How to Find Information About Blockchain Projects

With the amount of data that is made available daily, it can be quite daunting to identify and collect the right information surrounding blockchain projects. Blockchain can greatly add value to any platform – it also offers benefits such as speeding up transactions, greater transparency when recording transactions, and better traceability for identifying products.

Questions often asked when carrying out blockchain research are: how accurate is the information around blockchain projects? Where can you find the right information about a certain project when learning about how to invest in blockchain? Some choose to go it alone when searching for information, whilst others reach out or leave the heavy lifting and research to us over at D-CORE. D-CORE’s research uses Scientific Methodology approved by UCL for research projects.

Know where the data comes from

One important factor to consider is where the data comes from and if the information has been entered correctly. The blockchain can only work with what it has been given, and we can’t rule out human error. Data reliability is key and must be respected from the very beginning. This ensures that those wishing to invest in a project have all the correct insights so that they can make an informed decision.  

In order to guarantee data integrity in a blockchain and supply chain solution, the accuracy and reliability of data must be preserved from the point of creation to the point of usage on the blockchain.

Maintaining 100% accuracy is an ongoing struggle when it comes to the cryptocurrency market. When there is a lack of clear data, it leaves investors or potential investors in the dark.

Look behind the curtain

It’s always a good idea to visit the project’s site – even if reviews have been positive. Get a feel for the site – it should at least be well maintained and have all the relevant information at hand. Learn more about the project – what its vision is, and the team behind it.

This is where all key information is stored. Take the time to examine the team involved from developers to the CEO. Ask are they experienced in the market; there should be an employment history. If you have names, you can also go online and check their online presence. These will help determine if the project is genuine.

Is the project on social media?

Read about the project on Reddit. This is one of the best sites to understand projects; it has no direct sponsors or backing from other ventures – so, there is no influence within the discussion groups. Reddit is very helpful for finding relevant information about a project. It’s also useful for collecting information about projects with potential.

Follow up with tracking the social media presence of the project. Does the project have a Twitter account? Check its most recent tweets to see what the project is focusing on. Is it being followed and by who? What is being reported about the project?

Does the project appear on groups such as Discord? This will give you a good measure of what is happening and how people are interacting with the project.

Do your homework

When it comes to decentralized finance and trying to get an overall view of a particular platform, it is wise to acquaint yourself with the necessary tools or Blockchain explorers that can provide the necessary tools that can give valuable insights into public blockchains – these will provide information from the particular blockchain that you are researching.

The information and data found on public blockchains are indisputable and completely accurate. They are always a decent place to begin any research.

Check the projects rankings

Always check out the project’s ranking. This gives you a good idea of where the project stands compared to others – bearing in mind that there are a lot of competitors out there trading. Ideally, you should be looking at the projects that are found in the top 100 – this limits exposure to risk. However, it’s okay to explore those outside the top rankings – identify those with the greatest potential.

Who else is investing?

Investigate who is investing in the project. If the project is attracting large investors, this is generally considered a healthy sign. With this level of investment, there is sure to be due diligence in place making any investment an attractive prospect to future investors.

Find the white paper

Every crypto project must have a white paper. This gives those interested in getting involved the information about how the project will work – this will be on a technical level, the main aim of the project, and the roadmap.

It will give potential investors a deeper understanding of how the project will work. The white paper will give an idea of how accurate the project should be – if the info in the white paper doesn’t match up then something is amiss with the research.

If the project does not have a white paper, then it is best to avoid the project. Even if there is a white paper, and it has been poorly prepared, don’t get involved. This means if there are basic mistakes such as spelling and grammar this is considered bad practice.

Learn and grow

While their aim is to get in and find the next big thing when it comes to blockchain projects, it is wise to take a step back and consider the points discussed above weighing up the accuracy of a project. Intensive research is a must – be willing to dig deep to unearth the hidden treasures of the cryptocurrency markets.

However, this requires a certain level of experience and skill. But once this is acquired, it can help a potential investor to identify new projects and assess the accuracy and reliability of the data presented.

The points above act as a solid foundation for those who want to venture into the world of cryptocurrency. Yet, as confidence grows and experience kicks in, these can be adapted and expanded upon to help make the right investments over time.