Technological innovation

Nansen’s technological innovation on its in-depth analysis capabilities of over 120 million wallet addresses. Its core strength lies in its ability to comprehensively analyze token holdings and smart contract activity to provide users with a comprehensive view of the market. However, behind this technical prowess lies an over-reliance on tagged addresses, which can lead to blind spots for emerging or untagged addresses.

Dune Analytics demonstrates its excellent SQL capabilities in data processing. This capability not only puts it at the forefront of data analysis, but also provides the developer community with powerful customization tools that are extremely rare in the market. We are very optimistic about this model.

LookOnChain’s innovation lies in its ability to directly track the trading dynamics of large investors (whale wallets). This is crucial to quickly capture market trends, especially in the extremely volatile cryptocurrency market.

Market adaptability

Nansen demonstrates its understanding of blockchain by supporting multi-chain data analysis Broad adaptability of ecosystems. However, this breadth can lead to a fragmented focus that prevents in-depth analysis of specific chains or market segments. We did find this shortcoming of Nansen when using it. It cannot follow up on hot sectors or narrative currency data analysis in a timely manner.

Dune Analytics has quickly adapted to market changes through its open community culture and easy-to-use interface design. This flexibility makes it the first choice for those looking for quick responses and deep insights.

LookOnChain leverages the popularity of the Twitter platform to quickly adapt to market dynamics driven by social media. But this also brings the risk of over-reliance on a single platform.

User experience

The label system and early warning system provided by Nansen bring a high level of convenience to users Personalized experience, but for beginners, the complex user panel still means a high learning curve.

Dune Analytics received high marks for user experience with its simple SQL interface and rich community content. Its user-friendliness not only appeals to technical users but also provides users from non-technical backgrounds with an easy-to-understand view of the data. It's a win-win situation.

LookOnChain provides a great experience for non-technical users with its intuitive information presentation and simple user interaction. However, the depth and breadth of its information may sometimes be insufficient to meet the needs of more advanced users.

Business Model and Profitability

Nansen’s multi-level subscription service reflects its commitment to different Deep understanding of market user groups. This differentiation strategy not only enhances its market coverage, but also brings it a stable revenue stream.

Dune Analytics demonstrates its flexible business model by offering both free services and premium subscription options. This strategy not only ensures the activity of the community, but also brings profit potential to it.

LookOnChain makes full use of its huge Twitter fan base as a supplement to its profit sources, demonstrating its innovation in business models. However, the sustainability and stability of this model need to be further verified.

On-chain Data Service Evaluation Framework (ODTEF)

On-chain data analysis tool for Web3 We have further optimized the traditional multi-dimensional business evaluation model to make it more targeted. We will name this optimized model "Onchain Data Tools Analysis Evaluation (ODTEF)", which pays more attention to the characteristics of blockchain technology and the uniqueness of data tools in the Web3 environment. The main evaluation dimensions include the following aspects:

1. Decentralization ability:

Evaluate the degree of decentralization of the tool in the data management and analysis process, including the distributed nature of data storage, processing and access.

1. Real-time data tracking and transparency:

Can analysis tools provide real-time on-chain data monitoring and performance in data transparency and traceability?

1. Smart contract analysis and interaction capabilities:

Examine the tool's ability to analyze smart contracts, as well as the degree of interaction and integration with on-chain resources (such as DeFi, NFT).

1. Web3 data security and anonymity:

Focus on the protection of user privacy when tools process data on the chain, as well as data security in the Web3 environment.

1. Economic models and token economics:

Evaluate whether the tool’s business model incorporates token economics and how it leverages cryptocurrencies and token incentives to drive the ecosystem.

Nansen: a model of on-chain intelligence and in-depth analysis

1. Decentralization capabilities:

Nansen excels in data integration and analysis, but Its reliance on centralized data warehouses weakens its decentralization potential in a Web3 environment. In the future, Nansen needs to explore more decentralized storage and analysis solutions to strengthen its leading position in decentralized data processing.

1. Real-time data tracking and transparency:

Nansen excels in real-time on-chain data monitoring, especially in monitoring token liquidity and large transactions. However, in terms of data transparency, users’ understanding of data sources and analysis logic still needs to be further strengthened.

