What is Insight Chain?
Insight Chain (INB) is a decentralized research ecosystem based within the Ethereum blockchain. It focuses on the creation of a data ecosystem of blockchain domain while working to build a Wall Street-like financial order in the blockchain industry. It is a unique project in that it integrates blockchain-related companies, media, analysts and investors with blockchain technology itself. Insight Chain is thus a decentralized platform which integrates information sharing, reviews, indices, data trading and interaction, all based on the research of analysts, to promote the advancement and adaptable development of the blockchain industry.
History of Insight Chain
The idea for Insight Chain was developed in early 2018 in China by Lisa Yang and Jason Ji, who saw the potential for a blockchain-based solution for the storage of cryptocurrency and blockchain-based analyses. Other team members include financial market and blockchain development experts. After testing the beta version of their platform in Q2 2018, it was launched to the public in mid 2018 and opened for trading in August of that year.
How Insight Chain Works
Insight Chain uses the Ethereum blockchain as the basis for its analysis data storage and security. It ties together investors, companies and analysts through the use of its token, INB. Investors use the token to access data services, companies use it for data trading services and analysts are paid in INB for the contributions they make to the platform. By mid 2019, all platform data associated with trading, research, reviews and indices will be saved on the blockchain.
Why Insight Chain?
As a blockchain-based way to store reviews and analysis of blockchain-related products and technologies, Insight Chain offers several advantages over other cryptocurrency platforms. Some of these advantages include:
Data research. Analysts can study and publish their own research on cryptocurrency companies, media sources as well as on investors. All research data is saved to the Ethereum blockchain to keep it reliable and traceable. Participants are rewarded with the INB token.
Information sharing. Insight Chain can be used to help blockchain companies build their management concepts and serves to provide a platform for them to disclose information. This helps to create a decentralized information sharing platform that can be used by companies, media, analysts and investors alike.
Review and index. Based on data research stored by Insight Chain, analysts can review cryptocurrencies and their funds from several scopes to provide guidance for their clients and investors. The platform can also offer a series of maintained indices like Insight 500 and RONI which can be sorted by rating or investment.
Data trading. Insight Chain seeks to establish a decentralized data trading platform based within the Ethereum blockchain. On its platform, analysts, investors, companies and media can trade data, ratings, indices and reports in a peer-to-peer fashion.
Interactive consultations. Through Insight Chain, analysts can give real-time recommendations on investment strategies to their clients and investors. All participants can engage in the platform’s online forum, engage in user-to-user chat sessions, as well as engage in question and answer (Q&A) sessions.