DistMarkets18

Distributed Markets 2018 Hackathon Project - Decentralization Explorer

Problem

When it comes to evaluating the health of a blockchain-based network and/or the growth of the cryptocurrency ecosystem, having clear and informative data plays a crucial role for anyone and everyone. While some are still focused around 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, etc.) but also flaws in evaluating the crypto-based projects themselves. While those already down the "blockchain/crypto rabbit hole" may know of such relevant information, this does not exist for the everyday user, who are instead pointed to rather flawed metrics. Investors and crypto-enthusiasts alike frequently may look at one or two sites to evaluate these projects, yet the flawed metrics show 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 is misleading. Other sites such as CryptoMiso provide tools to non-developers to evaluate the performance of a project’s repository activity. Yet this is extremely flawed as well, specifically as it only takes from ONE repository and compares just based on the number of commits (rather than their quality). Here, Ethereum’s GitHub repo is much further down the list, while it has the most active development base of any project. Conversely, new projects (with simply more commits) come off as seeming they have higher development activity, yet simply not providing an effective metric. Quantity doesn't equal 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 a 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 an 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 illumination into our blockchain/cryptocurrency ecosystem.

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