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Exploring Chainsight's Potential
What Chainsight makes possible
Chainsight enables direct access from on-chain applications to various types of data based on on-chain information, ranging from raw historical data to complex economic indicators for each blockchain. Below, we present three representative demonstrations to illustrate the capabilities of Chainsight.
This demonstration showcases quantitative scoring of token distribution, with an emphasis on the diversity of token holders. For instance, tokens with significant allocation biases towards issuers or investors may experience drastic price crashes based on the opinions of a few holders. By combining time-updated indicators, data-driven decisions can be made, such as whether a specific token should be listed on a DeFi protocol.
This analysis utilizes time series data of prices to determine the volatility over a specified period. Volatility indicators are often used in financial contexts but can be challenging to handle on-chain due to the requirement for time-series data. Chainsight can calculate volatility over time, enabling your application to access and use this value.
It is difficult to access information in other networks in a trustless manner, but with Chainsight, it is possible to retrieve data arbitrarily, even if it is in other chains. This can be applied to realize Cross-Chain Lending across multiple chains. For example, by depositing assets on one chain, you can easily develop a function that allows you to use them on another chain.
Addresses involved in illicit activities are sometimes publicly available, and those receiving funds from them may be blacklisted. However, it's not feasible to manually add tracking addresses to each smart contract on a case-by-case basis. With Chainsight, a shared validator can be employed to prevent access from addresses that have transacted funds above a certain threshold.