Partnered With:

Binance Research: In-depth analysis of the development and application of cryptocurrency data tools.

Read this article in 10 Minutes

Original Title: "Crypto Data Tools: What You Need to Know"

Original Source: Binance Research

Original Translation: Plain Language Blockchain

With the continuous development and application of encryption technology, the number of encryption data tools is increasing, and the application of encrypted data is becoming more and more widespread, providing users with more diverse and powerful choices.

Binance Research has conducted a detailed analysis of the development of cryptographic data tools, including their specific use cases and applications, across three main categories: the evolution of cryptographic data, practical use cases, and cryptographic data tools.

Firstly, we will explore the development process of encrypted data, understand its evolution and the security enhancements it brings.

Next, we will focus on the specific categories of encrypted data usage. Currently, the market is mainly divided into three categories: tracking the flow of funds, auditing the security of smart contracts, and analyzing the basic information of projects, in order to gain a deeper understanding of the application and effects of encrypted data in different fields.

Finally, we will introduce some common encryption data tools.

In short, through the comprehensive analysis of these three major sections, we will fully explore the current development of encrypted data, hoping to be helpful for you to understand the encryption market.

Below is the original text of the Binance research report, translated by Plain Language Blockchain:

One, the development of encrypted data

In 2010, Block Explorer became the first tool to allow viewing of Bitcoin network transaction details.

2012 - 2014, a cryptocurrency asset data aggregator that displays currency prices and trading volumes emerged.

In 2015, GraphQL was publicly open-sourced, supporting smart contracts and DeFi data.

2017 - 2018, the launch of SQL query-friendly platforms such as Dune Analytics and Flipside. Data analysts can now easily query and process on-chain data.

2020 - present, comprehensive data monitoring platforms and artificial intelligence tools (such as DeFillama and Arkham Intelligence) have emerged in the encryption industry.

Etherscan and other block explorers serve as basic data analysis providers, allowing users to examine raw on-chain data. However, using such tools to understand a protocol's daily active users, revenue, and other important variables is not easy.

On-chain data analysis is very important because it helps to transform raw transaction data into valuable insights, enabling effective evaluation of cryptocurrency projects or departments and promoting informed decision-making and strategic planning. The demand for comprehensive blockchain data analysis has led to the emergence of more complex data providers.

The demand for AI-driven blockchain analysis has skyrocketed due to its ability to efficiently identify fraudulent activities and enhance trading strategies. Blockchain analysis companies such as Arkham Intelligence utilize artificial intelligence to simplify blockchain transaction monitoring and data analysis, providing users with valuable insights.

二、具体使用方向

translates to

二、具体使用方向

in English.

1. Tracking Fund Flows

Identify the flow of funds between different entities from major entities, and monitor "whale" addresses with large asset balances. By utilizing artificial intelligence technologies such as Arkham Intelligence, people can gain more comprehensive insights and connections.

2. Audit Smart Contracts

Analyzing smart contracts to improve security and reduce vulnerabilities, preventing potential exploits. De.Fi is an example of introducing a risk factor scoring tool.

3. Analysis project foundation

Understanding the basic indicators of a cryptocurrency project is crucial for making informed investment decisions. For example, for decentralized exchanges (DEX), especially AMM DEX, TVL is a key indicator that affects the effective trading spread.

Three, Encryption Data Tools

The encrypted data tool provides an overview of the available tools and infrastructure projects for analyzing digital asset-related data in the encryption ecosystem.

We have identified various relevant data types, including on-chain and off-chain sources, beyond the most commonly used transaction data. However, please note that some data types cannot yet be provided in a user-friendly format by data tools and providers.

This map is compiled based on public information. It is not a comprehensive list of projects in the field of encrypted data. Our goal is to present a balanced combination of existing participants and emerging projects, so some tools or projects may or may not be included. The projects displayed are drawn based on their primary use cases.

These projects have laid the foundation for implementing a wide range of use cases in Web3 DApps. They support the democratization of data, for example, by facilitating the integration of oracles that provide accurate market data for DeFi protocols.