Friday, February 26, 2021

Cardano Foundation Partners with Flipside Crypto to enable next-level on-chain data visibility for Cardano

Cardano Foundation, the non-profit organization behind Cardano (ADA) has announced its partnership with Flipside Crypto, a blockchain analytics firm, to enable next-level on-chain data visibility for the Cardano protocol.

The new development was published on the Cardano official forum and shared with the Cardano Community members on Twitter a few hours ago.

According to the report, every block on Cardano is decoded in real-time into a universal data set through the proprietary Chainwalking™ process of Flipside Crypto. Using statistical and behavioral modeling, Flipside’s data science team will track and label the on-chain activity of Cardano.

“What if you could compare transactions and asset movements on Cardano against that of other blockchains? Cardano Foundation is using Flipside Crypto’s Chainwalking to enable next-level on-chain data visibility for Cardano.”

The collaboration is expected to enhance the transparency of the Cardano network. It will bring about real-time transaction visualization, which will enable everyone involved in the ecosystem to understand the asset-flows, geographic activity, and behaviors of stakeholders on Cardano.

According to the report, “Going forward, Flipside Crypto will continue to Chainwalk™ every block added to the Shelley mainnet. Chainwalking™ will see raw blockchain events normalized and mapped out into a series of intelligence outputs in real-time. This data is beneficial for the Cardano blockchain, ada (₳) holders, exchanges, enterprises, and crypto enthusiasts alike.”

The collaboration will also give Cardano community the access to a new and highly specialized tool for objective technical analysis and exploration.

The full integration of Shelley testnet to mainnet will make the transparent data more useful. This will allow stakeholders to explore, arrange, and leverage blockchain information to accurately track volume, transactions, address counts, and impact of off-chain events on the Cardano ecosystem.

Reacting to the new partnership, the Chairperson of the Cardano Foundation, Nathan Kaiser, said:

“Flipside Crypto’s ability to Chainwalk™ every block and integrate them into external intelligence tools provide unparalleled insights and benefits to all stakeholders, as well as accelerates the value growth of Cardano. Detailed analytics as a result of this process, such as the growth of applications on Cardano, flows of ada, staking, and rewards, and core customers and users, gives an independent and transparent overview of the project’s holistic health.”

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Solomon Odunayo
Solomon has a growing passion for writing, this propelled him to keenly work on Eagles News Media for about two years before delving into the cryptocurrency and Blockchain industry he finds more interesting. He worked as a crypto Journalist and Editor at NewsLogical before joining Herald Sheets, owing to the priceless experience he has accumulated since he became a contributor in the crypto community.

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