Chainbeat Newsletter: Chainbeat v2

3/11/2020

Welcome to the newsletter from the Chainbeat team! The web 3.0 ecosystem is growing rapidly. Our goal with this newsletter is to provide insights and highlights on new and interesting projects that are building the decentralized future of tomorrow.

We are excited to announce the launch of the next evolution of Chainbeat which we are calling Chainbeat v2. In today’s newsletter, we will delve into some of the new features and metrics that make up this new release.

Chainbeat Links: Chainbeat | Sign up | Newsletter Sign up | Chainbeat Blog

This week’s featured project: Chainbeat v2.0

At Chainbeat, we believe in the process of continuous learning - we learn from our customers, the market, the various protocols that we work with every day. We learn so that we can evolve ourselves to the changing ecosystem, be insightful to our customers and add value to the ecosystem. We launched Chainbeat last year with support for Ethereum and with our next evolution we became multi-platform with the launch of our support for RSK, xDAI & PoA. And now we are taking our next step with the launch of Chainbeat v2.0. You can check out the latest release here.

What is Chainbeat v2.0?

Unlike the previous versions, in this release, we focus on feature refinement and introducing new metrics for the platforms that we support. The business of blockchain has become increasingly similar to running any internet or SaaS business. The metrics that convey the health of the ecosystem are increasingly becoming similar to understanding the health of any business. Questions like these below are now very much relevant to the blockchain apps and protocols: 

“How many new users have we added last month?”, 

“Are people coming back to use the protocol?“,

“What does the retention of users look like?”, 

“Which feature is the most popular in the DApp?”  

Chainbeat v2.0 is focused on providing new metrics and enhancing existing features to answer these types of questions. In addition to focusing on transaction metrics, starting today we are introducing new metrics that focus on users(new, retention, active), enhanced token metrics (daily ins & outs, detailed transactions) & market metrics(pricing, volume). But the one feature that we are very excited about is the brand new Chainbeat Overview. 

Chainbeat Overview

One of the most common new features requests that we get from our users is regarding the possibility of quickly getting a health check on how a certain protocol, DApp or wallet is doing. We could do it currently with Chainbeat but it's time-consuming. So instead of going through all the individual metrics could we have a collective overview that would show all the key metrics of the underlying smart contract on one page?

This inspired us to create the brand new Chainbeat Overview feature.

The Overview on a high level focuses on three key aspects of the underlying smart contract (or wallet) address:

  • System Activity - What is happening in the smart contract?

  • User Activity - Who and how are they interacting with the smart contract?

  • Token Activity - How are the underlying economics of the smart contract functioning?

Each activity has certain metrics that delves into the details of the underlying smart contract over the pre-selected timeframe. This timeframe is auto-selected based on the overall activity of the smart contract. If a certain metric needs further investigation, all one has to do is click on it and they will be directed to the actual reports page to further drill down into the details, including selecting the metrics information over the lifetime of the contract.  

We are working on further enhancements in the next version of the Overview like comparison trends over timelines, live feed and so on. If you have a specific feature or an issue that you would like to see please do contact us

User Metrics

Another new feature with this release is the new user metrics. With this feature now you can measure user adoption, growth, and retention for your smart contract. 

A few highlights with examples: 

Here is an example user growth chart over the lifetime of the smart contract - with existing users in blue and new users added in red. 

Here is an example user retention chart over the lifetime of the smart contract, with just one time users in red and users that have interacted more than once with the smart contract in blue with the interaction period shown on the y-axis and the count of users on the x-axis. 

The overall user adoption can be seen in this chart along with the top, max, min and average users per day. 

Summary

Chainbeat v2.0 is a fresh take on revealing brand new insights and metrics for all the new and existing blockchain projects. Obviously, we have only covered certain key highlights from this release in this post but there is so much more including new market data like pricing and token volumes that provide new insights when you pair with existing metrics. All these changes are available now and you can check it out by logging in to https://chainbeat.io or signing up for a  new account at https://chainbeat.io/users/sign_up

Please let us know your feedback and input at info@chainbeat.io and follow us on twitter @chainbeatinc for regular updates from us. 

Links

Website: https://chainbeat.io
Blog: https://medium.com/chainbeat
Twitter: http://twitter.com/chainbeatinc

Chainbeat Newsletter: Decentraland

2/26/2020

Welcome to the newsletter from the Chainbeat team! The web 3.0 ecosystem is growing rapidly. Our goal with this newsletter is to provide insights and highlights on new and interesting projects that are building the decentralized future of tomorrow.

