Blockchain analysis platform Arkham has unveiled the Arkham Intel Exchange, the world’s first on-chain “intelligence marketplace.” The platform is expected to create a new way for people to share and trade blockchain-related intelligence, creating a new market and opportunity for on-chain researchers.
How Does the Arkham Intel Exchange Work?
In a recent blog post, Arkham announced the launch of the Arkham Intel Exchange. The marketplace is intended to meet the growing demand for on-chain analysis and create a decentralized intel-to-earn economy, allowing on-chain investigators to earn in exchange for their research.
Announcing The World’s First On-Chain Intelligence Exchange
Buy and sell information on the owner of any blockchain wallet address—anonymously, via smart contract. pic.twitter.com/4xr7dLvOjp
— Arkham (@ArkhamIntel) July 10, 2023
The company claimed that a significant demand exists for on-chain analysis from various individuals such as traders, investors, journalists, researchers, and protocols. It also noted that a growing community of talented on-chain researchers needs a platform that allows them to monetize their skills.
The Intel Exchange tackles these challenges by connecting buyers and sellers of on-chain intelligence through a bounty mechanism. The company wrote in the announcement:
“Arkham’s Intel Exchange finally gives these talented researchers a way to monetize their skills, and meets the growing demand for on-chain research in a scalable way – by connecting both sides of the on-chain intelligence economy.”
The platform uses a bounty mechanism to do this. Users who need specific on-chain information can request by placing bounties. These bounties will then be fulfilled by “bounty hunters,” experienced blockchain researchers who provide the requested intelligence in exchange for the payment.
The Arkham Intel Exchange Supports Different Types of Bounties
The range of bounties is vast and can vary from simple tasks like requests for address labels to more complex ones. “Arkham places no strict limitations on the type of bounties which may be posted, save for a slashing penalty which will be applied to the staked funds in the event of spam submissions or poor quality bounty responses,” the company said.
Some of the more notable uses cases of the platform include finding hedge fund wallet addresses, identifying team wallets for specific protocols, uncovering the real identities of impersonators, pooling resources to source intel on exploiters, and assisting trading firms in acquiring intel on their wallets before competitors do.
Likewise, anyone with valuable information on a wallet or its owner can offer that information for sale for a buy-it-now price or via auction to other users. “This creates a liquid market for information, allowing on-chain sleuths to monetize their work at scale: “intel-to-earn,” the company said in a Twitter thread.
The Intel Exchange has a 90-day access period. During this time, only the users who funded the bounties have exclusive access to the intelligence submissions once the Arkham Foundation has verified them. After 90 days, the information becomes available to the broader Arkham community, ensuring the requested intel is not restricted forever.
The company noted that multiple users could contribute to public bounties by locking equal funds as the original request, granting each contributor access to the data within the 90-day holding period. “If the original bounty poster wishes to remain the only Intel recipient, they can try to buyout later users.”
The Intel Exchange will be powered by smart contracts. Blockchain security platform Quantstamp will be responsible for auditing smart contracts used by the marketplace.
Arkham’s Intel Exchange introduces a new platform that enables the trading and sharing of blockchain information. Its bounty mechanism and exclusive access period can help create fair compensation for on-chain researchers while meeting the increasing demand for on-chain analysis.
This article originally appeared on The Tokenist
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