Why do we need the Eyeeye on the Oco Cloud Chain?

When it comes to blockchain, keywords such as unforgeable, traceable, open and transparent are bound to appear. However, most users, including blockchain practitioners, miners and other groups, do not know how to take advantage of the features of blockchain.

More than 60 Defi attacks took place in 2020, with losses of more than $250 million, according to the "On-Chain Security Report 2020" by the Motion Research Institute. In its "2020 Annual Digital Money Laundering Report", the blockchain security company said that fraud, attack, extortion, gambling, and gray industries such as money laundering and grade running are beginning to use virtual currencies that are anonymous, complex and transnational to commit crimes. Frequent security incidents, the chain data has become the focus of the entire industry must pay attention to.

And this piece of market, already a red sea.

The importance of on-chain data is prominent, and the on-chain analysis company Chainalysis is outstanding

Overseas, there are brands like Chainalysis, CipherTrace, and Elliptic, a British blockchain analytics company, among which Chainalysis is the absolute leader.

As on-chain activity continues to grow, Chainalysis continues to output within the industry. They had calculated that illegal activity accounted for 0.34 percent of all cryptocurrency transactions in 2020, down 2 percent from 2019. They also see that ransomware is the largest category of illicit activity, accounting for 7% of all crypto money received through ransomware, up 311% from a year ago, and that dark web market activity has reached an all-time high.

Chainalysis relies on its own robust products: Reactor, KYT, and Kryptos. Chainalysis Kryptos is an industry analysis software for institutions and cryptocurrency industry service providers. It provides institutional users with complete files of cryptocurrency business, reminds them of potential opportunities and risks, and helps financial institutions analyze regulatory risks of cryptocurrency and establish risk assessment models. Chainalysis KYT, on the other hand, is an automated cryptocurrency transaction monitor that identifies high-risk transactions in real time and alerts them, incorporating case management and in-depth tracking. Reactor is also powerful enough not only to clearly track cryptocurrency movements across the blockchain, but also to flag cryptocurrency addresses associated with illegal activities.

And the same track, look back to the domestic, Oke cloud chain chain on the eye has already become the leader of blockchain infrastructure.

Why do you need OkLink

The blockchain infrastructure consists of several components, among which on-chain data queries are increasingly important in the current on-chain ecosystem.

OKLink OuKeYun chain not only contains the currency and etheric fang block browser, also provides the Wright, BCH, DASH, bitcoins SV, USDT, ETC and OKExChain and testing data, from the basis of the conventional data, including the entire network to calculate force, difficulty, reward, block height, market value, turnover, volume, TPS, at the same time, the rich mineral pool work force, the address data on the user's concern, such as have realized the data visualization.

Later, Oklink launched the Defi section, which contains data on mortgage lending, DEX, derivatives, payments and assets. Users only need to enter the Oklink ETH browser to query real-time data such as the total amount of Defi products and services on Ethereum, the percentage of Defi products and services locked up.

Photo source: OKLink

Conventional data is highly substitutable, and users choose tools more based on their usage habits and front-end page optimization.

On the basis of conventional data, Oklink has launched the "Sky Eye on Chain", which is mainly used for "address analysis", "transaction graph" and "on-chain monitoring", realizing the full coverage of many blockchain features and functions.

Oke cloud chain on the three functions of the eye

Chain on the eye is a cooked up by OKLink OuKeYun chain free of charge to all users on the chain of data visualization tool monitoring and trading behavior, based on the in-depth analysis of mass data on the chain and continuous tracking, combined with the existing hundreds of millions of address labels, provides users with trading map, address analysis and monitoring, and other forms of visual display chain.

At present, SkyEye on Chain is the big data learning of address analysis, transaction traceability, on-chain monitoring, address label library and other aspects after several iterations, which lasts more than a year.

These functions are sufficient to scale Chainalysis.

Up to now, SkyEye on Chain has covered more than 100 million address labels of digital currency trading platforms, mining pool institutions, mixed-currency service providers, domestic and foreign gambling websites, dark net, extortion and fraud cases involved in beneficiary addresses, official sanctions agencies, terrorists, nuclear Al Qaeda and so on.

Take, for example, the Bitcoin address of the largest crypto asset, the Ponzi scheme Plus Token, and its Token transfer path can be seen through "address analysis."

Source: Eye-eye address analysis on the Oke cloud chain

That address is then entered into the "Trading Graph" to see how it spreads and launderes large assets.

Source: Oke cloud chain on the sky eye trading graph

If the user's assets are stolen or abnormal, the first time through the chain eye query and report to the public security department. Earlier, cryptocurrency involving more than 40 million yuan was stolen, Sichuan police and Oke cloud chain cooperation, through the chain SkyEye successfully in a large number of addresses and transactions to find the suspect and successfully recovered the money. According to public reports, Euco Cloud Chain has also assisted the police in Jiangxi and Shandong in cracking cases of coin theft, the police in Zhejiang in cracking cases of drug abuse through digital assets, and the economic investigation in Shanghai in cracking cases involving coins.

Behind the seemingly simple and clear data presentation is the integration and cleaning of massive data. "The focus and difficulty of on-chain data analysis is to mine the association relationship between accounts/addresses." The person in charge of Ooko cloud chain once introduced that taking BTC as an example, the number of daily active addresses should be calculated from the on-chain transaction data, and then the market value of BTC at the corresponding time should be obtained, and then log-linear fitting should be done to establish the relationship between the market value of Bitcoin and the number of active addresses.

The last feature of On-Chain Eye, On-Chain Monitoring, is a great tool for Defi players. On-chain monitoring is mainly divided into "address monitoring" and "transaction monitoring", through the address and transaction monitoring, users can track the operation of the Defi whale in real time.

Oklink is not the only tool that provides similar functions. For comparison, RushBlockBeats has summarized the types of products and functions on the market, as shown in the figure below:

As can be seen from the above figure, some platforms do not open the data of transaction analysis for free to the public. An industry insider said that the reason is that "this part of data is not a simple summary, but after deep integration and cleaning, the relevant database becomes clearer and clearer." Skyeye on the chain is free of charge and open to the outside trade graph and address analysis two major query direction, and support nearly a month of three layers of data query, to provide transparent information and services.

From the perspective of data richness, OKLink provides users with fast, accurate and comprehensive on-chain data services. More importantly, behind the open and transparent on-chain data solutions, is the improvement of blockchain security.

Eye on the Oco Cloud Chain: Pierce through the blockchain fog

As mentioned above, blockchain is unforgeable, traceable, open and transparent, etc. However, most ordinary users do not run the whole node to view the data on the chain. Therefore, we needed an integrated tool to help us cut through the blockchain fog.

The emergence of the eye on the chain made up for the vacancy in the inheritance market, and also took the first step in the compliance level. It is understood that in addition to the existing functions, Oklink has planned to support more currency data monitoring in the future, provide more comprehensive multi-dimensional on-chain data services, and help the entire blockchain ecological application to establish a complete protection system. Even in the event of a security incident, it can quickly locate the problem and find out the missing.

With the continuous progress of the industry, the blockchain browser has been gradually extended from a basic data query tool to investment analysis, on-chain tracking, anti-money laundering and other full-service tools. At the same time, the progress of big data, AI and other technologies is also constantly feeding the block browser.

The popularity of products like Oke Cloud Chain Sky Eye in the industry will improve the user education of blockchain technology, or effectively reduce the occurrence of blackmail trading, dark net trading, online gambling, pyramid selling and other malignant events. This also means that the security of the entire blockchain industry will be effectively improved, and the more transparent the transaction information on the market flows, the industry will be one step closer to compliance.

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