1. Smart contract analysis capabilities:

< p style="text-align: left;">The smart contract analysis functions provided by Nansen are relatively comprehensive, especially in analyzing DeFi projects and NFT markets. In the future, Nansen needs to continue to strengthen its in-depth integration with smart contracts to provide richer interactive analysis.

1. Web3 data security and anonymity:

Nansen has demonstrated high standards in terms of data security and privacy protection. However, with the development of the Web3 environment, Nansen needs to further strengthen its data processing and storage mechanism to better protect user privacy.

1. Economic model and token economics:

Nansen’s business model is primarily based on subscription services and has not yet extensively integrated token economics. Facing the future, Nansen may consider introducing a tokenized incentive mechanism to enhance user participation and ecosystem activity.

Dune Analytics: The cutting edge of community-driven and custom analytics

1. Decentralization capabilities:

Dune Analytics’ performance in providing decentralized data analysis It stands out, especially its community-driven data sharing and analysis model. However, there is still room for improvement in the degree of decentralization of data storage and processing.

1. Real-time data tracking and transparency:

Dune Analytics provides highly transparent data analysis and visualization, especially in community-created dashboards. This transparency and real-time nature brings deep market insights to users.

1. Smart contract analysis capabilities:

< p style="text-align: left;">Dune Analytics provides a high degree of flexibility and customization for smart contract analysis, but its depth and accuracy still need to be improved in some complex scenarios.

1. Web3 data security and anonymity:

With the increasing importance of Web3 data security and privacy protection, Dune Analytics needs to continue to strengthen its measures in this area to protect user data and privacy.

1. Economic model and token economics:

Dune Analytics’ business model excels in flexibility, but is still in its infancy when it comes to integrating token economics. In the future, Dune can explore how to integrate token economics into its business model.

LookOnChain: the leader in real-time monitoring and market insights

1. Decentralization capabilities:

LookOnChain is a data analysis platform based on social media. There is still room for improvement in data decentralization, especially in the decentralization of data storage and processing.

1. Real-time data tracking and transparency:

LookOnChain has demonstrated its unique advantages in tracking whale accounts and large transactions in real time, providing instant and transparent insights into the market.

1. Smart contract analysis capabilities:

< p style="text-align: left;">LookOnChain is relatively limited in in-depth analysis of smart contracts, and its ability to analyze complex smart contract interactions needs to be strengthened in the future.

1. Web3 data security and anonymity:

In the Web3 environment, LookOnChain needs to further strengthen data security and user privacy protection, especially in handling sensitive transaction data.

1. Economic model and token economics:

LookOnChain’s business model is relatively simple and mainly relies on cooperation between paying users and the platform. In the future, we can explore integrating token economics into its development strategy to enhance user participation and ecological activity.

How to improve the presence of on-chain data analysis

Based on the above analysis, Nansen , Dune Analytics and LookOnChain each have demonstrated unique advantages and potential in the field of Web3 on-chain data analysis. They all have varying degrees of performance in decentralization capabilities, real-time data tracking, smart contract analysis, Web3 data security, and business models. We expect Nansen to solidify and even expand its leadership position in the market by expanding supported chains and enhancing analytical capabilities. Dune Analytics may continue to maintain its leading position in the field of Web3 data analysis by enhancing the community and improving tool capabilities. LookOnChain will improve its competitiveness in the market by cooperating with more platforms and data providers and enhancing its data analysis services.

Nansen: Integrating decentralized data storage and analysis

1. Developing decentralized data warehouses:

Nansen should explore the use of blockchain technology to Store and process data to increase data decentralization. For example, we cooperate with hardware projects or even the currently popular DePin projects to enhance the security and non-tamperability of data on the one hand, and to further expand the high-end user market such as institutions on the other.

1. Real-time analysis of on-chain data:

In order to provide more real-time market analysis, Nansen can develop smart contracts to monitor and analyze on-chain events in real time, such as large transactions and token liquidity changes. This will allow Nansen to provide instant market updates and trading opportunities.

