One article to understand BitsCrunch, the decentralized data analysis platform that will soon be launched on Coinlist

avatar
jk
3 months ago
This article is approximately 608 words,and reading the entire article takes about 1 minutes
Coinlist will launch the BitsCrunch token BCUT sale at 1:00 a.m. Beijing time on December 15th.

Original - Odaily

Author - jk

One article to understand BitsCrunch, the decentralized data analysis platform that will soon be launched on Coinlist

Odaily previously reported that CoinList officially announced that it will launch the BitsCrunch (BCUT) token sale at 1 a.m. on December 15 (Beijing time), and registration is now open.BitsCrunch is a decentralized, AI-enhanced data network that provides analytical and forensic data for NFTs, wallets, and other public chain digital assets.

The token supply for this sale is 60, 000, 000 BCUT tokens, and the price is 0.055 USDT. An additional 5,000,000 BCUT tokens are set aside for rewards, and 10,000,000 BCUT tokens (1% of the total supply) may be available for purchase during the BitsCrunch Community Sale, at the discretion of BitsCrunch.

Core Function: Community-driven NFT data analysis platform

BitsCrunch believes that the NFT market has experienced significant growth in recent years, with sales in 2022 increasing by 300% compared to 2021, and total sales exceeding $80 billion. However, this growth has also been accompanied by a rise in NFT fraud issues, mainly because digital NFTs are easily counterfeited and sold. The lack of effective regulation of the market has led to an increase in fraudulent activity, with research estimating that 10% of NFTs in the large NFT market are fraudulent. Not only does this cause huge losses to retail investors, it also complicates the due diligence process. Due to the lack of accurate and comprehensive data analysis tools, users face greater challenges in effectively identifying authenticity and assessing the true value of NFTs, thus limiting their potential in the DeFi space.

According to BitsCrunch’s white paper, their product platform will use advanced computing methods, artificial intelligence algorithms, and combine data sources from on-chain and off-chain, including IPFS metadata. The decentralization of the platform will allow community developers to contribute additional algorithms to continuously improve data and unlock new use cases.

The platform provides reliable statistics on NFT market growth and coverage, protecting honest participants from money laundering traders aiming to steal rewards and value. It also provides accurate NFT asset valuation through ML algorithms, solving pricing and valuation challenges and promoting its application in the DeFi space. The platform simplifies NFT sales data analysis, enhancing user accessibility and insights. It will integrate complex AI models for transaction forensics, which requires careful extraction of data from the blockchain’s inception and is more demanding on memory and processing power.

The decentralized platform’s capabilities extend beyond NFTs and include use cases such as tracking cryptocurrency prices, monitoring social media sentiment, and predicting market trends. Its strength lies in its adaptability and the continuous addition of new algorithms to meet market needs. As more developers contribute, the platform becomes increasingly powerful, versatile, and valuable for a variety of use cases.

A key feature of the platform is its community-driven nature, allowing developers and users to jointly influence its direction and propose new algorithms, features and use cases. The platform will be deployed on existing EVM-based Layer 2 solutions. As the network expands and data accumulates, its value will continue to grow in a variety of use cases such as NFT valuation, fraud detection, market trend prediction, and social media sentiment analysis. The network aims to set a new standard for data analysis by providing rich, accurate and comprehensive data and enable the community to make informed decisions based on reliable information.

BitsCrunch plans to build an NFT-related analysis and metadata platform, including transaction volume detection, price analysis, authenticity detection, copyright protection, scoring, market index and other different products.

Token economic model

One article to understand BitsCrunch, the decentralized data analysis platform that will soon be launched on Coinlist

According to the white paper, the token BCUT is distributed as follows:

  • Ecosystem: 18.0%

  • Additional Airdrop: 1.5%

  • Network Bootstrap Reward: 10.0%

  • Listing and MM: 5.0%

  • Additional Development Fund: 6.0%

  • Growth: 7.0%

  • Security Buffer: 5.0

  • Seed Sale: 10.0%

  • Private Sale: 10.0%

  • Strategic Sale: 3.0%

  • Public sale: 7.0%

  • Airdrop Phase 1: 0.5%

  • Team: 15.0%

  • Advisors: 2.0%

Original article, author:jk。Reprint/Content Collaboration/For Reporting, Please Contact report@odaily.email;Illegal reprinting must be punished by law.

ODAILY reminds readers to establish correct monetary and investment concepts, rationally view blockchain, and effectively improve risk awareness; We can actively report and report any illegal or criminal clues discovered to relevant departments.

Recommended Reading
Editor’s Picks