Core, a Bitcoin-powered and EVM-compatible Layer 1 blockchain, is revolutionizing Bitcoin finance with its innovative solutions. As the first blockchain to introduce a non-custodial BTC staking protocol and the world’s first yield-bearing BTC ETP, Core is at the forefront of blockchain technology. By leveraging over 50% of Bitcoin’s mining hash power, the network not only enhances its security but also deepens its alignment with Bitcoin, with over 4,700 BTC natively staked to unlock Bitcoin utility and rewards.
The Challenge: Addressing Data Analysis and Operational Inefficiencies
To foster project growth and encourage the development of a thriving ecosystem for Core, the network participants and contributors needed to make data-driven decisions. However, several critical challenges emerged:Critical Gap in Data Analysis and Support
The surge in Bitcoin scaling solutions since H2 2023 has highlighted a significant need for professional data support within the Bitcoin ecosystem.
Inefficient Data Management Methods
Core bridge enables multi-chain, multi-asset transfers, but the default approach to data summarization and analysis—manual recording in Excel—is cumbersome and inefficient. The sheer volume of data, including over a million Core bridge users, often exceeds Excel’s capabilities.
Resource-Intensive In-House Solutions
To sustain ecosystem growth, detailed data analysis and data-driven decision-making are crucial. Establishing an in-house team for these tasks would demand substantial resources, including approximately ten full-time employees covering roles such as developers, data engineers, and analysts.
Core Chooses Footprint Analytics for Multi-chain Data Support and Analytics Expertise
Footprint Analytics supports multi-chain data analysis that perfectly aligns with Core’s open-sourced values. Footprint Analytics offers state-of-the-art, publicly-available blockchain data solutions, providing seamless access to a unified data lake that transcends chains, protocols, and domains. With extensive experience in indexing over 30 blockchains, including non-EVM chains, their platform features advanced BI tools and multiple API output options to meet the diverse data needs of various network participants, contributors and scenarios at Core.Additionally, Footprint Analytics was among the first to support data analysis for the Bitcoin ecosystem. Their clientele includes Merlin Chain and Rootstock, with more chains continuously joining their platform.
The Solutions and Measurable Results
Footprint Analytics provided efficient and comprehensive solutions to address the Core blockchain’s data challenges.
Rapid Integration
Footprint Analytics completed the integration process, from requirement gathering to testing, within a month.
Comprehensive Data Management
Footprint Analytics delivered visual analysis dashboards and data APIs, addressing urgent data issues and enhancing the transparency of the Core ecosystem. For example, the Core community now has access to a real-time updated dashboard that allows them to analyze detailed multi-chain bridged data, including metrics such as bridgers, bridged balance, bridged transactions, and bridged inflows and outflows.
Expert Analyst Support
Footprint Analytics provided the Core community with the necessary support to master efficient data analysis skills. Now, if there’s a sudden change in the bridged data trend, analysts within the Core community can swiftly identify potential issues, perform drill-down analytics step by step, and pinpoint the exact chain, token, address, and transaction involved. This capability enables participants and contributors at Core to make informed decisions quickly and effectively.
Enhanced Operational Efficiencies
The collaboration resulted in significant operational efficiencies for Core participants and contributors. For example, retrieving on-chain data for over one million users on Core can now be accomplished within minutes.
Conclusion
The collaboration between the Core blockchain and Footprint Analytics has been instrumental in enhancing operational efficiency and transparency. By streamlining data processes and providing vital insights, Footprint Analytics has enabled Core’s ecosystem participants to focus on strategic growth and innovation. This partnership has not only reduced the need for extensive internal resources but has also fostered a data-driven culture within the Core community, empowering participants and contributors to make informed decisions and drive the Bitcoin ecosystem forward.
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About Footprint Analytics
Footprint Analytics is a comprehensive blockchain data analytics platform that simplifies complex analysis for businesses and projects in the Web3 ecosystem. It offers tailored solutions that eliminate the need for extensive expertise and infrastructure maintenance. The platform provides long-term growth tools designed to help build and manage communities step by step, emphasizing sustainable growth and user loyalty. By combining powerful analytics with community management tools, Footprint Analytics enables projects to leverage blockchain data effectively for decision-making and growth strategies across various sectors including GameFi, NFT, and DeFi.
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