Node Portal Insights: Network Integrations into ChainStats
The decentralized and community governed decision on the ecosystem expansion of ChainStats is accomplished through consistent voting periods for participants to select which blockchain network they would like to see integrated next.
Utilizing On-Chain Data
As an on-chain data application, it’s only right that we also reflect and utilize the capabilities of this novel technology in our own approach to the operations of the ChainStats ecosystem.
Through using the data that is stored and validated on chain, it enables us to create a trustless and transparent system where the progressions of how ChainStats expands is truly governed and decided upon by gather the data on-chain of where our ecosystem will expand to next.
Participants within the ecosystem will utilize their STATS tokens to delegate to their preferred network integration based on the options seen in each respective voting period.
To learn more about the specific utilities of voting with STATS tokens, click here.
As seen above the voting mechanism will be a familiar style to how many ecosystems have functions for their participants to utilize their tokens towards delegating to either their favorite validators or proposals toward governance as an example.
We wanted to bring these community focused and decentralized aspects into our ecosystem to enable an application that brings both the familiar experience of Web2, but also bring the inclusion and new room for innovation brought forth by the concepts of Web3.
Looking Forward
As the ChainStats ecosystem continues to expand, the amount of data in the ecosystem will only continue to accelerate in growth as new ecosystems are consistently being added, expanding the scale and different types of data to be utilized.
Whether it may be used toward market analysis, supply chain tracking, energy monitoring, blockchain research, or any other vertical. At the end of the day it’s all data.
Our Node Portal will not only be built as the hub that allows all this data from not only different ecosystems, but also other tools and features such as additional analytic indicators and functions revolved around unlocking further insights with the data displayed on-chain.
The purpose of structuring the ChainStats ecosystem with this approach allows us to not only directly utilize the data that we bring to our platform users, but it also further proves the ability for on-chain data to provide any network or enterprise access toward clear, immutable information thats permanently recoded and fully programmable in regards to what the purpose of the data is utilized for.
In our case the data will be used toward analyzing what the ecosystem chooses to be the next step toward expansion for ChainStats. In many other cases depending on the focus, this data can be used towards business insights, financial management, analyzing market behaviour & any other respective sector that chooses to leverage on-chain data.
Node Portal Insights
Node Portal Insights is a series that brings different use cases brought forth by a hub of network nodes consisting of countless different blockchain nodes, aggregated into a single platform.
From the sourcing of the data, validation, up until its pushed to our application or extracted/integrated with third party applications leveraging our data as a service. The Node Portal Insights all the possibilities that can be brought forth by the Node Portal.
About ChainStats
ChainStats is an on-chain data ecosystem built for analytics, data aggregation and multi-chain consensus in blockchain data to enable utilization of on-chain data for industry purposes, ranging from analysis to leveraging the validated data through third party applications. Founded in 2022 by Brian Jun and Joshua Milbers in Delaware, US.
They are one of the early pioneers in building a platform to allow enterprise purposed on-chain data to enhance and build new business workflows through decentralized multi-DLT validation. For more information, visit the company website.
