bitsCrunch is an AI-powered, decentralized blockchain data platform that allows developers to efficiently build reliable decentralized applications (dApps). ^[1]

Overview

The bitsCrunch network offers a decentralized, AI-enhanced platform for blockchain analytics, providing detailed forensic data on NFTs, wallets, and digital assets across multiple blockchains. Accessible via a single API simplifies multi-chain integration, making it ideal for developers. The network is community-driven, encouraging contributions that continually enhance its capabilities. It ensures scalability through decentralization and predictable query costs with stablecoin payments, enabling precise budget management. ^[2]

Network Roles

Operator

In the bitsCrunch network, operators function as node operators, initially handling query processing services and planning to include data enrichment tasks. They are compensated through query fees and network rewards, distributed proportionally based on the volume of queries each operator processes. ^[3]

Delegator

Delegators are participants in the bitsCrunch network who stake BCUT tokens to one or more Operators. They contribute to network security without operating a Node themselves. In exchange for their delegation, delegators earn a share of the Operator's query fees and rewards. ^[4]

Contributor

Contributors in the bitsCrunch network stake BCUT tokens to participate in various tasks, ranging from content enrichment and annotation to more advanced contributions like providing code, AI models, or tools. ^[5]

Query

Users can access data on the network by connecting a crypto wallet and creating an account. Credentials are obtained by staking stablecoins in a billing smart contract, with tokens deducted based on usage. Stablecoins help maintain a stable service price for budgeting. Upon login, users receive a default billing account with a trial for testing. They can manage multiple integrations or resell services through different billing accounts. Activity is recorded to IPFS-backed storage, and data hashes are stored on the blockchain to ensure integrity. The billing contract retrieves data from IPFS and deducts user deposits accordingly. ^[6]

UnleashNFTS

UnleashNFTs is an AI-driven analytics and forensic platform for NFTs, providing detailed insights into NFT collections, marketplaces, and the broader market. It offers analysis and statistics on key indicators like market capitalization and trading volume, helping users make informed decisions on NFT transactions. The platform also tracks and reports on wash trading—a practice where traders artificially inflate demand by repeatedly buying and selling an asset. While regulations on NFT wash trading remain unclear, UnleashNFTs differentiates between genuine and fake trading volumes. ^[7]

UnleashNFTs enables users to explore top NFT collections by volume, market cap, sales, or traders over various timeframes (24 hours, seven days, 30 days, or 90 days). The platform features clear infographics that provide concrete analytics designed by data scientists and UX designers to enhance data processing. It also offers in-depth market reports covering trends in wash trading, trading activity, NFT marketplaces, and top collections. The platform’s wash trading feed tracks current levels, assets, and wallets, providing technical and fundamental insights. This helps users make informed NFT purchase decisions by simplifying complex data. ^[7]

Wash Trading

Wash trading involves traders creating artificial demand for security by repeatedly buying and selling it, inflating its price and volume. This fraudulent practice distorts NFT projects' true value and trading volume in the NFT market, undermining the reliability of marketplace metrics used to assess growth and reach. bitsCrunch has categorized the different types of wash trading into the following: ^[8][9]

• Pattern A: This is the most common type, where an asset is repeatedly traded back and forth between the same set of wallets. Sometimes, multiple wallets are involved in a coordinated effort to conduct wash trading.
• Pattern B: In this pattern, a combination of wallets trades different assets from different collections within a single marketplace, primarily to collect rewards.
• Pattern C: This pattern involves certain wallets following a consistent trading pattern, with sales occurring weekly or daily.

bitsCrunch’s wash trade index measures the level of wash trading within a specific blockchain, marketplace, or NFT collection. The index is calculated by comparing the percentage of wash-traded volume to non-wash-traded volume, providing a clearer understanding of overall trading activity. The index ranges from 1 (lowest wash trade activity) to 100 (highest wash trade activity). This index is intended to be a reliable metric in the NFT ecosystem, offering key insights into NFT trading and flipping. ^[8][9]

BCUT

BCUT is the native utility token of the bitsCrunch Network, designed to facilitate network operations and maintain security. It serves key functions, including aligning incentives among participants who stake tokens promoting collaboration and commitment. Staking also enhances network security by making malicious actions costly. The token supports the network's independence by reducing reliance on external cryptocurrencies and enables a tailored economic framework through governance decisions. BCUT also offers token holders discounts on query pricing by staking within the network. ^[10]

Tokenomics

BCUT has a total supply of 1B and has the following allocation: ^[11]

• Treasury: 24%
• Backers: 23%
• Team & Advisors: 17%
• Community Incentive: 17%
• Growth & Reserve: 13%
• CoinList Sale: 6%

Partnerships

• Chainlink
• Polygon
• CoinTelegraph
• EY
• PWC
• Unstoppable Domains
• DappRadar
• PawnFi
• Mastercard
• Now Nodes
• Forward Protocol
• Pandora
• CorPa
• Coinvise
• DappLooker
• Levitate Labs
• NFTFN
• Octavia
• Orange
• BlockPI
• SINSO
• WizBuds
• Cros
• ArchiDAO
• xHashtag
• GenShards

Funding

Since September 6th, 2021, bitsCrunch has raised money through the following rounds: ^[12][13]

• $753K in a seed round from Genblock Capital, LedgerPrime, MEXC, Double Peak, Covalent, and Synaps
• $3.6M in a Series A round from Animoca Brands, Coinbase, Shima Capital, Polygon Studios, Mapleblock Capital, Crypto.com Capital, Morningstar Ventures, Borderless Capital, DWeb3 Capital, Infinity Labs, Ahmed Al-Balaghi, Tykhe Block Ventures, Synaps, GravityX Capital, Bison Fund, GameSwift on February 24th, 2022
• An undisclosed amount in a Series A round from CoinSwitch on June 3rd, 2023
• $2.4M in a Series A round from Cypher Capital on January 30th, 2024
• $3.33M in an ICO round on February 20th, 2024