A Google Analytics for the Blockchain? BlockCorp launches BlockTrail

BlockCorp has launched a Bitcoin analytics platform, BlockTrail. In competing in blockchain.info and blockr, the platform is intended as more

BlockCorp has launched a Bitcoin analytics platform, BlockTrail.

In competing in blockchain.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.

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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.”

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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.

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