Cointelligence is a blockchain research and analysis company who has declared the launch of a new crypto exchange rating system. The system is inspired by their security token offerings (STOs) and initial coin offerings (ICOs) rating system.
The company is known as a market-maker whose main work is to conduct data research and analysis for the crypto economy. It basically serves as a data layer for the economy. Its actual purpose is to provide investors with relevant tools like an accurate ICO/STO listing and rating system along with a crypto exchange rating system. It is easy to find a huge amount of data, but it is proportionally difficult to collect everything and take only what you need and this company is created with the main aim to bridge this information gap in the economy.
The new system will enable the crypto community to find the most reliable cryptocurrency trading platforms. Platforms will be assessed on a few metrics such as accessibility and usability (this metric states about account setting up, depositing, withdrawing and trading funds), financial benefit (this metric states about things like fees, number of cryptocurrencies supported and market volume), team (this metric states about experience and qualifications of a team), and risk (this metric states about hacks, attacks, security protocols and insurance). More metrics will be added to the system as the company wants to provide the community with clear-cut information of each exchange.
The system will give accurate and impartial reviews which are provided by a team of crypto industry experts who will be anonymous. The main idea behind keeping their review-board an anonymous is to prevent bribes along with other forms of corruption and harassment which can ruin other rating sites, PRNewswire reported.
The Founder and CEO On Yavin Cointelligence said, “We looked around the industry and we didn’t see anyone really doing this. Given the number of hacks and exit scams the exchange industry has seen, we felt this was an important tool to protect the community.”
In December 2018, On Yavin has already announced that the company will launch the first-ever crypto exchange rating system in the first quarter of 2019. It was stated that the company will change scores based on only those improvements which are actuals, but users can give their feedback. Ratings will be absolute ratings as they are based on a mathematical system, rather than feelings and the company will update the ratings every two or three months, Bitcoinist reported.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]