consisting of<strong> data storage, acquisition, query,</strong> and <strong>processing layers. </strong>These four layers are essential in the data lifecycle, from how the network acquires it to how it is processed for user consumption.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter">
  <img loading="lazy" loading="lazy" decoding="async" width="661" height="246" src="https://droomdroom.com/wp-content/uploads/2024/01/image-2.png" alt="bitsCrunch" class="wp-image-21770" title="bitsCrunch: Accelerating Web3 Adoption with AI-Driven Insights and Forensics 40">
  <figcaption class="wp-element-caption">
   By&nbsp; <a href="https://bitscrunch.com/" rel="nofollow noopener" target="_blank">bitsCrunch</a>
  </figcaption>
 </figure>
</div> 
<blockquote class="wp-block-quote"> 
 <p><a href="https://bitscrunch.com/bitsCrunch_Whitepaper.pdf" target="_blank" rel="noreferrer noopener nofollow">Find out more about the layered architecture and discover the platform’s revolutionary process for querying data on the bitsCrunch whitepaper.</a></p> 
</blockquote> 
<h2 class="wp-block-heading" id="network-contributors">Network Contributors</h2> 
<p>According to the bitsCrunch whitepaper, the network would initially develop and leverage its own AI/ML models, data, and metrics to power its blockchain analytics platform. As time went by, the network would going to onboard community members to develop and contribute to the network’s models and metrics.</p> 
<blockquote class="wp-block-quote"> 
 <p><a href="https://droomdroom.com/bitscrunch-bcut-review/" target="_blank" rel="noreferrer noopener">If you are interested in participating in the bitsCrunch network as a contributor, we have already covered the available contributor roles on the bitsCrunch $BCUT review.</a></p> 
</blockquote> 
<p>These roles include query processor, data<strong> </strong>enricher nodes, delegators, indicators, and operators.</p> 
<h2 class="wp-block-heading" id="bitscrunch-use-cases">bitsCrunch Use Cases</h2> 
<p>Projects in DeFi can leverage the bitsCrunch blockchain analytics platform to acquire real-time insights on trading volumes, market trends, and suspicious onchain activity. These insights are valuable when forecasting market movements, identifying potential opportunities, building advanced trading tools, and detecting fraudulent behavior. </p> 
<p>As a fraud detection tool, bitsCrunch helps provide timely alerts when it suspects dangerous activity. This enables projects and users alike to put preventive measures in place.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Exploring the Power of bitsCrunch (Utility) Token ($BCUT)<br><br>1/ Token Utility Unveiled<br>bitsCrunch Token <a href="https://twitter.com/search?q=%24BCUT&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">$BCUT</a> is more than just a digital asset; it's the heartbeat of the bitsCrunch Network. Let's dive into its core functions &amp; utility that make it an integral part of our ecosystem <a href="https://t.co/RH4ohbZ87J" rel="nofollow" target="_blank">pic.twitter.com/RH4ohbZ87J</a></p>— bitsCrunch | Insights for a better future of NFTs (@bitsCrunch) <a href="https://twitter.com/bitsCrunch/status/1733942305592086756?ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">December 10, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
 <figcaption class="wp-element-caption">
  bitsCrunch also has a native cryptocurrency, $BCUT. These X threads could shed more light on the utility of the token.
 </figcaption>
</figure> 
<p>Financial institutions, companies, projects, and regulatory bodies leverage bitsCrunch insights to ensure a safe, secure, and legally compliant blockchain ecosystem.</p> 
<p>For instance, the insights can help generate compliance and Anti-Money Laundering reports to guarantee transparency and comply with legal requirements. </p> 
<p>Furthermore, government bodies can implement these insights to oversee and enforce market compliance. Therefore ensuring organizations abide by laws.</p> 
<p>Blockchain assets platforms such as NFT marketplaces can leverage insights from bitsCrunch to stay abreast with the ever-growing blockchain landscape. As the blockchain keeps evolving, so does the nature of transactions. </p> 
<p>Thereby making the transactions even more difficult to monitor. Platforms can implement bitsCrunch data APIs on their algorithms to better break down complex data into reliable insights.</p> 
