The Intersection of Data Analytics and Blockchain

US government sues TikTok over child privacy

Author

Ishaan Mahajan
August 05, 2024

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🤖 Google takes another startup out of the AI race LINK

  • Founders of Character.AI, Noam Shazeer and Daniel De Freitas, along with other team members, are rejoining Google’s AI unit DeepMind, the companies announced on Friday.

  • Character.AI reached a $1 billion valuation last year and plans to offer a nonexclusive license of its large language models to Google, which will help fund its growth and the development of personalized AI products.

  • The founders, who left Google in 2021 due to disagreements about advancing chatbot technologies, are now returning amid a competitive AI landscape and will contribute to DeepMind's research team.

🚨 US government sues TikTok over child privacy LINK

  • The Department of Justice is suing TikTok for allegedly allowing children under 13 to create accounts without parental consent and collecting extensive data on them, violating US child privacy laws.

  • The lawsuit claims TikTok enabled kids to join through its "Kids Mode," failed to delete their accounts upon parents' requests, and used deficient age-gating techniques that let youngsters bypass age restrictions.

  • The DOJ is seeking to prevent future COPPA violations by TikTok and impose civil penalties for each violation, with potential fines of up to $51,744 per infraction per day.

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🧠The Intersection of Data Analytics and Blockchain

Blockchain technology has transformed industries by ensuring secure and transparent transactions. As blockchain applications expand, so does the need for data analysis on the blockchain itself, giving rise to on-chain analytics.

What is On-Chain Analytics?

On-chain analytics involves analyzing blockchain data to gain insights into transaction history, user behavior, and network health. Initially, on-chain analytics were limited to basic transaction and wallet balance views. However, advancements now allow for sophisticated analysis, including tracking transactional behavior to identify market trends and investment opportunities.

Use Cases for On-Chain Analytics

  1. Monitoring Network Health: On-chain analytics helps detect issues such as congestion, downtime, or malicious activity. By analyzing network data, potential problems can be identified and addressed to optimize network performance and security.

  2. Analyzing User Behavior: By examining transaction patterns, on-chain analytics can distinguish between active and dormant users and predict future transactions. This information aids in understanding user behavior and enhancing engagement.

  3. Identifying Fraudulent Activity: On-chain analytics can uncover patterns indicative of fraud, such as wash trading or market manipulation. Early detection of such activities helps in protecting investors and maintaining market integrity.

  4. Improving Scalability: Analysis of network data can reveal performance bottlenecks. Addressing these issues through on-chain analytics can enhance network scalability and efficiency.

The Growing Relevance of On-Chain Analytics

As the blockchain ecosystem evolves, the role of on-chain analytics becomes increasingly significant. It provides crucial insights into network health, user behavior, and fraudulent activities, making it an essential tool for optimizing blockchain performance and ensuring security. On-chain analytics is where data analytics meets blockchain, offering a comprehensive approach to understanding and improving blockchain networks.

Top Blockchain Companies

1. Nu Holdings Ltd (NU)

  • Revenue (TTM): $9.146 billion

  • Revenue (2023): $8.029 billion

  • Net Income (TTM): $1.268 billion

  • Market Cap: $64.11 billion

  • One-Year Trailing Price Return: 72.8% (as of July 15, 2024)

  • Exchange: NYSE

  • Nu Holdings specializes in digital banking services, with a notable partnership with Fireblocks. It is the fourth-largest bank in Brazil by members and has significant growth in Mexico and Colombia. It recently achieved 100 million customers across its regions.

2. Coinbase Global, Inc. (COIN)

  • Revenue (TTM): $3.973 billion

  • Revenue (2023): $3.108 billion

  • Net Income (TTM): $1.349 million

  • Market Cap: $53.54 billion

  • One-Year Trailing Price Return: 153.7% (as of July 15, 2024)

  • Exchange: Nasdaq

  • Coinbase is the leading U.S. cryptocurrency exchange by trading volume, offering various products including Coinbase Pro and USD Coin. Recent approval of spot bitcoin ETFs has boosted its shares. The company faces regulatory challenges from the SEC.

3. Core Scientific, Inc. (CORZ)

  • Revenue (TTM): $561.04 million

  • Revenue (2023): $502.4 million

  • Net Income (TTM): -$35.41 million

  • Market Cap: $1.80 billion

  • One-Year Trailing Price Return: 153.7% (as of July 15, 2024)

  • Exchange: Nasdaq

  • Core Scientific is a major crypto miner and hosting service provider. It focuses on bitcoin mining and infrastructure support for third parties, with significant growth in its sector since its founding.

4. MicroStrategy Inc. (MSTR)

  • Revenue (TTM): $489.59 million

  • Revenue (2023): $496.26 million

  • Net Income (TTM): -$85.19 million

  • Market Cap: $24.77 billion

  • One-Year Trailing Price Return: 237.8% (as of July 15, 2024)

  • Exchange: Nasdaq

  • MicroStrategy is known for its enterprise analytics software and significant bitcoin holdings. It recently announced a stock split and is preparing to launch MicroStrategy Orange, a decentralized identity product.

5. Marathon Digital Holdings, Inc. (MARA)

  • Revenue (TTM): $501.57 million

  • Revenue (2023): $387.51 million

  • Net Income (TTM): $605.58 million

  • Market Cap: $5.67 billion

  • One-Year Trailing Price Return: 23.19% (as of July 15, 2024)

  • Exchange: Nasdaq

  • Marathon is a leading crypto mining company based in Las Vegas. As of mid-2024, it holds 18,536 BTC and continues to expand its mining operations.

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