By CCN: Started as a side project in May 2013 by a lone developer in a Queens, New York apartment, CoinMarketCap celebrated its six-year anniversary last week. The website, which keeps track of the market capitalization of bitcoin and more than 2,100 altcoins, commemorated the milestone with a few announcements. The changes come on the heels of the crypto data market site coming under fire for reportedly relying on faulty data when calculating exchange trading volume.
CMC will be working to create a more rigorous and robust philosophy for what data it does and doesn’t include in its algorithms. Through a CoinMarketCap Data Accountability & Transparency Alliance, or DATA, it will “promote greater transparency, accountability, and disclosure from projects in the crypto space,” according to the announcement.
— Carylyne Chan (@carylyne) April 25, 2019
The real-time blockchain data provider is also launching a new blockchain explorer. The company is hoping to make it easier and more intuitive for newbies to explore and interact with the blockchain. With its new blockchain explorer, CoinMarketCap promises a friendlier, more down to earth interface for users to learn about the blockchain.
CoinMarketCap user-interface circa 2013. | Source: CoinMarketCap
CoinMarketCap Dogged By Scandals
A Bitwise investigation published in March found that “at least 95 percent of all bitcoin trading volume is faked on unregulated exchanges.” CoinMarketCap was caught in the middle of the scandal, with Bitwise pointing to $6 billion in daily trading volume reported by the site vs. $273 million in actual volume.
We are listening to all our users' feedback, and we are working hard to add a suite of new metrics so users can get a fuller picture of exchanges and crypto on the site. What are some new metrics you would like to see? Share with us. :) https://t.co/ZgEs80lH1S
— CoinMarketCap (@CoinMarketCap) March 26, 2019