Cryptocurrency trading has now reached a uniquely challenging point in its development. On the one hand, the sheer variety of currencies on the market now is staggering and difficult to keep track of, even though this is necessary for effective trading. On the other hand, a large number of novice traders are entering the market every day. To support the current level of cryptocurrency operations, to say nothing of its continued expansion, market data needs to be assembled and presented in an easy to grasp way. Yet there is more of it, and it is more fragmented and more difficult to process, than ever before.
https://svandis.io/
Existing trading data platforms struggle to keep up with the rising demand and the constantly increasing complexity of the market. Svandis is one new company that wants to step into the fray. It promises to create a market research and visualisation platform that would utilise data mining, machine learning and crowdsourcing mechanisms to let its clients stay on top of all the cryptocurrency trading information they could want.
How will the Svandis platform serve the market?
Svandis will gather data through two main methods. Firstly, any user with an account could download and run its open-source DataMining App. With user permission, this crawling app will browse and index assorted cryptocurrency-related websites, encrypt the harvested data and forward it to a central server, where it will be analysed by machine learning-assisted algorithms. Computers with faster Internet connections may be used to gather real-time data, while those with slower connections could grab historical data. Whenever data is transmitted, a smart contract will give an automatic SVN token reward to the user.
Another method will rely on the active participation of users. Any user will be able to become part of the Svandis Research Community by submitting data points about cryptocurrencies, such as news, event information or ICO details. At first, this information will be verified by the professional internal Svandis Analytics Team. Both then and later, confirmed data will be rewarded with both SVN tokens and reputation points, the latter of which will give their opinions more weight in the system, as well as providing them with various cosmetic rewards. Verified researchers will be able to validate other people's data points themselves, gradually expanding the community. On being approved more than 10 times by more than 10 different users, a user will gain the status of a Certified Reviewer. At that point, they will not only get more rewards and more attention, but they will also be able to submit more advanced and tricky data points, such as their opinions of a project's feasibility. Eventually, the best researchers will be integrated into the Svandis Analytics Team directly. In addition to verifying information, this team will also participate in data gathering and processing efforts, helping construct a comprehensive cryptocurrency database.
https://svandis.io/
Access to Svandis' database and its tools will only be available to SVN holders. A certain amount of SVN or reputation level will grant automatic access to certain features on the platform; it will also be possible to purchase access directly to those tools with SVN. Information will be presented in many different ways, with extensive filters and other customisation options. The platform will include an ICO and token sale screener, a tag-enhanced newsfeed, a personal cryptocurrency watchlist with alerts (including external notifications) matched to specific events, preset and user-made indices and an entire host of visualisation options including charts, graphs and heatmaps for tracking the value of any and all cryptocurrencies, by themselves or in groups. Svandis takes particular pride in its catalyst analysis feature, which would allow users to visualise the effect of a specific event on cryptocurrency prices. Finally, the platform will also feature a marketplace that will allow third-party businesses to integrate Svandis' tools through its APIs and widgets and also let them sell financial software to the platform's users.
What makes Svandis stand out?
Svandis' integrated approach, combining advanced data mining and analytical tools with expert and community-based human intelligence, may be a very strong contender in the battle to map the cryptocurrency market. Machine learning and incentivised crowdsourcing are both good, flexible mechanisms for dealing with such a complicated and constantly evolving field. As such, it could offer its clients a unique trading edge. The exclusive model makes this edge even more unique and seems like it should ensure a higher level of user investment in the success of its ecosystem. After all, they will be working to give themselves a great advantage. This should play well with the highly self-motivated cryptocurrency community.
The team touts this approach as an industry first, and while there certainly are other cryptocurrency market research projects that rely on similar mechanisms, none of them seem to be an exact match. Its members have a fair amount of experience with both software development and cryptocurrency trading. Unsurprisingly, they have attracted a fair amount of positive attention and partners in the cryptoindustry who should able to add extra value to Svantis' proposed fintech marketplace.
Token sale details
The ICO will run from July 15 to August 15, 2018.
An exclusive trading utility in the making
All cryptocurrency projects depend on early support from their stakeholders to achieve success. This is doubly true for Svandis, as both its machine learning and community research-based methods will need a certain level of initial activity to get off the ground and become as competitive as the team (probably rightly) believes they can be. It seems well-positioned in this regard, so far as its offered model has a lot to offer to ordinary cryptocurrency traders (perhaps more so than to institutional investors).
Its exclusivity may prove to be an initial barrier for some participants, especially if competing firms appear to offer similar advantages without the need to buy or earn tokens. In the long term, though, that same trait could be very useful for its ecosystem by making participation so much more rewarding. Much may depend on the starting quality of its internal analytics team as well, especially as the company promises to have an extensive database from the start, developed with the help of analysts and beta testers. On the whole, this is a medium-term endeavour at the least. But it is one that can count on a steadily increasing demand in the near future.
Links:
Website: https://svandis.io/
WhitePaper: https://svandis.io/whitepaper.pdf
Telegram: https://t.me/svandisio
Facebook: https://www.facebook.com/svandisio/
Twitter: https://twitter.com/svandisio
Medium: https://medium.com/svandis
ANN: https://bitcointalk.org/index.php?topic=3314886.0
Author: https://bitcointalk.org/index.php?action=profile;u=980049
Disclaimer
This review by Bonanza Kreep is all opinion and analysis, not investment advice.