Nansen, a blockchain analytics provider, recently raised $75M in a Series B funding round to support its mission of helping users across the globe make well-informed decisions based on blockchain data.
Nansen is a rapidly growing company, and its success story is becoming a major talking point within the blockchain analytics landscape. This article looks at how Nansen is helping to shape the blockchain analytics landscape.
Overview of the blockchain analytics landscape
The blockchain analytics landscape, which is ever-evolving, can be broken down into four key areas; on-chain analytics, tracing funds and tracking movements of cryptocurrencies, transaction-level analysis covering enrichment of data such as wallet activity, and finally exploring new business opportunities in collaboration with industry leaders.
Nansen has identified a need for a platform that provides an all-in one view of the blockchain with sophisticated analytic capabilities. Nansen integrates various data sources available in the public domain to deliver actionable insights. Nansen applies natural language processing techniques such as sentence segmentation and entity extraction and non-AI based techniques like rule-based clustering to deliver accurate results.
Nansen also applies a unique approach to blockchain optimization by surfacing information on non-standard transactions forgotten by other players in the market but still pose significant risks to users. Finally, security is taken very seriously at Nansen with multiple layers of encryption used throughout the system.
Overview of Nansen
Nansen is a blockchain data- and analytics platform aiming to revolutionize the industry by bringing together disparate sources of blockchain data, creating a single repository of Blockchain insights. By aggregating, analyzing, and visualizing realtime data from up to 30+ blockchains – Nansen is establishing a centralized hub for tracking, monitoring and analyzing traditional on-chain and off-chain metrics.
In contrast to most other existing blockchain analytics platforms that rely solely on on-chain data – Nansen takes into account the bigger picture by accounting for both traditional on-chain metrics & variables (transaction fees & volume, token holders etc.) as well as taking into account off-chain metrics like social media & communication channels activity and developing trends in the crypto asset space.
By enabling users to gain a comprehensive understanding of their cryptocurrency investments at various depths in an insightful manner – Nansen has put its focus on allowing decision makers & investors access to an ecosystem level dataset from one single place. Through its full suite of APIs and dedicated APIs for developers – It’s mission is also to create an end-to-end visualization layer for users across various industries looking for efficient analysis of assets within their portfolios.
Nansen’s Impact on the Blockchain Analytics Landscape
Recently, blockchain analytics provider Nansen raised $75M in a Series A financing round. This is a notable milestone that shows how the blockchain analytics landscape is being transformed by Nansen.
In this article, we will explore the impact Nansen has had on the blockchain analytics space and discuss their vision for the future.
Nansen’s $75M funding round
On October 8th, 2020, Nansen announced a $75 million funding round from high-profile investors, including Foundry Group and Y Combinator Continuity. These investments mark an important milestone for the blockchain analytics platform and highlight the increasingly important role that blockchain analytics plays within both traditional and emerging industries.
The platform functions as a network aggregating distributed public data sources from various blockchains and protocols, including Bitcoin, Ethereum and other cryptocurrencies. This massive trove of data can then be used to generate insights into the behavior of individuals or organizations interacting with these networks. Through use case-specific algorithms, customers can gain information on suspicious or anomalous activities or identify suspicious addresses or contracts associated with any particular business. The platform also provides predictive analytics capabilities tailored to specific use cases and sectors to identify potential opportunities or emerging trends in markets or industries.
In addition to the 75 million dollar funding round, Nansen has recently partnered with Alor Group and AIG Life & Retirement Services to expand their network even further and unlock more opportunities for their customers. This newfound financial expedition allows Nansen to grow its already expansive network further by enhancing its existing suite of blockchain analytics capabilities and investing in new resources for product development. With these recent developments in place, it’s clear that Nansen is paving the way for a new era of blockchain analysis — one with applications far beyond simply tracking cryptocurrencies or financial assets.
Nansen’s solutions for blockchain analytics
Nansen is a fintech company that provides blockchain analytics solutions to investor and financial institutions. Their enterprise platform for data exploration, analysis and monitoring can help businesses gain better insight into the constantly evolving blockchain technology landscape. The platform offers powerful analytics tools such as transaction monitoring, real-time alerts and compliance tools to enable organizations to make more informed investment decisions.
Using an ontology-based approach, Nansen’s machine learning algorithms can leverage advanced analytics techniques such as natural language processing (NLP), graph analysis and data mining to better understand the relationships between addresses or entities on the blockchain network. This allows users to identify transaction anomalies based on token transfer patterns or exchange behavior related to different addresses.
Using data visualisation tools that turn massive datasets into valuable insights, users have a holistic view of their portfolio about other participants on the blockchain network. This helps organizations detect fraud, money laundering and suspicious payments in real-time while also providing them with comprehensive reports which include transaction volumes and trends over time. Nansen’s risk assessment platform helps users better assess whether a specific address has been linked to any illegal activity or money laundering schemes before making an investment decision.
