Unblocking blockchain data

Transcript

okay so I'm super excited to be here in Australia I'm absolutely loving it I got the opportunity to go surf this weekend at Manly Beach a good metre overhead I got completely worked it was awesome and I'm really stoked to actually see that the growing community here around crypto happening it's been great met a bunch of new faces and even just having a good time connecting with everybody so first I want to set context so for myself I always try to understand where am I what's going on and in what context are we operating in so over the past few years everybody in this room and in this community has created an industry there's the

tokenization in trading of digital assets is now happening globally there's hundreds of crypto as exchanges trading across the planet trading across jurisdictions across countries transacting value for example in the last 24 hours a theorem is traded eight billion dollars that sounds crazy right eight billion dollars in ether and 1.3 billion dollars in tokens in the last 24 hours four and a half years ago you couldn't even fathom that that industry has been created by the people in this room so institutions across major enterprises are building blockchain businesses to facilitate trading and digital assets

some of the biggest technology companies some of the biggest financial institutions this is happening globally this is happening across every sector across every every industry we in this room are creating an industry that I believe will be a multi trillion-dollar emerging market and it's come out of nowhere so just as context like wow where are we I mean it's an amazing opportunity that we've been around so the as in any umber there is there's a value chain that gets to evolve over time and it's you and me creating projects in core infrastructure

are enabling you know the the tokenization and and usage of blockchain data it is the investors that are participating in this that are funding our projects that are allowing us to build and create value it is the exchanges and liquidity providers and the market makers that allow that trade so that people can actually interact with our tokens and interact with our adapts and because that part of the crypto economic cycle is that you need to have not only the on train activity but you have to have price because that's what drives a crypto economics right so when we as we're watching new projects kind of emerge from the ashes

of the the crypto you know markets that we've experienced over the last year I think it's really important to be data-driven look at token metrics look at price look at on chain activity look at the events that are happening look at adoption and utilization don't look at Twitter don't look at telegram don't look at github commits by you know the number of people in projects or if you do you're just gonna be following the hype and you you really don't want to be the guy stuck holding the bag during the next you know moon on Twitter for that token so I like to be data-driven so I really say go look at the data before you get involved in a

project or you participate in a token or you you buy or you trade right so additionally whether you're an institution or you're an individual we all need to know what's in our wallet what's in our account balances how is our portfolio performed over time and you know there's so price is important right so I'm like all day long you know last year and I still catch myself doing it pretty regularly I'm looking at coin stats and I'm going hey what's the poet's the price of this token or this ether and I'm watching this all day long but I'd like to propose that look and dig a little deeper because of the transparency provided in blockchain dig

in go look in the exchanges go look in the decentralized exchange just go look in your competitors project what bets have they made and how is that portfolio plant played out blockchain and nabel's just insane level of transparency that it's really disruptive so take a step back from the day-to-day and go look go dig into the available data on chain which will give you insight in transparency into what is happening so because of the you know massive transparency on chain and in blockchain you can also start to go you know because I've just talked about okay how is this relevant to me how is this

relevant to my project how is this relevant to my portfolio how is this relevant to the particular token but you can also say I'm interested in particular sector so for example there's a lot of talk right now about decentralized finance and lending platforms so how do I know which one I should you know be a contributor to how do I know which one I should buy how do I know you know which where I should try to make money off of some of the d-5 projects for example so I pulled out some of the data that we've been collecting over the last few years and you know we compared adoption and utilization I'm just trying to you know put context around where is the activity

on chain what you can see here is that over the last year the number of unique users accumulating over time for these projects you can clearly see that dye is out front right now with the number of unique addresses interacting with their project as well as the adoption compound came up middle of the year they've had a lot of traction and then Dharma you're starting to see they're coming in to market and you're getting a little kicker but without the data how do you really know what's going on do you just look on Twitter do you read the medium blog posts you read what's on claim desk right you really need to look at the data to understand to know which projects you're going to invest in where

whether that be your monetary investment or that be an investment of your time to participate in the projects so you know if you look at there's also a lot of talk about decentralized exchanges and decentralized exchanges are gonna change everything and you know so I dug in and said hey what is the actual adoption and utilization across some of the decentralized exchanges and are we seeing changes in that behavior so in the early days we can really see that idec's and ether dela Delta I mean really we all probably knew this anyways but the data shows it idec's and ether Delta really had the lion's share of the activity for decentralized exchanges however over

time as you know things have come down a little bit we're starting to see khyber really come out and is taking a significant part of the market and the on chain adoption and utilization over time so if you don't have the data you really don't you can't make informed decisions so I really encourage people to dig in and if you're interested in a sector or you're interested in an area dig in and look at the data right so if you think about the impact of price versus what's happening on chain I've always thought you know it's really interesting crypt of economics so the whole idea behind crypto economics that

