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Blockchain Data Revolution: Taming The Beast Of Fragmented Global Exchanges

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Blockchain experts recently delved into the complexities and opportunities of harnessing blockchain data in today’s market and discussed the challenges of handling fragmented blockchain data across numerous global exchanges last week at the Benzinga Future of Digital Assets.

In the panel discussion, “Harnessing Blockchain Data and Market Insights for Informed Decision-Making in Digital Assets,” were Shawn Douglass, CEO of Amberdata, and Matt Kunke, research analyst at GSR, who also addressed the challenges of aggregating granular order book level data from various markets and the intricate process of analyzing on-chain data.

“We connect into every major spot market, derivatives market, options venue, and collect real-time, super granular order book level trade level data,” Douglass said, highlighting the depth and breadth of Amberdata’s capabilities.

Kunke from GSR, a crypto liquidity provider and market maker, shared insights into the fragmented nature of blockchain data and the significance of maintaining API connections across numerous exchanges.

“You have this fragmentation problem that really doesn’t exist elsewhere… There’s a lot of data to digest and aggregate,” Kunke noted, emphasizing the challenges faced by market makers in the crypto space.

Douglass further elaborated on the technical complexities of accessing and processing blockchain data, contrasting it with traditional finance data aggregation.

He described blockchain as “a decentralized database, an application server, a tokenized incentivized currency that has data as an input and output that drives outcomes.”

This complexity, according to Douglass, necessitated deep subject matter expertise and significant technical resources.

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The discussion also touched upon the critical role of integrity and credibility in the blockchain data space.

Kunke pointed out the importance of finding reliable data providers, especially given the lack of trust in certain trading entities.

“It’s pretty important to find a provider that is actually looking at it with a credible eye,” Kunke stressed, underlining the need for diligent data verification in the crypto industry.

As for the future of blockchain data, both panelists agreed on the…

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