Nansen’s intelligence solutions support regulatory compliance such as KYC/AML checks by allowing businesses to verify customer identity documents more effectively. This reduces compliance costs by streamlining manual processes while at the same time ensuring that organizations meet required standards when dealing with Know Your Customer (KYC). All these features make Nansen an important player in the rapidly changing blockchain analytics landscape, as it provides powerful solutions that allows businesses around the world to make more informed decisions while staying up-to-date with regulatory frameworks.
Nansen’s partnerships with leading industry players
Nansen, a San Francisco-based blockchain analytics provider, is making waves in the blockchain and cryptocurrency space. Their platform has been designed to enable businesses to gain better insights into their data by providing customers with a complete suite of tools for investigating on-chain data.
One of the key components that makes Nansen stand out from its competitors is their partnerships with some of the leading industry players. These include leading exchanges such as Kraken and Binance, as well as prominent wallet service providers like BitGo.
The partnerships and collaborations with various industry players allow Nansen’s platform to provide users access to vast amounts of real-time transaction data across many networks. This provides invaluable information not only for traders looking to take advantage of certain market conditions, but also for businesses that need to have a better understanding of how blockchain networks are being used by different entities globally.
Moreover, this partnership network allows Nansen’s research team direct access to information which might otherwise be difficult or impossible to acquire quickly. This helps them stay up-to-date on financial activities within the crypto asset space so they can identify behavioural trends and other timely information important for informing investment decisions.
Benefits of Nansen’s Solutions
Nansen, a blockchain analytics provider, has recently raised $75M in a Series A funding round. This has helped to propel the company to the forefront of the blockchain analytics landscape.
Nansen’s solutions offer immense benefits for businesses who want to gain a better understanding of their blockchain data. In this article, we’ll be looking at how Nansen’s solutions are changing the blockchain analytics landscape and the advantages they bring.
Improved data accuracy
Nansen’s solutions are designed to improve the accuracy of data processed by blockchain analytics platforms. Using secure algorithms, decentralized storage, and distributed computing methods, Nansen can obtain high-quality data from hundreds of thousands of sources in real time.
These datasets are then cross-verified to ensure their accuracy and completeness. This data accuracy is further augmented by Nansen’s sophisticated machine learning models which enable the platform to identify trends and patterns that indicate potential illegal activity or fraud.
Furthermore, built-in scanning capabilities can detect anomalies such as discrepancies between data sources or suspicious changes in user behaviour over short periods. The combination of these features gives blockchain analytics platforms an unprecedented level of assurance when it comes to verifying transactions and detecting fraudulent activities on a network level.
Enhanced transparency
Nansen Solutions provides a comprehensive end-to-end analytics platform that enables all stakeholders in the blockchain industry to benefit from real-time data, insights, and transparency. By leveraging the latest technologies and data protocols, Nansen can give users transparency over their assets.
Thanks to the addition of always up-to-date blockchain records and enhanced automatic reconciliation, users can now have greater confidence in their asset holdings. This heightened level of assurance can have an outsized impact on liquidity decision making throughout the entire asset allocation chain.
The Nansen system performs advanced pattern recognition across hundreds of financial metrics — from activity on Ethereum, to defining relationships between assets based on real price movements. This intuitive dashboard powered by AI enables users to define and monitor any combination of parameters for more effective tracking than ever before offered by any other asset management tool.
By considering macroeconomic trends and allowing investors access to enhanced insight into all crypto trading activities visible across platforms and exchanges, Nansen has revolutionized the tools available within this space. Users can refine blockchain analytics with a range of aggregations that enable improved portfolio visibility for easier investment decisions powered by data – making it easier than ever before for professionals from institutional traders all way through retail investors.
Improved scalability
Nansen is a blockchain analytics platform that combines cutting-edge data engineering and machine learning techniques to deliver valuable insights about digital assets. It offers many benefits for users, including improved scalability, greater speed and efficiency, enhanced reporting capabilities and more reliable analytics.
The Nansen platform is powered by Apache Kafka and ElasitcSearch technology which enables it to break down transactions into discrete events, store them efficiently in the database and categorize them according to user-defined rules. This facilitates more efficient search across large datasets. Additionally, Nansen leverages the power of Apache Spark to process large datasets in parallel without adding too much overhead to the system. By leveraging these technologies, Nansen is able to provide powerful analytical capabilities on multiple levels – from individual transactions to complex network analysis.
Nansen also uses a sophisticated data pipeline that allows it to quickly process high volumes of data with minimal latency. The data pipeline components can be configured according to user requirements in order to get optimal performance from any given analytics task. The system also provides access control mechanisms so that users can decide who should be able to view certain reports or access certain information within their databases.
Overall, Nansen helps its users improve scalability and increase efficiency when it comes to blockchain analytics processes as well as enhancing reporting capabilities for gaining better insights into digital assets or activities involving digital assets such as crypto trading or money laundering prevention efforts.
Conclusion
Nansen’s successful $75M early-stage funding is a testament to their cutting-edge technology and the impact it has had on the blockchain analytics space. In a short period of time, the company has established itself as a leader in the space and has provided customers with unprecedented visibility into their data.
This new funding only furthers their promise of providing even more powerful analytics for their customers and the wider blockchain community.
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