With the wealth of open source, ADAM builds an on-chain data industry
One thing focused by the Crypto VC funds ,who pouring into the crypto industry like crazy , is to find new industry unicorns. Like mining hardware manufacturer Canaan, Bitmain or the world’s top exchange Coinbase, these are all successful examples in the industry.
The fields that have produced unicorns can be divided into two categories: financial services and hardware development. On the whole, the crypto industry is in the early stage of development, and there are still many promising companies lining up to work towards unicorns; there are also tracks with clear future prospects, including DeFi, NFT, and the Metaverse. There will also be emerging unicorns.
This article focuses on a different field that may also see the birth of super unicorns in the future: the blockchain data industry.
In the current information age, investment firms need data to gain a competitive advantage. In the blockchain world, almost all data is public, and every transaction that occurs on the network is permanently recorded in a public ledger, including transaction amounts and data involving addresses. However, in a sense, the data is still “hidden”, because these data stored in the blockchain are difficult to process, and there is a high threshold for extracting truly useful information.
Moreover, as the number of users of the blockchain increases, the record data formed on the blockchain becomes more and more complex. At present, the encryption industry is dominated by financial activities, and every asymmetric information gap may bring great losses. This is not like the current stock market, although there is a certain degree of information asymmetry, but compared to the encrypted market, it is already a lot more perfect, at least you can see the fundamentals of the company (financial, business and other data information).
We can clearly see that the demand for data on the chain is increasing day by day. Strong data demand and lack of supply have formed a fierce contradiction. The market urgently needs a batch of on-chain data service projects, and the emergence of such projects as data encryption computing network ADAM is an inevitable result of the development of the times.
Although some high-quality projects have appeared in the field of blockchain data, many problems need to be solved in order to fully tap the potential of data on the chain: take transaction data as an example
1. Trading data can be misleading because it does not include the OTC market. Many OTC orders are traded by direct transfer after negotiating the price. Because OTC activities are generally conducted privately, data companies need to contract with multiple OTC dealers to obtain this data.
2. In many cases, even activity derived from on-chain blockchain data does not fully represent real economic activity. For example, when an entity transfers coins between different wallets under its control, such as moving coins from an exchange’s hot wallet to a cold wallet, or vice versa. To weed out data from such events requires maintaining a different list of wallet addresses used by each exchange, which is often the job of a data analytics firm
As the first data encryption and computing network based on Web3.0, ADAM can refine the data on the chain through globalized nodes, and effectively perform data screening, classification, traceability, calculation and analysis. In order to further improve data processing capabilities, ADAM is building an on-chain data analysis platform, improving oracle functions, developing data monitoring plug-ins, optimizing data retrieval capabilities, and more.
The future development trend of the data industry on the chain is intelligence, sharing and ecologicalization. In order to build an on-chain data industry and find the true value of on-chain data, ADAM needs to effectively communicate with each link in the industry chain, maximize value, and build a sustainable data service business model.
In this regard, ADAM CEO Sam Panzer also pointed out: “ADAM should make efforts to build the development blueprint of the data industry on the chain from three aspects: first, strengthen technological innovation and break through the constraints of core technologies; second, promote data fusion applications and empowerment High-quality development of the industry ecology; third, strengthen data governance and build a complete on-chain data rule system.”
Sam Panzer also said that from the perspective of the future development trend of the blockchain data industry, the three stages from technology to product, and then to application and ecological development are progressive. At the ecological level, it includes not only technological breakthroughs and application upgrades in the entire industrial chain such as data collection, data storage, data processing and data application, but also the concerted efforts of various industry organizations, so as to form a healthy, orderly and sustainable development on-chain data ecosystem.