DistMarkets18

Distributed Markets 2018 Hackathon Project - Decentralization Explorer

Problem

When it comes to evaluating the overall health of a blockchain-based network or the growth of the cryptocurrency ecosystem, having clear and informative data plays a crucial role for anyone. While many are still focus on finding the next big ICO, there exists a clear lack of basic infrastructure, most notably easily digestible and aesthetically pleasing data analytics. Not only a lack of quality information for the economic health of a network (adoption, distribution of coin by wallet), but also flaws in evaluating the crypto projects themselves based on market cap and repo commit history. While those more down the "blockchain/crypto rabbit hole" may be able to find such information, this does not easily exist for the everyday users, and are rather pointed to flaw metric. Developers, Investors, and crypto-enthusiasts alike frequently look at one or two sites to begin evaluating their projects. Yet, there are flaws within many of these metrics, showing a clear discrepancy between what is seen from within and what is seen from the outside.

Network Health Statistics

Evaluating and tracking the growth of a network is critical for a number of reasons. Being able to better understand the distribution between different crypto-wallets, Metcalfe statistics, overall adoption, etc. plays a critical role in how everyone evaluates the ecosystem.

Valued-Metrics for Cryptocurrencies

Coinmarketcap.com is the most frequently cited website amongst those new to the space, investors, and general crypto enthusiasts. However, basing a project’s value solely on market cap has its clear flaws. Sites such as CryptoMiso provide tools to non-developers to evaluate the performance of a project’s repository activity. Yet this is an extremely flawed approach, specifically how it only takes from ONE repository and compares just based on the number of commits (rather than the quality). Here, Ethereum’s is much further down their list, while it has the most active development base of any project. Conversely, lesser known projects (with simply more commits) come off showing higher development activity, yet simply not providing an effective metric (quantity =/ quality). Other sites such as CoinGecko use proprietary metrics to evaluate the development. This can also be extremely hard for everyday users, as metrics may be conflicting or don’t provide clear explanation. Potential solutions, while would need to be tested and weighed, could include tracking GitHub events, or could provide a slew of general data that is compared against one another in a more effective means

Solution

BlockViz is providing investors, new users, and those interested in general data visualization a subscription-based platform that offers high-quality, non-biased data-analytics. We look to track both the economic health of a ecosystem, going into network-growth, distribution within crypto wallets, and network activity. We provide easily digestible information, which is not solely based on market cap. With this, we effectively are providing additional illumination into the blockchain/cryptocurrency ecosystem.

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