Jun 12, 2019

Flipside Crypto and Algorand: Enabling Analytics for DApps

By: Algorand

Algorand - flipside use case

Industry Segment: Business Intelligence

The Company

Flipside Crypto is a market intelligence firm providing fundamental data on all major cryptocurrencies. Based in Boston, the company produces and distributes FCAS—a single, consistently comparable value for measuring cryptocurrency project health. FCAS is developed through a proprietary combination of factors representing customer activity and developer behavior for cryptocurrency projects.

The Challenge

Decentralized applications (DApps) are considered one of the largest potential uses of blockchain technology, as they open a new world of consumer- and business-focused products that utilize smart contracts to create new functionality never seen before. Today, there are over 1,500 live DApps across gaming, gambling, finance, social, and many more categories—with an increasing number launching every day. But little intelligence exists to support these DApps. Developers lack insight into what’s going in and out of their DApps, which makes it difficult for them to measure success and make enhancements.

The Solution

To solve this challenge for DApp developers on Algorand, Flipside Crypto is providing a free analytics suite that offers visibility into how users are interacting with their DApps. The toolset allows them to annotate their DApp addresses; monitor the live number of active addresses, incoming transactions, and outgoing transactions; compare their DApp’s activity to other DApps on Algorand’s platform; and more. These metrics are vital for developers to be able to monitor and react to different streams of data.

Algorand is the first blockchain that will provide Flipside Crypto’s DApp analytics toolset. The team chose Algorand partly because of their developer-first approach.

“We’ve talked to a lot of blockchain companies and we’re impressed by the Algorand approach, which began with first asking, ‘How can we help our developers?’ It’s a refreshing perspective that very few blockchains had in their early days of building their platforms.” - Dave Balter, CEO, Flipside Crypto

According to Balter, most blockchains have prioritized their technical infrastructure first, and then determine how easy it will be to build on. “Now they’re all trying to catch up—realizing that a strong technical solution must be accompanied by simple developer tools,” said Balter. “Algorand is already ahead with the best of both worlds—groundbreaking technology combined with the best developer experience of any platform.”  

The Benefits

Flipside Crypto’s suite meets a previously unmet need for hundreds of DApp developers. Without these prebuilt analytics, teams often have to build their own internal dashboards—costing them time and money that would otherwise be spent on making improvements to the code.

With Flipside Crypto, Algorand developers will access clear, compelling data to help them drive adoption and direction. Making data more accessible, the analytics allow them to understand how to evolve and grow their DApps with Algorand.

Moving forward, Flipside Crypto plans to expand their offerings to include deeper analytics for Algorand developers, including a tool to provide further analysis on the data in the Algorand note field to make sense of the unstructured data.  

If you're a DApp building on Algorand, you can request the free analytics suite from Flipside Crypto by emailing [email protected].