A Google Analytics for the Blockchain? BlockCorp launches BlockTrail

BlockCorp has launched a Bitcoin Analytics Analytics Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision making. In the trading space, analytics are applied in a predictive manner in an attempt to more accurately forecast the price. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analyt Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision making. In the trading space, analytics are applied in a predictive manner in an attempt to more accurately forecast the price. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analyt Read this Term platform, BlockTrail.

In competing in Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term.info and blockr, the platform is intended as more than a blockchain explorer. It will target institutional and governmental clients, offering deep insights into transactions and network data.

Although bitcoin transactions are technically anonymous, trends can still be drawn and associations can be made. For example, certain addresses can be identified with mining activity or gambling transactions. Said CEO Boaz Bechar:

“We could imagine a day in the future where people will evaluate where the money has come from."

Although much data is readily available through blockchain exploration today, such a sophisticated level of information is not easily accessible to those not running their own bitcoin servers or engaging in complex data crunching operations. In a sense, it can be viewed as a Google Analytics for the blockchain.

Like blockchain.info, data like mining pool hashrate distribution is recorded, in addition to the basic transaction/address data. There are also featured analyses of interest, such as the richest address and the USMS Bitcoin auction.

BlockCorp is injecting €500,000 ($669,310) into BlockTrail. BlockCorp, founded of Bechar and VKontakte co-founder Lev Leviev, may add further funding as needed once the product is off the ground.

The move comes at a time of growing competition in the blockchain exploration sector. Coinbase recently acquired blockr, a blockchain exploration service, potentially offering stiff competition to blockchain.info.