DataLight has Launched Real Usage Index That Allows to Track and Compare the Activities of Different Blockchains
Coinspeaker
DataLight has Launched Real Usage Index That Allows to Track and Compare the Activities of Different Blockchains
Blockchain is an accounting book available for everybody, and there are plenty of metrics that allow tracking data in it. Metrics like the quantity of transactions, quantity of receiving and sending addresses, available and maximum supply, average and maximum value of transaction, mining and block size information allow to have a full understanding of blockchain activity.
However, until present, there was no single metric that would allow not only to monitor network activity, but also to compare different blockchains with different principles of working with each other.
For example, if you take the two most popular coins at the moment, there are then only transfer transactions in Bitcoin, but there are smart contracts in Ethereum. And if you compare them according to the law of Metcalf, you get disparate values.
That was the reason of introducing Real Usage Index by DataLight. It is calculated as the number of active addresses (both sending and receiving) multiplied by the number of transactions.
This simple, yet comprehensive method of calculation of blockchain activity is effective in comparing different time frames and different blockchain with each other. But Real Usage Index is also a very important indicator for a fundamental analysis of crypto assets. It has demonstrated a very high long-term correlation with the market capitalization (1, 2).
Real Usage Index is available at DataLight Lab. It is an insightful analytical tool that offers users a wide variety of additional facilities to set up convenient crypto dashboards for Real Usage Index and 60 other metrics featuring graphs, widgets and diagrams which are fully customizable so that every crypto enthusiast can create a personalised source of trading insights and information.
All the data from DataLight Lab is also available through API for professional players.
Real Usage Index can be applied for Bitcoin, Ethereum, Tron, Stellar and NEO blockchains, with even more networks on the way.