If you’ve been reading anything about cryptocurrencies, you’ve seen an analytics company, Flipside Crypto, referenced a number of times.
If you’re wanting to review an analysis company, you want to look at some numbers, right? Flipside crypto has been backlinked in blogs over 98,000 times with a domain rating of 59 according to Ahrefs. Impressive stats for a company founded in 2017, giving some sense of group acceptance of the tool.
But having a stat about how many times reference data by Flipside Crypto isn’t the whole picture. We’re going to dive into what the company does, how well they do it, and what you can do with it.
Are you ready for this Flipside Crypto review? Keep reading to find out!
What Is Flipside Crypto?
Flipside is a data analytics company headquartered in the United States. They offer stock market data, in-market audience data, cryptocurrency data, digital asset data, and currency data.
Founded in 2017 by Jim Myers, Dave Balter, and Eric Stone, they previously worked together on a company called “Smarterer.” This product was a skill assessment platform that used machine learning. It was purchased and acquired in 2014 by education company Pluralsight.
Moving into cryptocurrencies using machine learning and AI for crunching big data seemed a natural choice at the time. Backed by Coinbase Ventures, True Ventures, and the Digital Currency Group, they set out to create an exciting method of standardizing data science tools for cryptocurrency.
The result was their “Chainwalking” system and implementation of an FCAS valuation scale of project health.
Why Is Chainwalking a Big Deal?
Cryptocurrencies may or may not run on the same blockchain. For example, the EVAI token is an ERC20 smart contract, as many token-based cryptocurrencies are. They run on the Ethereum blockchain, while Bitcoin runs on its own blockchain — a totally separate ecosystem.
There is also the EOS and Tron networks. They run their own blockchain and currency but started out on the Ethereum blockchain as ERC20 tokens.
These systems have different schemes for using and storing data which makes them difficult to “read” for AI or people. Chainwalking has changed that by crawling from the base blocks to the highest block. Thus “walking” along the chain.
Since there are always blocks being added, the job is never truly done.
The next step is parsing the data into a standard, readable, universal data model. Once the UDM (Universal data model) has been mapped and transformed, they analyze the data using clustering and behavioral matching and identify major token holders.
Basically, they help answer:
- Who holds tokens?
- How many tokens do they hold?
- Who are the users, and do they come back?
All are very important questions.
So far, their Chainwalking method is implemented on over 40 projects (65 by the last count) and over 500 tokens in an effort to understand user behavior and drive growth.
For who? Flipside Crypto gives analytics on only a small number of blockchains and tokens upfront, such as ETH, BTC, Algorand, OAN, USDC, and a few more. They offer to work with your crypto project hands-on, and give tools for doing chainwalking of your own.
They help with:
- Producing an initial schema document
- Communication network
- Github integration
- Expectation management
Next they help build a Chainwalker by defining the schema, building the parser, and “dockerizing” their environment. Syncing with the blockchain comes next, and then analytics on the blockchain, behavioral models, and translation.
An FCAS score is applied, as well as a personalized analytics dashboard.
What is FCAS — Fundamental Cryptocurrency Asset Score
FCAS analytics help their customers to granulate their score’s components including user activity, developer behavior, and market maturity. They also get a FCAS rating of their own, which is a project health indicator.
This indicator, as of August 12, 2019, was made available to all CoinMarketCap API registered users. While this FCAS score has appeared on asset pages since March 2019, it’s now included on over 500 crypto assets through CoinMarketCap’s 1.16 API version, including the basic tier of personal use.
FCAS itself is a 0-1000 score with letter grading for different tiers.
- S Superb — 900-1000
- A Attractive — 750-899
- B Basic — 650-749
- C Caution — 500-649
- F Fragile— under 500
The score is made of the three most important factors: User activity, market maturity, and developer behavior. This indicates growth potential, they say.
Flipside Crypto Paid Custom Insights
For a fee, you can get in-focus insights and competitive analysis from Flipside Crypto, to explore competitor’s trends and have consultations, monthly reports, quarterly calls, and a dedicated team.
It’s a data science team on loan, which could help a smaller or solitary developer in determining the direction of their project.
What makes Flipside Crypto different than a simple block explorer and querying service is its behavior modeling. While many analytics just look at data, they want to improve the value of their client’s networks based on user behavior.
Flipside Crypto Analysis In A Nutshell
Flipside Crypto is a great tool for crypto bloggers and analysts to get quick insights on individual blockchains and tokens. Good as it is, it isn’t a true “credit rating” tool.