As we mentioned in our previous newsletter, we are revamping our product offering and today we released a new onboarding feature on how the addresses are added into Chainbeat. Bigger and newer offerings are coming soon. Stay tuned!

Chainbeat Links: Chainbeat | Sign up | Newsletter Sign up | Chainbeat Blog

This week’s featured web 3.0 project: Decentraland

In this week’s newsletter, we cover the long-awaited launch of Decentraland, the virtual world built on the Ethereum blockchain. Decentraland first launched with their successful ICO in 2017, and have been building out their virtual world for the last 3-years and users have been trading their newly created digital land. On Feb 20, this virtual world was launched to the public for gameplay. See screenshot from Decentraland virtual world.

western.png

As the name suggests, Decentraland has been a decentralized effort with collaboration between multiple organizations with at least 30 independent studios actively creating content for the virtual world and several creating ancillary services, media and the DAO itself were created by Aragon. All of them enabling the virtual world where you can build and explorer 3D creations, play games and socialize.

To kick-off, there’s a treasure hunt with prizes totaling $100,000 in value. Here is the promotional video:

Data Insights

Our Thoughts

Links

Website: https://decentraland.org/
Virtual World: https://play.decentraland.org/
Marketplace: http://market.decentraland.org/

About Chainbeat

Chainbeat aims to be the first cross-platform analytics platform for applications building the decentralized web 3.0. We believe that web 3.0 will be built across many different blockchain platforms and providing data insights will benefit everyone involved in these platforms with a new way of looking at things.

  • We provide advanced analytics features that help enable cross-platform benchmarking and reporting across blockchain platforms.

  • We provide real-time data insights and alerts that can help you with fast decision making to help grow your business.

  • We currently have integrations with Ethereum, RSK, PoA, and xDAI. We are working on adding Tron next.

To learn more, visit https://chainbeat.io
If you are working on new and interesting projects in the web 3.0 space and would like it to be covered in this newsletter, email us at {info at chainbeat dot io}

Chainbeat Newsletter: Buttercup Bucks

2/12/2020

Welcome to the newsletter from the Chainbeat team! The web 3.0 ecosystem is growing rapidly. Our goal with this newsletter is to provide insights and highlights on new and interesting projects that are building the decentralized future of tomorrow.

Yes... It’s been a while since our last newsletter. We have been heads down working on revamping our product offering to provide new perspectives of looking at existing data along with brand new metrics and reports. We will be releasing these exciting changes in the upcoming weeks. Stay tuned!

We also expanded our network offerings with the launch of our integration with PoA and xDAI chains. If you are developing an application on POA or xDAI do check out our analytics offering.

Chainbeat Links: Chainbeat | Sign up | Newsletter Sign up | Chainbeat Blog

This week’s featured web 3.0 project: Buttercup Bucks(BCB)

To coincide with our PoA and xDAI support on Chainbeat, today we are featuring a fun project from last year called Buttercup Bucks (BCB) launched on the xDAI chain. BCB’s are digital tokens that launched at the Annual Splunk Conference(>10,000 attendees) last year. Splunk is the $18 billion public big data enterprise company that puts out this annual conference for all its customers and ecosystem partners.

Here is how the BCB worked at the conference:

Every registered attendee started with preloaded tokens in their pony purse, a web wallet inspired by Austin Griffith’s burner wallet. The BCB tokens were airdropped to 25,000 wooden poker chips before they were handed out. Users scanned the QR code with their phone and got hold of the value previously contained on the chip.

Throughout the event, Splunk used interesting ways for users to earn more tokens like giving product feedback or arriving early to the keynotes. Attendees had a chance to spend their tokens by acquiring standard conference swag or donating it to non-profits.

Data Insights

Data from Splunk at the end of the conference:

  • Over 10,000 attendees attended the conference

  • 1,868 poker chips were scanned worth 79,080 BCB.

  • 5,716 physical items were purchased in the store worth 75,812 BCB.

  • 38,878 BCB were donated to charity.

xDAI uses a delegated Proof of Stake (DPOS) consensus mechanism which makes gas fees a lot less compared to other networks. Because of the increased efficiency of the xDAI blockchain network, the total cost was just $1.54 in gas fees for all transactions from the conference.