1. Deepening the analysis of smart contracts and DeFi:

Nansen should further deepen its smart contract analysis capabilities, especially in the DeFi ecosystem. For example, providing more in-depth risk assessment and return analysis for DeFi projects to help investors make more informed decisions.

Dune Analytics: Expanding community-driven model

1. Community incentive mechanism:

Dune Analytics can introduce a token incentive mechanism to encourage community members to create and share High-quality data analysis dashboards. This not only increases user engagement, but also enriches the platform’s data resources.

1. Improve decentralized data processing:

Dune Analytics should explore decentralized data processing solutions, such as using decentralized computing resources to run complex data analysis. This will increase transparency and security of data processing. Dune has a very rich data source, which is their biggest capital for future integration with AI business.

1. Enhance smart contract integration:

< p style="text-align: left;">Dune Analytics can further enhance integration with smart contracts, allowing users to interact with smart contracts directly from the dashboard, such as executing transactions and participating in DeFi protocols. Dune can even further explore becoming one of the preferred blockchain development platforms for Web3 developers. This will ensure that hot projects and potential narratives are born directly on Dune, rather than just interesting charts.

LookOnChain: Improving the depth of data analysis

1. Enhance smart contract analysis capabilities:

LookOnChain should enhance the analysis capabilities of smart contracts, especially for those Complex DeFi protocols and NFT projects. This can help users gain a deeper understanding of the inner workings and risks of these projects.

1. Extended data sources and collaboration:

LookOnChain can expand its data sources by partnering with more blockchain projects and data providers. This not only provides a more comprehensive view of the market, but also increases user trust in the accuracy of the data.

Redefining the future of Web3 data analysis tools

1. Beyond the traditional model and moving towards True decentralization:

Traditional data analysis relies on centralized data storage and processing, but in the Web3 field, this model needs to be reshaped. Tools such as Nansen, Dune Analytics, and LookOnChain should explore data storage and analysis methods based on blockchain technology, such as ensuring data transparency and non-tamperability through distributed ledgers, or utilizing decentralized computing resources for data processing. This is not only a technological innovation, but also a fundamental change in data processing philosophy.

2. Real-time data analysis: from reaction to prediction:

Web3 data analysis tools The future lies in real-time and predictability. Tools should shift from simple data monitoring to intelligent systems capable of predicting market trends and identifying patterns. For example, through the use of machine learning and artificial intelligence technology, real-time analysis and prediction of market dynamics can be achieved.

3. Deep integration and interaction of smart contracts:

Web3 data analysis tools should be updated Deeply integrate smart contract technology. This means not just analyzing smart contract data, but enabling tools to interact directly with smart contracts, providing richer functionality such as automated trading, risk assessment, and strategy execution.

4. Data security and privacy: building a new framework for trust:

In the Web3 era , data security and privacy protection will become core competitiveness. By employing advanced technologies such as zero-knowledge proofs, data analysis tools can perform in-depth analysis without leaking sensitive user information, thereby building a more secure and trustworthy ecosystem.

5. Innovation in token economics:

Web3 data analysis tools should explore the use of Token economics are baked into its business model and functionality. This is not limited to incentive mechanisms, but also includes using tokens as a medium of exchange, proof of stake, and governance tool to create a self-appreciating and sustainable ecosystem.

6. Future-oriented agility:

Finally, Web3 data analysis tools must have Agility and adaptability to respond to rapidly changing technology and market environments. This means continuous iteration, rapid integration of emerging technologies, and continuous optimization of user experience. Whoever iterates functions faster and optimizes products faster will be more likely to win.

The future development direction of Web3 data analysis tools is not only technological progress, but also fundamental innovation in the nature of data analysis and business models. Providers of data are expected to become predictors of market dynamics, assistants for user decision-making, and active participants in the blockchain ecosystem, thus having a higher sense of presence.

The future development of these tools will be affected by many factors such as their technological innovation, market adaptability, user experience, business model and future development potential. As blockchain technology continues to advance and market demands change, these tools need to be continuously adjusted and optimized to maintain their competitiveness in the market.