Let’s use our imagination:
The blockchain narrative has struck the imagination of a small group of people, but is now opening up to a wider audience. We are observing numerous organizations taking action to encourage the use of this technology. and despite this there are those who have been working specifically with public blockchain protocols for some years now. Obviously, the private sector is the one with a stronger entrepreneurial vocation and a vision of the future, as was the case for the Internet in the early Nineties, with the gambling industry acting as a watershed.
Ethereum is the platform that Edgeless is using it for its business. Now we will track some of the data streams publicly present in the ledger which can be traced thanks to the explorer and we we will use the blockchain to read a piece of the history of this company, which will always be available.
Now imagine how useful it is to examine the data protected by an unchangeable registry that can be consulted publicly in a trustless mode (ie. without any need to trust other parties). We dream about how public contracts and tenders in the state sector, or the management of expenses in the government could be managed. Economic transactions are only the beginning of what will go into the chain.
An actual use scenario: Edgeless
Thanks to the APIs and the tools that allow you to control the Ethereum blockchain, you can collect a large amount of data and sort them to find signs and trends. In this specific case, our question was simple:
What is going on with Edgeless addresses?
The first figure that can be observed by analysing input and output Txs from said addresses shows a growing volume of transactions directed towards the platform, which on average are higher than the ones coming out of it. Interpreting this data can lead us to think that the players are increasing or that the loyal ones tend to deposit more than they withdraw.
The violent increase in volumes since the last month of April is completely unrelated to price trends. This signal indicates an adoption that is free from speculation aspects and that, in our opinion, strengthens the foundations of the project. From then on, taking into account the euphoria factor, a steady growth remains that is detached from the decline in searches for cryptocurrencies (google analytics). Increase comes from the direct experience by players, as well as from actual use.
As the following graph shows, we can observe a recent increase in the number of searches for the word “EDGELESS” compared to the downward trend of 2019. In contrast to prices, the platform is undergoing an interest that recognizes good marketing and system functionalities.
The amount of EDGs deposited and played monthly is growing vertically: this figure should be analyzed by also considering the decrease in the value in Euro/US dollars for the token, which is suffering the fate of an entire industry affected by the bear market.
Looking at the exploded data we remain pleasantly impressed by the steady growth of TXs\day, which remains a positive adoption index regardless of the value and amount of wagered funds.
As per our previous discussion here (https://www.edgeless.io/blog/edgeless-bankroll-staking-is-coming) we will soon see the Bankroll Staking in operation, as well as the effects of a deflating system.
The need to bring liquidity to the rising platform, combined with a likely easing of the bearish trend, will certainly bring good fortune to token.
Conclusions:
Edgeless’s monetary transactions do not depend on movements on exchanges or on merely speculative flows. They consist of the actual adoption and tangible use of a token utility that represents top quality in its segment. Edgeless is on the list of survivors after the passing of the ICO storm in 2018: gusts of wind were strong but the project has deep roots and is firmly grounded.
A small analysis like this one allows us once again to highlight how the blockchain impacts on how to arrange and verify transactions that tie human relationships in a not so distant future.
Authors:
Paolo Rebuffo, CTO @Deepit AG
Lorenzo Dalvit — Marketing & Communication Director @Deepit AG
