Read about BitsCrunch, a decentralized data analysis platform that will be launched on Coinlist soon

Original | Odaily

Author | jk

Odaily previously reported that CoinList officially announced that it will open the BitsCrunch (BCUT) token sale at 1 a.m. (Beijing time) on December 15, and registration is now open. BitsCrunch is a decentralized, AI-enhanced data network that provides analytics and forensic data for NFTs, wallets, and other public chain digital assets. **

The token supply of this sale is 60, 000, 000 BCUT tokens, and the price is 0.055 USDT. An additional 5, 000, 000 BCUT tokens are set aside for rewards, and 10, 000, 000 BCUT tokens (1% of the total supply) may be available for purchase during the BitsCrunch Community Sale, at the discretion of BitsCrunch.

Core Feature: A community-driven NFT data analysis platform

BitsCrunch believes that the NFT market has experienced significant growth in recent years, with sales volume in 2022 increasing by 300% compared to 2021, with total sales exceeding $80 billion. However, this growth has also been accompanied by a rise in NFT fraud issues, mainly because digitized NFTs are easy to counterfeit and sell. The lack of effective regulation of the market has led to an increase in fraudulent activity, with research estimating that 10% of NFTs on large NFT marketplaces are fraudulent. Not only does this result in huge losses for retail investors, but it also complicates the due diligence process. Due to the lack of accurate and comprehensive data analysis tools, users face an even greater challenge to effectively identify authenticity and assess the true value of NFTs, limiting their potential in the DeFi space.

According to BitsCrunch’s whitepaper, their product platform will employ advanced computing methods, AI algorithms, and incorporate data sources from on-chain and off-chain, including IPFS metadata. The decentralization of this platform will allow community developers to contribute additional algorithms to continuously improve data and unlock new use cases.

The platform provides reliable statistics on the growth and reach of the NFT market, protecting honest participants from money laundering traders who aim to steal rewards and value. It also provides accurate NFT asset valuations through ML algorithms, solving pricing and valuation challenges and facilitating its adoption in the DeFi space. The platform simplifies NFT sales data analysis, enhancing accessibility and insights for users. It will integrate complex AI models for transaction forensics, which requires careful extraction of data from the blockchain’s inception and requires higher memory and processing power.

The capabilities of this decentralized platform are not limited to NFTs, but also include use cases such as tracking cryptocurrency prices, monitoring social media sentiment, and predicting market trends. Its strength lies in its adaptability and the continuous addition of new algorithms to meet market demand. As more developers contribute, the platform becomes more powerful, versatile, and valuable for a variety of use cases.

A key feature of this platform is its community-driven nature, allowing developers and users to collectively influence its direction and come up with new algorithms, features, and use cases. The platform will be deployed on existing EVM-based Layer 2 solutions. As the network expands and data accumulates, its value will continue to grow in a variety of use cases such as NFT valuation, fraud detection, market trend forecasting, and social media sentiment analysis. The network aims to set a new standard for data analytics by providing rich, accurate, and comprehensive data and empower communities to make informed decisions based on reliable information.

BitsCrunch plans to build an NFT-related analysis and metadata platform, including trading volume detection, price analysis, authenticity detection, copyright protection, scoring, market index and other different products.

Tokenomics model

According to the whitepaper, the token BCUT is distributed as follows:

• Eco: 18.0%
• Additional Airdrop: 1.5%
• Network Bootstrap Reward: 10.0%
• Listing and MM: 5.0%
• Additional Development Fund: 6.0%
• Growth: 7.0%
• Security Buffer: 5.0
• Seed Sale: 10.0%
• Private Sale: 10.0%
• Strategic Sale: 3.0%
• Public sale: 7.0%
• Airdrop Phase 1: 0.5%
• Team: 15.0%
• Advisors: 2.0%