Inspiration
The world of decentralized finance (commonly known as DeFi) has been rapidly evolving over the past decade. Decentralized markets have created new opportunities for individual investors and organizations to manage their assets anywhere in the world through the power of open-source smart contracts deployed on a blockchain. However, while the underlying technologies of blockchain virtual machines utilize state of the art cryptographic algorithms to ensure the security of users, wherever there is human interaction, there exists risk of phishing, exploits, or scams that can put user’s assets in danger.
What it does
Watchdog3 is a platform built to increase transparency and introduce accountability to decentralized finance. Users can run a query for any address and receive a detailed report of their trust score and whether that address has been linked to any known scams.
The platform also allows individuals to register their address as “verified” through a KYC process to give credibility to their actions while keeping their identity private. Users can also submit reports of different attacks or scams to keep our database up to date with any shady actions in the space.
How I built it
The website was built using the React framework, Next.JS. The wallet scanner interacts with the BscScan API to collect data about the specified address.
Challenges I ran into
This was my first hackathon project I attempted solo and I quickly realized that time would be my biggest enemy this weekend. I spent a solid amount of time planning my work, so I could have a clear list of what I needed to accomplish; however, certain tasks (especially design) took longer than anticipated which forced me to reorganize my priorities.
Accomplishments that I'm proud of
I'm proud that I was able to design and build a functional MVP of my project by myself within such a tight deadline. I'm also proud of the UI I designed as visuals tend to be my weakest point in personal projects.
What's next for Watchdog3
A platform like Watchdog3 could become a useful tool for individuals and organizations interested in getting involved in the world of decentralized finance. If I were to continue working on this project past the hackathon, I'd focus on refining the scoring method to provide accurate insights for a particular address.
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