BlockTalks x bitsCrunch AMA Transcript!
We recently hosted an AMA with bitsCrunch on January 24th at 2PM UTC. Many of you might have participated, or many of you might not. But we ensure no one misses out on the knowledge shared by Ajay Prashanth, Head ecosystem growth at bitsCrunch. So here we are up with the AMA transcript; for those who missed the live session, this blog post will be a saver & feeder of knowledge for them.
Introduction Questions Asked By Team BlockTalks!
Q1. Could you please introduce bitsCrunch to our community in layman’s term?
Ans — bitsCrunch is a leading global data analytics firm specializing in multi-chain insights for NFTs and digital assets. We are on a mission to elevate the global Web3 ecosystem by forging a safer, more transparent future for NFTs. Our network aims to achieve this by offering unparalleled NFT data insights, forensic data, and development tools. In layman terms, we are trying to address some of key issues in this NFT space.
⁃ Rampant Washtrading to manipulate NFT price or gain undeserving rewards.
⁃ Challenge to price and value NFTs.
⁃ Track and view your favorite NFT collections.
⁃ Digital art forgery stealing other’s work and profiting from it.
You can find more details on our official website regarding our services and offering — https://bitscrunch.com
Q2. What are the advantages of bitsCrunch to the other alternatives in the Blockchain field?
Ans — bitsCrunch Network is an AI-enhanced data network that delivers high-quality NFT analytics and forensic data. Which are Accessible via APIs, the network promotes a community-driven ecosystem and encourages diverse application development.
Forensic data: bitsCrunch Network offers detailed forensic data on NFTs, enabling users to identify potential risks, fraudulent activities, and maintain security.
High-quality NFT analytics: Users are able to make informed decisions about their investment with in-depth analytics.
These are some of things which sets up apart in the space.
Q3. What are the major milestones bitsCrunch achieved so far & what are in the future pipeline?
Ans — bitsCrunch BCUT Community Sale Sells Out In Record 24 Minutes on Coinlist Platform with more than 3,300 unique token holders to the rapidly expanding bitsCrunch community. With over 38,000 unique registrants and participation from 163 countries! We have Onboarded 50 dynamic start-ups to bitsCrunch Start-up Program, fostering innovation and growth! Also we have 60,000+ Testnet Customers, 320K+ Transactions, 420M+ Queries and 84,000+ unique wallets and a strong community of 160,000+ members.
We have more — you can checkout our official Twitter handles for more information and to stay up to date! https://x.com/bitscrunch
Questions Asked on 𝕏 for bitsCrunch Team!!
Q1. What are some of the primary functions and purposes of the bitsCrunch token $BCUT, and how it contributes to driving adoption and maintaining network security within the ecosystem?
Ans — BCUT is a digital token native to the network, providing access to enriched NFT data within the bitsCrunch ecosystem. You can find more information on white paper here — https://bitscrunch.com/bitsCrunch_Whitepaper.pdf
Q2. Recognizing and rewarding quality in content and engagement is commendable, but the definition of “quality” can be subjective. Could you shed light on the metrics, benchmarks, or checks-and-balances bitsCrunch employs to objectively assess Ambassador content and engagement?
Ans — To transition communities from Web 2 to Web 3 space and educate them about the Blockchain, NFT. The journey of bitsCrunch began like this — with an eye to blending cutting edge technologies like Artificial Intelligence and Blockchain, a bunch of talented individuals spearheaded tools to solve problems like bootlegging, fair price estimation, and washtrading identification of NFT. We are seeking help to test and develop the bitsCrunch protocol on all fronts including the network’s security, operations, performance, and user experience. Community members can contribute to our network and earn rewards!
Q3. bitsCrunch has partnerships with some top NFT marketplaces, can you explain how this collaboration contributes to real-time analysis and verification? Furthermore, what implications does it have on the authenticity and pricing within the NFT market?
Ans — We have partnered with few top leaders in this NFT space specifically! We are honored to be recognized as an early BUILD partner of ChainLink, the pioneering blockchain project. This collaboration signifies our dedication to advancing the ChainLink ecosystem and contributing to its development.
Q4. Can you provide a comprehensive breakdown of the tokenomics of the bitsCrunch utility token $BCUT, including details on the initial staking allocation, revenue generation, and how it is distributed within the ecosystem?
Ans — As I have already mentioned BCUT is the native utility token for the bitsCrunch Network. Core functions and utility of the token include are
Incentive Alignment: The token serves as a motivational tool, compelling Operators, Delegators, Indicators, and Contributors to stake their tokens.
Network Security: Through mechanisms like staking, the BCUT token can bolster security measures, making malicious activities.
You can check out whitepaper for more details — https://bitscrunch.com/bitsCrunch_Whitepaper.pdf
Q5. BitsCrunch emphasizes forensic data as a crucial tool in the digital art world to identify fraudulent activities related to NFTs. Can you elaborate on the specific forensic measures and tools employed by BitsCrunch to identify risks, detect fraudulent activities, and maintain the overall security of the NFT market?
Ans — Some of our tools which include, Enhancing Security in the NFT Landscape with bitsCrunchs Inbuilt Fraud Detection and Alerting. Also Leveraging Data-driven Insights for making Informed Investment Decisions and Enhanced Asset Security. Timely and Accurate Insights: The real-time data from our network ensures the delivery of accurate, timely, and relevant insights tailored to the latest trends.
Questions Asked by our BlockTalks Community Members during live Session to bitsCrunch Team!!
Q1. Does the platform provide historical data on NFT prices and trading volumes?
Ans — Yes, you can check more information on API endpoints which we provide. https://docs.unleashnfts.com/docs/about
Q2. I came across a tweet yesterday which say the $BCUT token would be launching on 20th February 2024. Are you aware of this? What should we prepare down in anticipation to such event next month?
Ans — We will be listing our BCUT token on major exchanges soon! You can follow our official handles for updates.
Q3. Is bitsCrunch is cross — platform compatible. If yes please tell because it is very necessary and may I know what all blockchains does bitsCrunch support currently ?
Ans — We support Ethereum, Polygon , AVAX and binance chain right now.
Here are some important links of bitsCrunch 👇🏻
✅ Website: https://bitscrunch.com/
✅ Telegram: https://t.me/bitsCrunch/
✅ 𝕏: https://twitter.com/bitscrunch/
✅ Whitepaper: https://bitscrunch.com/bitsCrunch_Whitepaper.pdf
