BlockTrail is a new platform for bitcoin analytics launched today by Amsterdam-based researchers BlockCorp. It’s secured €500,000 ($669,310) in funding from BlockCorp, which was set up by entrepreneur Boaz Bechar and VKontakte co-founder Lev Leviev.
Competing with Blockchain.info and Blockr, the platform hopes to surface information about cryptocurrency transactions by creating dedicated tools for the analysis of network and economic data. The startup is aiming at institutional and governmental customers to pay for the data, but also developers who can use its soon-to-launch API. The team includes developers from bitcoin data company Vircu, which BlockCorp acquired.
In theory, the idea is to look at the moment of bitcoin, such as assessing whether some bitcoin addresses have been involved in mining or perhaps gambling. This is information which is largely inaccessible to those who don’t run their own bitcoin servers or similar operations.
Initially the free-to-use platform will only uses publicly accessible information.
Europe is considered a great place for cryptocurrency startups due to the lack of formal regulation.