What Is ChainStats?
Abstract
ChainStats is an innovative on-chain analysis application designed to provide comprehensive analytics, data aggregation, and multi-chain consensus for blockchain data. The platform aims to overcome the challenges of data silos and enable efficient contextualization and understanding of on-chain analytics across different blockchain networks.
The ecosystem consists of three main components: the platform, the community & the Node Portal. The platform serves as an all-in-one application for market participants of all levels to leverage on-chain statistics for research and analysis. The Node Portal acts as a blockchain-agnostic hub that aggregates data from various distributed ledger technology ecosystems for further utilization, including private consortium DLTs. While the community ensures consistent development of the application and decentralized data validation.
Why ChainStats?
ChainStats is revolutionizing the landscape of on-chain data analysis by addressing the inherent complexities and limitations of existing options. With the aim of democratizing access to on-chain analytics, ChainStats provides a user-friendly platform that caters to both retail market participants and institutional users.
Traditional methods of analyzing on-chain data are often convoluted and challenging to comprehend, posing a significant barrier to entry for many users. However, with ChainStats, this barrier is shattered, as the platform offers real-time insights into market activity in a modern and easily digestible format.
The platform’s core strength lies in its ability to harvest and aggregate data from various blockchain networks, including private consortium distributed ledger technologies (DLTs). By overcoming data silos and offering comprehensive analytics, ChainStats empowers users with actionable insights to make informed decisions. Whether it’s a retail trader seeking to analyze market trends or an institutional investor conducting in-depth research, ChainStats provides the tools and information needed to navigate the complex world of blockchain data.
Tokenomics
The STATS token is the native token of the ChainStats ecosystem and plays a critical role in accessing and utilizing on-chain data. It is a utility token that provides various utilities and benefits within the ChainStats ecosystem. The token’s purpose is to enable access to on-chain data, including subscriptions, data access passes, rewards for Chain Guardian holders, governance and voting rights, discounts on merchandise, services, marketplace transactions, customization options, and more.
Below displays the allocations of STATS into each respective department:
Token Utility
The STATS token offers several utilities, with some of the primary use cases being:
- Premium access to the platform,
- Data validation by Chain Guardians
- Compensation for validators
- Participation in governance decisions
- Discounts on merchandise
- Paid services such as data extraction and integration
- Advanced data access passes
- ChainStats Digital Marketplace transactions
- Customization options
- utilization of ChainStats validated data for personal applications or private DLT integration
Chain & Master Guardians
Chain and Master Guardians play pivotal roles as verifiable credentials within the ChainStats economy.
They are registered permissioned data validators, responsible for ensuring the integrity and reliability of the data in the ecosystem. To initiate the validation process, users are required to complete three essential procedures.
- Acquire a Chain Guardian NFT: The first step towards becoming a validator involves obtaining a Chain Guardian NFT. This NFT serves as a verifiable credential, indicating the user’s authorization to validate data within the ChainStats ecosystem. Each Chain Guardian NFT is associated with 75,000 STATS tokens, establishing a tangible value and securing the validator’s position on the network.
- Register Account & Node Identity: Once in possession of a Chain Guardian NFT, users must proceed to register their account and node identity with the ChainStats Foundation. This step ensures that validators are officially recognized within the ecosystem and can begin their data validation activities.
- Obtain & Set up the Required Hardware/Software: To effectively validate data, validators need to acquire and set up the necessary hardware and software components. This ensures they possess the tools and infrastructure required to participate actively in the validation process.
Expansion and Scaling
As the ChainStats platform continues to evolve, introducing new integrations and features, the need for data validation grows. To meet this demand, additional Chain Guardians will be minted to secure and decentralize data validation at scale.
While the initial launch includes 100 Chain Guardians and 100 Master Guardians, the number of Guardians may vary in subsequent phases. However, it is important to note that the quantity of Master Guardians will never exceed the total number of Chain Guardians, maintaining a balanced and controlled growth within the ecosystem.
To learn more, please read our whitepaper.
About ChainStats
ChainStats is an on-chain analysis application built for analytics, data aggregation and multi-chain consensus in blockchain data. The utilization of on-chain data within various industries is expanding, and its potential is limitless. However, there is currently no platform that serves as a comprehensive terminal to access all the utilities brought forth by blockchain data due to data silos preventing the ability to efficiently contextualize and understand the rich, immutable, and real-time analytics from different blockchain networks.
