In brief
- D5 has released Nansen, its first data analytics platform.
- Nansen uses machine learning and other strategies to label Ethereum addresses.
- It has already labelled 40 million addresses.
D5, the data science DAO, today launched Nansen, its first data analytics platform, in a bid to provide greater transparency over the Ethereum blockchain.
Nansen uses a combination of machine learning, algorithms and research to analyse the Ethereum blockchain. One of its main objectives is to label each blockchain address to show that it belongs to an exchange, a decentralized finance (DeFi) user, or a project. So far, it has labelled 40 million addresses.
“After years of working with crypto projects, we found many of the same needs for analytics recurring,” said Alex Svanevik, co-founder at D5, in a press release. “We built Nansen to provide crypto professionals with an analytics solution for on-chain data, enriched with millions of wallet labels.”
Tracking Ethereum movements across the DeFi space
By labelling Ethereum addresses, Nansen makes it easier to observe the movement of funds across platforms and the DeFi space.
“Some of our early users are crypto funds,” he said, “These users have integrated Nansen into their investment processes—and they simply don’t make investment decisions now before consulting Nansen first.”
D5 is a decentralized autonomous organization (DAO) made up of data scientists and engineers. It is the primary contributing organization to Ethereum ETL, an open source project, which powers Google’s BigQuery datasets for Ethereum. Its clients include decentralized exchange maker 0x Project, decentralized organization provider Aragon, and DeFi aggregator Totle.
Decrypt has worked with D5 on a previous article. In February, we used data from D5 to track 133,000 Ethereum names. The addresses we looked at contained 364,000 ETH, worth $100 million at the time. We were able to showcase the privacy risks involved with using the Ethereum Name Service, largely due to the transparent nature of the Ethereum blockchain.
But for D5, the transparent nature of Ethereum is what makes Nansen possible.
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FAQs
With Nansen's Analytics platform, projects can “gain deep insights into capital flows across various ecosystems and the happenings within the space.” The platform “features dashboards that cover everything from tokens to DeFi and even NFTs, all powered by real-time on-chain data enriched by over 250M wallet labels.”
How does Nansen work? ›
Nansen enhances blockchain data processing by enriching the data sets, with wallet labeling being a key enrichment. Crypto wallets are digital wallets used to store cryptocurrencies, and each wallet has a unique address that serves as a unique identifier during transactions.
What is Nansen in crypto? ›
Nansen is a blockchain analytics platform that enriches on-chain data with millions of wallet labels.
Is Nansen free? ›
An often-overlooked aspect of Nansen is its free dashboards and tools that provide a wealth of insights for anyone actively participating in or monitoring the cryptocurrency landscape.
What did Nansen discover about the depth of the Arctic Ocean? ›
“Before Nansen left for his expedition, scientists took for granted that the Arctic Ocean was shallow, and they thought there might be islands there. But Nansen discovered that the ocean was 4000 metres deep!”
What is the Nansen initiative? ›
The Nansen Initiative is a state-led, bottom-up consultative process intended to build consensus on the development of a protection agenda addressing the needs of people displaced across international borders in the context of disasters and the effects of climate change.
How is data analytics used in blockchain? ›
Blockchain analytics is the process of analyzing, identifying, and 'clustering' data on the blockchain, which is a public cryptographic distributed ledger. In order to identify key information about users and transactions, blockchain analytics models and visually represents data.
Does Nansen use AI? ›
About Nansen
The Singapore-based startup deploys AI algorithms to analyze petabytes of crypto trading data per day, allowing customers to discover opportunities, perform due diligence, and defend portfolios with real-time dashboards and alerts.
What are the NFT statistics for Nansen? ›
NFT Market Statistics
Nansen's Trends & Indexes dashboard shows that to date in 2022 the Ethereum NFT sphere has seen 8.22 million ETH in trading volume across 2.46 million unique wallets. The NFT market possesses a total market cap of more than $11.3 billion.
Is Nansen a blockchain? ›
Nansen is a blockchain analytics platform that analyzes 100M+ labeled wallets and their activity on Ethereum, Polygon, Avalanche, and numerous other L1 and L2 blockchains. Crypto investors use Nansen to discover opportunities... Show more. Nansen's mission is to surface the signal in blockchain data.
Alex Svanevik is the Co-Founder & CEO at Nansen .
Is Nansen open source? ›
Beyond this, Nansen leverages a range of open-source technologies, including: Ethereum ETL (or Blockchain ETL more broadly) Metabase. dbt.
How much is Nansen worth? ›
Nansen revenue is $7.7M, valuation more than $750M.
What is Arkham intelligence? ›
Crypto data firm Arkham Intelligence is facing scrutiny from privacy-focused crypto advocates after announcing the Arkham Intel Exchange, a new service that incentivizes people to reveal the identities behind otherwise anonymous blockchain addresses.
What are the uses of Nansen bottle? ›
The Nansen Bottle was developed in 1894 by oceanographer Fridtjof Nansen and was used in oceanography until about 1981. It was mounted on a wire lowered from a ship and used to sample water and measure temperature at depth.
What organization did Fridtjof Nansen lead? ›
Nansen was appointed the first High Commissioner for Refugees by the League of Nations in 1921, a post he held until his death in 1930.
When did Fridtjof Nansen sail? ›
Fridtjof Nansen, (born October 10, 1861, Store-Frøen, near Kristiania [now Oslo], Norway—died May 13, 1930, Lysaker, near Oslo), Norwegian explorer, oceanographer, statesman, and humanitarian who led a number of expeditions to the Arctic (1888, 1893, 1895–96) and oceanographic expeditions in the North Atlantic (1900, ...