The token usage behavior is interesting as seen in this visualization from Chainbeat, showing the rush of the token spending on the last day(Oct 24) of the conference before it loses usage value:

A lot of the BCB usage reflects some of the mainstream crypto usage: lots of one-time users trying out the novelty and a few early adopters catching on to the promise and using it regularly. Here is Chainbeat’s user activity chart within the conference time frame (Oct 21-24):

Our Thoughts

  • We think the BCB concept is a great way to introduce non-crypto people to the world of cryptocurrency. The “Pony Purse“ removed the friction and the traditional usability issues facing traditional crypto wallets.

  • The flexibility and ease offered by crypto were also a big difference maker to traditional currency - especially for donating to charity. From this CoinDesk article - The single highest donation of $10,446 was awarded to the human-trafficking awareness group Global Emancipation Network. It was donated by Caroline McGee, a cyber engineer for IT company SAIC, who told CoinDesk she managed to raise these funds by collecting other attendees’ unused BCB tokens. “It was a different mindset. People are hesitant to donate via their credit card especially at a cybersecurity or data science conference because of the potential risks. But because of it being a cryptocurrency, there was no question.”

  • Splunk focuses on providing big data solutions mainly to Enterprise customers. As we all know, Enterprises often prefer to operate in their own walled gardens. With the Buttercup POC, Splunk showcased the power and security of public blockchains directly to its enterprise customers. This reinforces the value provided by blockchains and we hope in the future, Blockchains will become another piece of enterprise technology.

Links

Splunk: https://www.splunk.com/
Splunk Conference: https://conf.splunk.com/
Splunk blog: https://www.splunk.com/en_us/blog

About Chainbeat

Chainbeat aims to be the first cross-platform analytics platform for applications building the decentralized web 3.0. We believe that web 3.0 will be built across many different blockchain platforms and providing data insights will benefit everyone involved in these platforms with a new way of looking at things.

  • We provide advanced analytics features that help enable cross-platform benchmarking and reporting across blockchain platforms.

  • We provide real-time data insights and alerts that can help you with fast decision making to help grow your business.

  • We currently have integrations with Ethereum, RSK, PoA, and xDAI. We are working on adding Tron next.

To learn more, visit https://chainbeat.io

If you are working on new and interesting projects in the web 3.0 space and would like it to be covered in this newsletter, email us at {info at chainbeat dot io}

Chainbeat Newsletter: RIF

1/8/2020

Happy New Year! Welcome to the first newsletter of 2020 from Chainbeat! The web 3.0 ecosystem is growing rapidly. Our goal with this newsletter is to provide insights and highlights on new and interesting projects that are building the decentralized future of tomorrow.

Chainbeat Links: Chainbeat | Sign up | Newsletter Sign up | Chainbeat Blog

This week’s featured web 3.0 project: RIF

We recently launched our integration with RSK, the first open-source smart contract platform powered by the Bitcoin network. One of the fascinating projects running on the RSK network is RIF. Today’s newsletter features an interview that we did with Gabriel Kurman, co-founder of RSK & Chief Strategist for RIF.

Ashok: Hi Gabriel! Nice to meet you. Thank you for taking the time to talk to us. Could you please introduce yourself, your background and how you got into blockchain?

GK: Hi Ashok! I am an economist from Argentina which sadly makes me an expert in inflation, devaluations and bank deposit confiscations…

I spent most of my career working in corporate finance and M&A until 2013 when I learned about Bitcoin for the first time at Labitconf 2013 and since then I never left the ecosystem.

I co-founded several Blockchain startups such as RSK/RIF and Koibanx along with several not for profit projects such as Blockchain4Humanity and La Bitcoineta.

Ashok: You are one of the cofounders of RSK, any backstory or inspiration that led you and your co-founders to start RSK?

GK: When you live in LATAM it is pretty clear that the current financial system is broken and needs to be changed in order to promote equality and equal opportunities for all.

This is what made the RSK co-founders realize that we couldn’t decide between the security and immutability of the Bitcoin blockchain and the programmability of Solidity smart contracts (which at the time were only available on Ethereum).

In order to serve the millions of excluded and underserved from the financial system, we needed ultra-secure programmable money which could only be achieved by smart contracts on Bitcoin… that’s why we created RSK.

Ashok: What is RIF? Can you explain your vision for RIF?

GK: The old internet is in crisis. All the freedom it created at the beginning has been transformed into a tool to control and spy users by Big Tech and governments.

Users converted into products with their personal data being hacked or sold to the highest bid. Sharing economies controlled by monopolistic companies and global networks divided by geopolitical interests, economic sanctions, and firewalls.

