WHAT IS ON-CHAIN DATA?
On-chain data includes the information of all occurred transactions on a certain Blockchain network – or put differently – all information written on the blocks of a Blockchain.
In the case of a public Blockchain, this information is available for everyone to see. The data can be broadly classified into three distinct categories:
- Transaction data (e.g., sending and receiving address, transferred amount, remaining value for a certain address)
- Block data (e.g., timestamps, miner fees, rewards)
- Smart contract code (i.e., codified business logic on a Blockchain)
ON-CHAIN DATA ANALYSIS – SOLUTION TO WHALE TRICK
Understanding the movement and behavior of the “Whale” will help us somewhat reduce our risk in the market.
Unlike other markets, where you cannot observe the behavior of “whales”. Because all information is public and transparent on the network. So, for blockchain, you can trace transactions easily. This solution is called On-chain data analytics.
This is one of the schools that provides accurate information about on-chain transaction history to bring a new way of thinking to investors on how to value, as well as inform investors. What are the actions of investors in the market that technical analysis cannot do? We can see that on-chain data is the most honest and clear data.
Read more at: https://blog.uquid.com/