Coin Dance is a community-driven platform that offers statistics and services for Bitcoin and Bitcoin Cash. Along with other prominent sites like Bitfire, a new wave of sites is challenging models not even in the field of cryptocurrency. It seems that decentralization does not save any business area, not even statistics.
What is dance coin?
The platform tracks all types of metrics related to Bitcoin, from block-extraction statistics to volume and even worldwide. The meaning of the dance currency actually comes from the word coincidence. As with many other interesting Internet memes, words have become popular after smartphones have started to automatically correct user misprints.
Coin Dance wants to open the space of statistics by providing freely access to information, especially regarding Bitcoin. The team believes that Bitcoin evolves as it should be a protocol for the community. Furthermore, anyone should have the right to contribute to the sharing of information regardless of their technical background, social position or the number of bitcoins they have in stock.
What makes Bitcoin special is its fairly transparent nature. By maximizing data sharing, Coin Dance allows the community to interact with each other and make key decisions based on this shared data model. According to Coin Dance,
Our mission is simple: to strengthen the community and to grow the ecosystem.
Coin Dance provides volume charts primarily for peer-to-peer markets. Community members update the charts on a weekly basis so that useful trading information moves in tandem with the markets. The peer-to-peer marketplaces present are Bisq, LocalBitcoins and Paxful.
Developers have recently updated the platform to add trading data in various currencies worldwide. This update saves a lot of time for many users outside the United States who often have to convert local currency first.
The platform also offers a vanity naming service for those who want to add a bit of swag to their Bitcoin address. You can customize your Bitcoin wallet instead of using the hex or QR code provided with a standard address. Setting up your personalized wallet is not that difficult, and there is a useful Steemit tutorial link to get started.
Politics and opinion
The political section tracks the decision-making process on the world's largest cryptocurrency by governments around the world. However, at the time of writing this document, no Bitcoin proposal was being voted, but it was expected to change as the cryptography continued to evolve. This political map provides a useful overview of how Bitcoin is doing globally and allows users to track changes.
This section lists not only where Bitcoin is limited, but also how it is classified. For example, in India, Bitcoin is currently considered property, but in China it is recognized as a commodity.
The area of statistics is undoubtedly the place where Bitcoin traders, programmers and auditors come to check all the information related to Bitcoin. You can find your typical price statistics on Coin Dance.
However, it is more interesting to browse the available blockchain data, which are generally not found on other trading websites. Scroll down the details on block sizes, extracted blocks, Google Bitcoin searches, community demographics, and more. You can also find a cryptocurrency ticker based on market capitalization, similar to CoinMarketCap, near the end of the page.
Summary of Bitcoin nodes
For the most technical of us, there is the summary of the Bitcoin node. This is full of information on the estimated 10,000 nodes worldwide that manage the Bitcoin network. This section also keeps track of the nodes that are updated to cope with the recent inflation vulnerability that has been detected on the network.
Take a look at our article on the complete Bitcoin nodes to get a better understanding of the nodes and how to configure one for yourself.
The block section allows viewers to check the last blocks extracted and get a better overview of the health of the network. Mineral centralization has become more of a problem in recent times. For this reason, various members of the Bitcoin community use pool statistics to keep track of the Bitmain domain in this area.
The resource section has many goodies for beginners of cryptocurrency and Bitcoin. There are a couple of other great resources out there, but this would be a good place to start if you're not sure where to start.
And finally, last but not least, what would be encrypted without adding a bit of fun in the mix? The poker blockchain is already a thing and Coin Dance allows you to enter the game without having to register. Add some free Satoshis to your bankroll, and soon, you're up and running.
Challenge Big Data Capture?
Big data it is a term used to describe the increase in information that arrives with greater variety and at greater speeds. This phenomenon continues to grow as more and more people arrive online and create their own content.
Companies like Google and Facebook can provide free extended services because of the value they acquire from the data we provide them.
This information is not available to the public, but presents two problems. Firstly, it creates privacy problems. Secondly, it can not be used by the community that provides it if they want to build their value-added services at the top.
It seems that Coin Dance is directly challenging this model. Through the democratization of this process and the openness to statistical sharing to the public, they allow members to have a direct interest in the development of the network. This is, of course, the first few days and we will have to wait a few more years to find out if this approach can thrive among established companies that have collected firewall data.
Community-based models have enormous upward potential. The economy of sharing is more than a word of order in companies like Airbnb and Uber because these companies do not share the value acquired with their users. It is about the transition to an open world, where transparency and cooperation will probably be the instruments of the future.
Coin Dance provides a valuable statistical service to members of the Bitcoin community. It will be interesting to see how the projects will be built on the basis of their services.