Digital currency analysis company chain analysis is currently monitoring 10 digital currencies

Digital currency analysis company chain analysis is currently monitoring 10 digital currencies

Blockchain analysis and compliance company Chainalysis wants to provide its users with the ability to perform surveys and keep a close eye on dozens of popular digital currencies, including BTC, ETH and BNB.

On April 24th, the New York-based blockchain company published an article on its official blog announcing that it will expand the monitoring tools and scope of the KYT (Know Your Transaction) analysis tool for chain analysis reactors and chain analysis.

Chain is a well-known blockchain intelligence company that provides a variety of technologies to help organizations monitor the flow of digital currencies across multiple blockchains and track any transactions suspected of being related to terrorist financing and money laundering activities.

With the release of the new version, the chain analysis user can simply enter the name of a service into any of the analysis platforms (reactors or KYTs) and view its connection to the 10 supported digital currencies.

The Washington Post wrote: Now you can enter the name of any service in the reactor and view it in all supported digital currencies. Once added to the chart, transactions between addresses are mapped using an intuitive user interface that covers the blockchain up and down. KYT customers can monitor the total risk exposure of their organization in all supported currencies.

Supported currency

The company's notice states that the digital currency supported by the reactor includes traditional digital currency bitcoin (BTC), Ethereum (ETH), Paxos standard (PAX), Litecoin (LTC), True USD (TUSD), Binance Coin (BNB). ), as well as stablecoin Gemini Dollar (GUSD), Tether (USDT), USD Coin (USDC).

The statement also confirms that chainanalysis is working to add more types of digital currency in the coming months. To a certain extent, the company said: “We have identified thousands of real services, including top exchanges, merchant suppliers, dark networks and scams. Our team makes hundreds of new identifications every month. , thereby expanding data coverage to millions of new addresses."
Predict future needs

According to a related report from the Reuters news platform, the expansion of the company’s monitoring tools is due to expectations of global digital currency regulatory guidelines, which may require digital currency-based companies to automatically monitor them in the future. Supported digital currency trading process.

Reuters quoted Jonathan Levin, co-founder and chief operating officer of chain analyzer, as saying that mainstream adoption of all types of digital currencies will largely depend on their ability to gain global regulation. Since central authorities do not control most digital currencies, it is necessary to track transactions as they are conducted to curb any human trafficking and terrorist financing activities. The chain analyzer hopes to be ahead of this road and is expected to power global regulation. (CCN Chinese Station)