Now that Bitcoin has proven that a global, decentralized, open-sourced and public internet of value is possible, it is hard to believe that 20 years from now, we will continue to use a centralized, monopolistic and censored internet for our information.

The RSK Infrastructure Framework (RIF) aims to build on top of Bitcoin and RSK the remaining building blocks to create a fully decentralized internet.

RIF Payments, RIF Storage, RIF communications, RIF Gateways, RIF Directory, and RIF Marketplace are those building blocks that will allow the construction of decentralized peer-to-peer solutions protecting the users from corporate and government abuse.

All RIF services leverage the security and immutability of Bitcoin and RSK which will be key in the construction of truly decentralized sharing economies (DSE).

Ashok: Why should developers think about building their decentralized applications in RIF compared to the existing options? 

GK: One of the main goals of RIF is to simplify the life of developers. We are building our open source libraries as an abstract layer to allow developers to interact with multiple providers as easily as possible. 

For instance, RIF Storage created the decentralized economic incentives (on RIF Payments) so users can interact with Swarm and/or IPFS seamlessly. 

RIF Payments will allow interoperability between RIF Lumino and the Lightning network while our RIF Name Service (RNS) will also be integrated with ENS for Ethereum resolutions.

RIF Communications will also allow decentralized economic incentives on Libp2p to facilitate the development of decentralized chats while also allowing decentralized low-level communications between nodes (eg. Lumino nodes and even RSK nodes).

The RIF marketplace will allow users to consume and offer RIF services while also being available as a service for developers who want to create marketplaces and decentralized sharing economies secured by RSK and Bitcoin.

Ashok: What is the role of the RIF token? Do all applications need to use RIF token to build on RIF or can they use their own token?

GK: The RIF token can be used to consume all the RIF services which simplify significantly the interaction for a smart contract that needs to consume several of them. 

The RIF token can also be staked as an insurance of the quality of service by the premium providers.

Some of the initial uses for the RIF token will be: 

  • To register new RNS domains and to buy already registered domains

  • To purchase persistent availability on RIF Storage

  • To hire a watchtower service in case a RIF Lumino channel gets closed when the light client is offline. Premium watchtowers will also be able to ensure their services by staking RIF tokens as collateral

  • To reward the RIF communication nodes for decentralized exchange of messages

  • As part of RIF Gateways, users will be able to consume premium Notifier services, oracles, and escrow also with the RIF token.

  • The RIF marketplace will facilitate all these interactions and staking mechanisms also accepting RIF tokens for premium features and reporting.

On top of this, some RSK partners such as MoneyOnChain and Taringa are planning to use the RIF token as collateral for the development of stablecoins and reward programs.

Having said that, from a user standpoint all the RIF services will also be available in other crypto assets as well, which is a key element to ensure the interoperability of the RSK Infrastructure Framework with other crypto-economies. At the same time, the RIF token will also be portable to other crypto-economies to provide full interoperability and antifragility to the ecosystem as a whole.

Ashok: What can we build on RIF today what is coming up in the future?

GK: As of now you can use the RNS multi-blockchain service to register your alias domain (and subdomains) to simplify the interaction of non-technical users with blockchain technology.

You can also use the RIF token (and any other token on RSK) on the Lumino which allows state channels and thousands of transactions per second at extremely low cost.

RIF Storage is already available on the RSK testnet and the deployment with full economic incentives will be available on the RSK mainnet during 2020.

The initial POCs for RIF Communications and Gateways are also available and their full production versions will be ready during 2020 along with the RIF marketplace.

Ashok: Last question, you have been in the blockchain space for a while what are your thoughts on the current state of the ecosystem (maximalists, dominating figureheads, infighting, etc.) and the future of the industry?

GK: Bitcoin and blockchain technology will reshape the financial system and the Internet as we knew them. There will be multiple governments and tech giants affected by this paradigm change so extreme positions and attacks should not surprise us.

In my opinion, the most important thing to keep in mind is the potential positive impact that this technology can have on our global society. We are in a unique moment in time with a deep sense of disappointment in globalization, lack of political leadership and unsustainable inequalities. The social revolution behind blockchain technology is what all us, working in the ecosystem, should protect and promote.

The real revolution is not about having a decentralized ledger, it is about using that decentralization as a censorship-resistant tool to build a more inclusive and fair society for all. This is the main goal for all of us in the RIF team, and this is why we build our platforms on RSK secured by Bitcoin infrastructure.

