"With tens of millions of dollars in financing and a valuation of over 100 million, blockchain data service companies have proved the importance of data to the industry, especially to financial institutions. Relying on massive amounts of data on the chain, unicorn companies are building digital infrastructure for the industry .”
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01. Frequent financing of tens of millions of dollars,Blockchain data companies have strong ability to attract money
In traditional industries, the importance of financial data to financial institutions is self-evident. From the perspective of traditional financial data companies, in 2019, Bloomberg’s annual revenue reached US$10 billion. In 2020, the total amount paid for financial data in the global market will be around US$30 billion.
Large financial institutions are relying on data to help them make decisions, and the quality of decisions depends largely on the quantity and precision of data. But most of this information is classified and cannot be obtained by ordinary people.
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02. Strengthen the basic function section, Dune Analytics lowers the data threshold for users
1. Project introduction
Dune Analytics is a blockchain research tool. Dune provides tools to query, extract, and visualize large amounts of data from the blockchain. Users can use PostgreSQL to query chain data and create dashboards that combine queries for data analysis.
Dune Analytics is a tool that greatly simplifies the process of obtaining data for ordinary users. This is a web-based platform to query Ethereum data from a pre-populated database using simple SQL queries. Without writing special scripts, almost any information on the blockchain can be extracted by simply querying the database.
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2. Project users
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3. Project team
At the time of the seed round, the Dune Analytics team consisted of only Haga and co-founder Julian Olsen (Mats Julian Olsen). Previously, the co-founder stated that he would expand the team to meet the market's growth in blockchain data services.
4. Project financing
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5. Project Summary
Even though Dune is a super powerful tool, there are still some bugs and limitations worth mentioning. First, only events, such as transactions and transfers, can currently be queried. The state of the blockchain cannot be queried at a particular block. For example, to know what the balance of a particular address is in a certain block, you will need to create a query that aggregates all incoming and outgoing transactions for that address. Answering the question "what is the total supply of Ethereum" is currently a bit tricky.
While the platform can help you debug erroneous queries most of the time, sometimes queries hang until they time out. If the query is taking an unreasonable amount of time, you may want to try saving it and reloading the page. These bugs may be eliminated in the future.
Queries are limited for 40 minutes until timed out. Querying large amounts of data and multiple joins can hit the limit. Where possible consider filtering queries (e.g., block time or block number).
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03. Relying on big data algorithms, nansen focuses on "labeling" users
1. Project introduction
nansen is a blockchain analytics platform that enriches on-chain data with millions of wallet tags. Crypto investors use Nansen to identify opportunities, conduct due diligence and protect portfolios with real-time dashboards and alerts.
Nansen uses a variety of methods to mark wallets, including: Heuristics and algorithms, Smart-contract parsing and analysis, team surveys and research, user submissions, etc.
Crucial is the interplay between all these sources, with more than 99% of labels being inferred algorithmically. Nansen's goal is extremely high precision, preferring not to label but not to mislabel.
As to whether there are privacy concerns about user data, an important source of data for Nansen is the blockchain itself. All blockchain data is public and immutable. Nansen has no control over what users decide to post on it.
2. Support public chain
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Although most of the public chain networks are still open and transparent ledger systems, in the long run, more and more privacy-related technologies (coin mixing pools, privacy computing, zero-knowledge proofs, etc.) are being explored and Realization may bring some privacy and anonymity functions to the blockchain world.
This may increase the difficulty of data analysis for Nanasen, and from a regulatory perspective, it is difficult for corporate entities to use privacy features. In addition, for decentralized projects, open transactions may also be preferred to maintain community trust.
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04. Nansen to the left, Dune Analytics to the right
Nansen and Dune Analytics represent two different business models, and there is no conclusion on which one is better.
Some people think that although Nansen can make a lot of money in an encryption market that is still growing at a high speed by virtue of high customer unit price and accumulated tag and address feature values, but because the data on the chain itself is transparent, the user base The bigger it is, the smaller the asymmetric information advantage paid users enjoy, so Nansen's ecology is doomed to be closed, which is completely different from Dune Analytics, which is open and contributed by the user community, and cannot enjoy the real network effect.
Since the data is transparent, Dune Analytics can essentially do all the products that Nansen can produce. For example, corresponding to Nansen’s token god board, Dune Analytics also has a token god lite board created by users’ independent contributions.
However, some people think that although the spirit of Dune Analytics is very web3, products like this cannot be sold to institutional users. Just imagine that in a highly competitive market, institutional users are willing to choose a product with high availability, or choose a product that requires What about the high-threshold products that write sql by yourself? The target customers of this type of data service are precisely institutional users. Dune Analytics began to cooperate with infrastructure providers to provide exclusive data API services for Binance Smart Chain, which itself shows that Dune Analytics is also moving closer to Nansen.
If the data itself cannot build a moat, maintaining the ability to continuously introduce new products has become the top priority, and Nansen has performed particularly well in this regard. Taking the NFT sector as an example, Nansen has been fully engaged since the second half of 2021, closely following this wave of NFT outbreaks and continuously improving its products. In June, it announced the launch of NFT Paradise, NFT God Mode, NFT Wallet Profiler and NFT Item Profiler. Track the trading volume, market value, highest price and floor price of well-known projects in the past 24 hours, as well as the buying and selling trends and positions of top collectors, etc. In July, NFT Leaderboards was launched, and the "profit" indicator was introduced to give investors better Investment reference, launched the Smart NFT Trader board in November, listing the top 100 addresses in terms of NFT profits and the top 100 addresses based on internal trader scoring indicators, and announced in December that it will cooperate with Rarity to launch an in-depth analysis of 650+ NFT projects Coverage, it can be said that only from the NFT sector, we can see Nansen's strong product power and rapid iteration capabilities, which are the cornerstones to ensure that users can continue to pay high fees for it.
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