Challenge 1: Difficulties in accessing and understanding blockchain data

Blockchain technology has brought about a new era of decentralized data management, but it has also presented some challenges that need to be addressed. These challenges include difficulties in accessing and understanding blockchain data, verifying the authenticity of data, and rewarding contributors for their work. In this article, we will discuss these challenges and propose a solution for the next generation of blockchain data products.

For most people, blockchain data is difficult to access and understand. While some blockchain analysis tools exist, accessing and understanding the data still requires specialized knowledge and skills, such as data indexing, smart contract expertise, and SQL proficiency. Even after accessing the data, understanding what the various dimensions of structured and visualized data represent and reflect requires interpretation from a business logic perspective. Additionally, with constantly updating data, it is challenging for anyone to capture and analyze all the information in real-time.