Coinalytics Launches Blockstem API to Browse Hidden Blockchain Relationships

Coinalytics has released its API, branded as Blockstem, allowing users to more easily query the 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 and uncover hidden relationships.

Coinalytics is a startup creating tools to gain deep, sophisticated insights into blockchain data. It has taken a focus on fraud detection and compliance, reportedly garnering the interest of several companies looking to use its tools.

The startup has analyzed the flow of bitcoins from incidents such as the Moolah fiasco and the operation of Silk Road 2.0, which was shut down last November.

Coinalytics was one of five bitcoin companies to be accepted into 500 Startups’ incubator program last year, securing funding of $100,000. Having only recently graduated from the program, the launch is being touted as a significant milestone. Said Fabio Federici, co-founder and CEO, on the API release:

"Blockstem is the culmination of a ton of back-end work to build a robust and powerful platform. After our time in 500 Startups, we knew we could build the best blockchain data API in the world for the Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term industry, and we believe we have accomplished that."

Federici added that blockchain is the "most powerful data set" he has ever seen, and therefore, his startup is determined to turn such data into actionable insights.