It has been quite the year. Our last update was October 2023. In that update we covered a number of key features;
At the end of 2024 we are adding our update on the new version of Crypto Statto.
The quick update is that most functionality is now active within the platform.
At the heart of Crypto Statto is the concept to provide analytics on changes across a number of cryptocurrencies. Our platform's objective is to allow website users to view multiple crypto accounts on screen to have a feel for how they differ from other cryptocurrencies. This is in line with team members behind the platform vision in how they seek to use changes in the market to make decisions when trading cryptocurrencies. We have significant numbers of reports and data that is available through our API.
Currently, new users can register on our platform for free to receive free tokens and get a feel for the platform.
The vision is to add more reports, improve the data quality, and improve the performance of the platform to serve more users. Members will purchase credits using cryptocurrency including potentially stable coins which will then be consumed as they use see reports on the platform.
The vast majority of the work undertaken on the platform has been about adding resilience, improving the range of information provided by the platform. Many of these changes are not necessarily visible in the platform but they majorly help us to manage the platform for the benefits of our user base.
One of the challenges with the performance with Crypto Statto was our entity reports API endpoint. The way in which Crypto Statto processed reports to add metadata to help with dynamic querying all report data. The main ways in which reports use these datasets does not really need this enhanced functionality. By adding the new simple reports endpoints, reports are leaner and quicker.
We are in the process of moving reports away from the entity reports architecture towards the simple reports architecture. As a user, you will not notice this that much but developers will need to handle the calls slightly differently.
One of our developers wanted to have a streaming API - which would poll for new data. We now have a mechanism within our platform which handles these requests as middleware to reduce the number of calls to external APIs. This make certain external data more immediate two provides closer to real time reporting without over requesting external APIs, thereby preventing blockages from external cryptocurrency data providers.
Developers will be able to use this immediate API also, although if they were hosting their own applications it would make sense for them just to go to the external API.
Still work in progress, we have slowly been adding encrypted services within back end architecture to reduce storing of passwords and keys. Naturally Crypto Statto is a secure platform but we wish to make this a securer affair.
Significant additional logic and reports have been added to the back end data architecture to increase the scope both capabilities for provide the useful, meaningful reports.
A raft of improvements to the data processing architecture that collects cryptocurrency data from external sources, transforming it into data for delivering to our cryptocurrency repository has been undertaken. This includes adding enhanced automation to the process.
Once the platform moves from proof of concept to reasonable traction, we will be moving our data engines to dedicated kit. This will ensure continued uptime of the data engines.
The RTD Has been in our platform for quite a while. There were many issues with the previous all RTD version, including;
The improvements to the RTD are far too numerous to cover here but we are pleased with its progress and think that with the inclusion of more intuitive reports it will be fantastic for our users.
We have now added numerous test suites to verify most functionality users and API users perform when interacting with Crypto Statto. This allows us to add assurance on the platform by testing any changes before undertaking new releases.
Tests currently developed include;
Further improvements have been added;
When developing data platforms it is vital to get feedback on changes as soon as we can. We had already developed our own software to automate building on deployment of our platform swimming the use of what is known as habits. We have now integrated this into our test automation to allow for us to test different scenarios locally.
The key for us is to focus on enhancing experience for our users first and foremost. There are critical enhancements needed, but the platform is in a very good state right now. We do not envisage this set of changes taking as long as the last programme of work took.
We are piloting a separate data service to provide middleware access to the same data we see now. This will reduce the burden on the website and allow more users to interact with our platform.
There are many, many improvements we want to give to our audience. Some of them include;
We have been running Machine Learning (AI) tests on our new Big Whale Report. The models are being refined and we expect to see this running through our platform second quarter.
Please note, we may reduce the number of users on our platform as it scales out - so get in quick, Register
Some customers will prefer to have their own reports and environment. Our platform is highly customisable to individual customers' needs. Please reach out to us at commercial@cryptostatto.com or contact us here www.cryptostatto.com/contact
We still have more tests to add to our test suites to add more confidence to the platform. One clear area for improvement are data quality tests to assert that our reports do what we expect of them.
Currently, the platform has been running on low cost infrastructure. To be able to scale out, we will be upgrading the platform's services in the following year.
We are to be enabling our referral programmes and other tie-ins to help grow the platform. If you wish to be involved we would love you to reach out find let us know how you could help grow the platform. You may have ideas for reports that you wish to be added to the platform and we would love to be able to fulfil this - so please reach out, commercial@cryptostatto.com or contact us here www.cryptostatto.com/contact
We have seen unbelievable increases in the size of the cryptocurrency market. As we always see, Bitcoin is the first mover pulling everything else up with it. The analogy we have for this is a snake, the snake's head moves first but the tail oscillates above and below it as the snake moves. At the moment, the snake head has pulled itself to higher levels and now the body is catching up and overtaking it. Opinion, not financial advice, is that the alts will move much higher in relation to the snake head. However, most altcoins are far lower than their own all-time highs. Money needs to flow into the market to allow for transfer to altcoins. Opinion based only, we wonder if many coins can exceed their all-time highs in this bull run. At the same time transferring their recent gains back into Bitcoin could be peaking too soon. This is why we have individually set higher limit orders to sell into Bitcoin.
Another major challenge is the increase attack on cryptocurrency investors in terms of capital gains tax, let us be honest they are speculators that dared to risk capital at a time of significant uncertainty. Individually those within the Crypto Statto team are looking towards cryptocurrency lending. The challenge there of course is a major movement in the cryptocurrency market to the downside. This really depends upon your jurisdiction and we cannot be offering any form of financial or investment advice.
The direction of the cryptocurrency market be it up or down reinforces our conviction the capital management and risk management is the best way to maintain individual stability within the cryptocurrency space.
We are seeking to establish a framework of risk management and wealth protection in and outside of the cryptocurrency space and this is where the platform is heading towards. Again, we are not financial advisors unqualified to offer financial advice and so Crypto Statto can only be used as a source of information for individuals. Always seek independent financial advice from regulated entities. That's being said the market sector for cryptocurrency looks incredible.
The one huge area cryptocurrency will excel at is providing services two regular individuals and there is no doubt that automation through AI will truly transform on individuals' way of life to the better, whether that involves being financially better off is uncertain, but convenience and control should improve their day today existence.
Navigating this space is an incredibly complicated affair, platforms such as Crypto Statto are the way to aide you in understanding the space.