itBit is about to join forces with TradeBlock to combine OTC Bitcoin trading with big data analysis

Bitcoin Exchange   itBit   In its October market report, it revealed that it will be working with Tradeblock, a leading blockchain data provider. Tradeblock is dedicated to the analysis of blockchain data, allowing enterprises to view its API. Since its establishment, Tradeblock has broadcast a series of blockchain analysis data and charts. In addition to the cooperation with Tradeblock, itBit also revealed that it will cooperate with some heavyweight exchanges and financial technology accelerators in the industry this year.

TradeBlock (formerly known as "Genesis Block") was founded in 2013 by Greg Schvey and Jeff Schvey to provide comprehensive blockchain transaction data analysis. The company hopes to simplify the process of users accessing the Bitcoin blockchain, including Bitcoin mining, Bitcoin supervision, Bitcoin transaction inquiries, etc. Customers can see the execution of transactions, real-time charts, orders, and other data from Tradeblock's international resources. This information analysis is very important for those companies that rely on data to gain a competitive advantage.

ItBit's partnership with Tradeblock will enable its customers and the public to view its OTC trading data, which will provide traders with more analytical perspectives. Tradeblock uses a charting engine and tool set to reduce the analysis associated with each segment of the blockchain. Tradeblock's system is able to collect data from global exchanges, including Kraken, Huobi, Bitfinex, etc. They also provide data analysis of nine Litecoin trading platforms, as well as Ethereum.

VM Trace allows users to watch the creation of an Ethereum smart contract. The system used by the platform to create smart contracts is called the Ethereum Virtual Machine (EVM). Users can use VM Trace to observe transactions occurring in the EVM. VM Trace is an upgrade to the monitoring level of TradeBlock software.

For the financial industry, data and data analysis are key, and the same is true for the Bitcoin industry, where blockchain query and transaction data analysis are key. Tradeblock sees this and believes that the data analysis industry has a future. The global big data analysis industry is expected to reach a market value of $125 billion by the end of this year. Data analysis services not only provide various data analysis models for the financial industry, but also provide data analysis in various aspects, including security, market forecasting, preventive maintenance, and competitive advantage analysis. In the future, companies will reduce their own solutions and outsource analysis. International Data Corporation, headquartered in Massachusetts, revealed that in the next five years, the growth rate of global outsourced data analysis will be three times that of internal solutions.

In July this year, Tradeblock cooperated with FinTech Sandbox to provide blockchain data to other financial institutions to help them survive and develop in the FinTech environment. FinTech Sandbox is a non-profit organization based in Boston that provides financial data and cloud hosting services to start-ups to promote the establishment of start-ups. After cooperating with Tradeblock, users of FinTech Sandbox will be able to use Tradeblock's premium toolkits and APIs for a given period of time, providing convenience for companies interested in blockchain and digital currency.

Original article: https://news.bitcoin.com/itbit-tradeblock-blockchains-big-data/
Author: jamieredman
Translator: printemps
Editor: printemps
Source (translation): Babbitt Information