What is BitsCrunch? A Deeper Look

BitsCrunch aspires to be the universal standard in AI-powered blockchain analytics, aiming to combat suspicious activities and offer profound insights into on-chain events.

But what is is all about?

BitsCrunch main concern as of time of writing is the NFT sector, a prime use case marred by fake volumes, inflated pricing, and wash trading.

Nothing quite as scary as as innocent NFT holders unknowingly acquiring “money laundering tools.”, and Tte platform’s forensics data-driven approach protects holders from exactly that.

It identifies and flags such malicious activities, filling a crucial gap as buyers of such NFTs grapple with due diligence challenges.

But bitsCrunch is more than an NFT watchdog.

It’s a blockchain data analytics firm wielding advanced algorithms, AI, big data, and machine learning to uncover trends. For individuals, a subscription-based service allows querying the blockchain for suspicious activity.

On a broader scale, crypto exchanges, GameFi projects, NFT marketplaces, and data analytics platforms benefit from such AI-driven insights and forensics.

Founded in 2020 in Munich, Germany, by data experts Vijay Maharajan, Ashok Varadharajan, Saravanan Jaichandaran, Gopi Kannapan, and Ajay Prashanth, bitsCrunch has evolved into a world-class AI-powered blockchain data analytics software.

Their success includes a sold-out $750,000 seed sale in 2021, with backing from notable companies like Covalent, GenBlock, MEXC, Ledger Prime, and Double Peak.

Their main product, UnleashNFTs, is a data platform that enhances NFT analytics.

UnleashNFTs doesn’t just score NFT collections; it offers fraud detection, alerting relevant parties to potential risks, criminal attempts, and phishing attacks.

Its forgery detection feature combats copyright infringement, notifying creators, and marketplaces about potential breaches.

The platform possibly identifies Dune Analytics, Nansen, Chainalysis and Elliptic as their primary competitors, but as a comparatively new arrival to the market, we will have to see how the consumers will find BitCrunch’s services.

The platform also has a native governance token, BCUT.

This native token is used in a variety of ways, one of it being a governance tool – holders can vote on proposals and network changes, actively participating in the ecosystem’s governance.

The token will also be used to motivate contributors and stakeholders, ensuring commitment to the platform’s growth.

The platform, being delegated proof-of-stake, also requires validators to stake tokens for network protection.

* Original content written by Coinlive. Coinbold is licensed to distribute this content by Coinlive.