<p>Digital assets lending protocols also have the opportunity to empower their processes using the bitsCrunch blockchain analytics platform. By leveraging bitsCrunch, lending protocols can diversify their range of assets, accurately determine favorable loan collateralization, and tap into a rich source of comprehensive insights about underlying assets in the market.&nbsp;</p> 
<p>The creator economy also has the opportunity to benefit from bitsCrunch by leveraging insights for accurate pricing, evaluation of market trends, and making educated decisions. </p> 
<p>Creators can also use the bitsCrunch fraud detector tool to identify and flag down fake NFTs based on their original work.</p> 
<h2 class="wp-block-heading" id="impact-of-bitscrunch-on-web3">Impact of bitsCrunch on Web3</h2> 
<p>Everyone participating in the blockchain, be it trading, investing or creating must <a href="https://droomdroom.com/trade-nfts-using-data-driven-strategies/" target="_blank" data-type="post" data-id="21763" rel="noreferrer noopener">rely on accurate and in-depth data analytics to make informed decisions </a>regarding their investments.</p> 
<p>The data comes in handy when performing detailed forensics to identify potential investment risks and suspicious onchain activity. If blockchain users can effectively utilize these data to flag down fraudulent activity, it means their funds, personal data and onchain assets will achieve strong security.</p> 
<p>In case there are applications that want to ensure the safety of their Web3 users, bitsCrunch provides network APIs that can integrate analytics directly into these platforms to maximize reliability. Hence, traders, investors or digital assets creators can access detailed analytics from the comfort of the native application.</p> 
<p>Foundation to Web3 is democratization and transparency. bitsCrunch has put community and data democratization on a pedestal with a vision where the community plays a role in contributing to the data. This allows room for continuous data refinement, growth and improvement. Those that contribute to the data also receive rewards.</p> 
<p>bitsCrunch has the mission to be the northstar of digital assets forensics and research through comprehensive data. As such, the network supports data from various sources including marketplaces, blockchains and protocols. By unifying these data, users and platforms can access it seamlessly, thanks to interoperability features of the data analytics network.</p> 
<h2 class="wp-block-heading" id="the-future-of-bitscrunch">The Future of bitsCrunch</h2> 
<p>The entry point for bitsCrunch was&nbsp; the NFTs sector. Already, the network is working hard to serve other blockchain markets in future, including providing comprehensive analytics for the entire cryptocurrency industry.</p> 
<p>Analytics are a valuable component of the ecosystem given their ability to snapshot performance of blockchain assets, identify abnormalities in transactions, flag down suspicious activities, spot opportunities, forecast digital asset prices, assist in fraud detection and even help regulators/compliance bodies verify the legitimacy of digital transactions. </p> 
<p>Whereas these use cases come in handy for the NFT market, it is worth pointing out that the entire blockchain market will heavily rely on analytics in future.</p> 
<p>In a multi-trillion industry, the future will have hundreds of thousands of assets to study, tons of scammers and an endless list of worthless coins. The saving grace for the future blockchain industry will be data analytics. Investors, trading platforms, wallets, creators, traders, holders and developers will rely on comprehensive statistics to weed out dubious entities, identify market gaps and when making wise decisions. </p> 
<p>With this scenario, bitsCrunch will undoubtedly hold a place in the sector as the demand for refined analytics continues to grow.</p>

bitsCrunch: Accelerating Web3 Adoption with AI-Driven Insights and Forensics

Tabla de contenidos

DroomDroom

Otros artículos publicados el 20 feb 2024

Coinbase earnings suggest strong year ahead, though challenges abound

Messi Unveils RWA Tokenization on PLANET for Sustainability

Bitcoin Gains Commodity Status in the US and Prospects in Europe

Does Worldcoin (WLD) Have Competition With This New Palm-Recognition Project?

Filecoin’s FIL jumps 16%, the reason

Solana-based Backpack Crypto Exchange Attains $1B Daily Trading Volume Just 5 Days After Pre-seas...

¡Únete a nuestro boletín gratuito para recibir actualizaciones diarias de criptografía!