I've learned from Carl is the on chain activity can impact price which can drive incentives which can drive Network effects that will can drive behavior well having access to all the blockchain data and having price data as well I really wanted to dig in and test some of those assumptions so I look for some really compelling use cases now these are cherry picked but it's clear that crypto economics checks out if you look at the finance token and there's you can go back in time and but there was and see it but there was a really really clear indication that when they do a token Byrne guess what price goes up because the outs of the total supply decreases increases scarcity that drives

price up you can also see this on coin basis u.s. DC where they're continually burning and minting the total supply and you can see clearly I don't have a pointer here but you can see clearly up here where they've increased the number of Tok the price drops below $1 they decrease the number of tokens the price stabilizes this is actionable real-time data if you connect to a web socket and listen to mint and burn functions that as a trader is a profit opportunity as a person running a crypto project that's an operational risk you need to understand the impact of on chain

activity directly actually propagates to price which again comes back and closes the circuit to helping how people behave on chain and I love what's happening in crypto because never before have we had closed-loop transparency into actual economic behavior linked back to the data I mean you can try to do it with you know public traded up tradable markets where you have fundamentals and you have technicals but this is actually different because the actual burning and minting of tokens on chain in events draw is not only a catalyst but is the cause for the change in price so it's really really interesting so you know

the challenge though is that getting blockchain data and insights is hard what I just showed you is um sorry someone's flashing here so so okay so what I just showed you is collecting data over the last two years we've been able to by taking market data in and blockchain data in we've been able to do some basic analytics and provide insights into the defy applications for for lending so the decentralized exchanges the mint and burn impact on price in tokens however getting blockchain data is not free nor is it easy there's really only

three places to get blockchain data today you can run a full note in an archival node if you care about you care about performance you need to run at least two it's gonna cost you between three and five grand a month today an AWS to run two archival nodes with SSDs and have availability so then you need to aggregate that data you need index data you need to make that available in order to build anything of anything any use the second opportunity to get blockchain data is you can use the project called the graph it's a pretty cool idea is that you can pull you can create a node connect a node to a particular token and then be able to get blockchain data by a graph QL now the challenge with that is there's 3,000

tradable tokens so if there's 3000 tradable tokens do I need 3,000 nodes just if I'm looking at tradable tokens and there's actually 14 million smart contracts on time on chain so I don't really know how that scales or how that costs but it's an alternative you know I'm greedy and I like to have lots of data so I probably can't afford to do that and then the last alternative is to use an API provider so for example in Fuhrer has done a really great service to the community as has block cipher however their api's are really focused on right they don't do aggregation they don't do analytics so it's really about getting writing that data and making easy access to on chain so now if you're going to use an API provider which I clearly say

that that's the best method to today get access to blockchain data you need to know that your data is right because guess what decentralization says that the blockchain is the source of truth so anybody like us or in fewer that's aggregating data you better make sure that's right because the blockchain is the source of truth not the aggregator right so you need to make sure that your data provider can actually validate that the data is correct because every time there's a block reorganisation or every 50 blocks where there's 14 to 20 uncles and a hundred and 50 transactions per block there's a block reorganization that gets shuffled and if your data aggregator that's providing you API data doesn't account for that guess what you have wrong data so you need to make sure

that you can validate their own chain data with the off to their off chain data with the on dinked unchained data secondly do they actually provide you the internal messages the delegation calls that provide you the context of orchestrated decentralized applications that are built across multiple contracts most don't so it's really challenging if you need if you want to get and build and be data-driven getting the data is is difficult you can either do it yourself it's expensive or you can use an API provider next the other side of the coin from all this crypto economics stuff is that price matters even understanding what prices across 250 exchanges and I don't know how many

decentralize exchanges is difficult knowing what is you know what is the price how do I connect to those and you think about it blockchain data without price data you do you haven't closed the full crypto economic loop you actually need that and market data without blockchain data you're kidding yourself if you think you're trading on price data alone because you know there's an accession when you're playing poker is that if you don't know who the sucker in the room is it's probably you for people that are going out and doing trading on you know pumps on Twitter or they're trading on oh the price went up but they don't realize that there's mint or burn

functions or or things that are driving the price they're really missing the boat so today last year at Edie Khan we announced our free platform for blockchain analytics and monitoring we went from 0 to 500,000 users this year in a single year and when during the etherium fork that happened you know a month or two ago I can't remember we had like 40,000 users on our site free platform we don't do any advertising or what-have-you using the site today we're announcing a single API for blockchain data and market data we have market data on aetherium 452 million addresses 14 million smart contracts a half a million

transactions a day WebSocket events for every smart contract as well as aggregation and analytics and you can get validated blockchain data and you can get a miracle proof that says this data is right with its on chain and it's our data we also provide market data across the top crypto exchanges interr'd a historical trades order book aggregations of volume weighted average price time weighted average price circulating supply and then MIT and functions for every single token so I would like everybody to please take a picture of this we invite you to we have four tutorials that allow you to build a blockchain explore a ERC 20 wallet and a a dashboard that can watch emit and burn

functions on WebSockets so there's it's free to sign up there's three tiers in our service the first is free just like our current platform is free we're trying to enable transparency and Trust in the ecosystem and then once a month we're going to look for people who have built on top of our API and we want to basically give a prize for the most innovative project and we've had a whole bunch of people that have asked us about bounties can you know we contribute via bounties so we're trying to figure that out come talk to us we'd love to get ideas on bounties that you might want to work on and then you know sign up for the webs the API it's free to use for the free tier there's obviously a pro tier which is about a quarter the price of running

your own full node and paying for market data so we really want to encourage people to build and make aetherium and tokenization and in this whole industry you really take off and kick some ass so that is Amber data and thank you very much come talk to us in the booth [Applause]