Ashok: Thank you so much for taking the time and giving us an opportunity to talk to you.

Thanks for reading, and see you again at the next edition of the Chainbeat Newsletter!

Chainbeat Newsletter: Brave & BAT

12/11/2019

Welcome to the newsletter from the Chainbeat team. The web 3.0 ecosystem is growing rapidly. Our goal with this newsletter is to provide insights and highlights on new and interesting projects that are building the decentralized future of tomorrow.

Chainbeat Links: Chainbeat | Sign up | Newsletter Sign up | Chainbeat Blog

This week’s featured web 3.0 project: Brave & the Basic Attention Token(BAT)

Brave is a web browser founded by Brendan Eich, the creator of Javascript and founder of Firefox Browser. Brave comes with a built-in ad-blocker and its a lot faster than Chrome & Safari in both mobile and desktop environments. Unlike Brave, other browsers load ads that can potentially add up to 5 seconds of mobile load time.


In Brave, all adverts and trackers on a website are blocked and users are alternatively given the option of opting into the Brave Rewards program. The Brave Rewards program rewards users with Brave Attention Tokens (BAT) for viewing non-intrusive ads. The brave browser anonymously monitors user’s attention, and users are rewarded with BATs for their attention. Since users are opting in to view ads and are incentivized for their attention this creates a new ecosystem that enables advertisers to achieve improved ROI, better targeting and reduced fraud.

Here is a graphic that illustrates the lifecycle of BAT:

Publishers receive BATs based on the user’s attention, and the revenue of advertisers increases as inefficiencies decreases. Here is Brendan Eich explaining why he created Brave and the purpose of BAT:

Data Insights

A chart from Brave showing the staggering active user growth of Brave since launch last year:

Chainbeat Dashboard for Basic Attention Token depicting user engagement and token volumes across the board for this year.

  • This December, Brave passed 10 Million Monthly Active Users(MAU) and saw 19% Growth since version 1.0 launch last November.

  • Brave went from 8.7 million MAU in October to 10.4 million MAU at the end of November, a 19% increase across all platforms. This represents a doubling of Brave’s MAU in one year. Daily active users for Brave nearly tripled in the last 12 months, to 3.3 million.

  • As of December, there are 340,000 creators signed up for Brave Rewards. There have been up to 287,826 unique addresses that have interacted with the BAT contract this year.

  • In total there are 220,357 BAT Token Holders with an average balance of 6806 BATs and a median balance of 29.56 BATs. The top token holder has 135,286,008.20 BATs around 9% of the supply. Sign up for Chainbeat and add the BAT token address for detailed analysis.

Our Thoughts

  • We are big fans of Brave and what they stand for and how they are a great example of building and enabling the adoption of web 3.0 technology.

  • With all the haggling around in the blockchain space about which blockchain is better and all the larger than life figureheads that dominate the industry, Brave with its BAT token is a bit of fresh air. They focus on the current issues facing web 2.0 like how mobile users are currently abused by existing browsers(up to 50% of the average user’s mobile data is for ads and trackers) and how big centralized megacorps like Google and Facebook take 73% of all ad dollars and 99% of all growth from publishers and how Brave(along with BAT) solves this problem by providing them with a decentralized alternative that benefits all parties.

  • Basic Attention Token has a legit use case and a working product. With its fast-growing adoption and increased demand, it has the opportunity to create a brand new decentralized ecosystem for digital advertising.

  • The future does look interesting for the Brave browser and BAT with plans on implementing IPFS, releasing its own Brave Virtual Private Network (VPN), and the well-awaited release of Brave’s Software Development Kit (SDK) for the developer community.

Links

BAT Website: https://basicattentiontoken.org/
BAT Blog: https://basicattentiontoken.org/blog/

About Chainbeat

Chainbeat aims to be the first cross-platform analytics platform for applications building the decentralized web 3.0. We believe that web 3.0 will be built across many different blockchain platforms and providing data insights will benefit everyone involved in these platforms with a new way of looking at things.

  • We provide advanced analytics features that help enable cross-platform benchmarking and reporting across blockchain platforms.

  • We provide real-time data insights and alerts that can help you with fast decision making to help grow your business.

  • We currently have integrations with Ethereum, RSK, PoA, and xDAI (in staging). We are working on adding Tron next.

To learn more, visit https://chainbeat.io

If you are working on new and interesting projects in the web 3.0 space and would like it to be covered in this newsletter, email us at {info at chainbeat dot io}

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