Chainalysis has launched a tool to analyze cryptocurrency transactions in real time

Chainalysis blockchain startup announced the launch of a new instrument and the successful closure of a series of funding, during which it managed to raise $16 million, CoinDesk writes.
Chainalysis was founded in 2014. The company provides cryptocurrency exchanges, government agencies and other clients with software for analyzing cryptocurrency transactions, which allows them to better meet the requirements of regulators, assess risks and identify suspicious transactions. Among other things, The company participated in the investigation of the bankruptcy of MT.Gox and supplied software to the US Tax authorities.

According to Chainalysis co-founder Jonathan Levin, his company is creating datasets to help link "real-world activity to cryptocurrency transactions, allowing you to determine the true purpose of these transactions."

Until today, Chainalysis SOFTWARE allowed to analyze only previously committed transactions. The new Chainalysis KYT tool allows real-time analysis.

With the help of this tool, for example, cryptocurrency exchanges will be able to instantly determine whether they work with full-fledged financial institutions or questionable dealers.

"When we started doing this business, the stock exchanges were much smaller. They could manually control the processes and see if they met their requirements. Now, to work with millions of customers, they need automated tools that monitor and investigate. You don't need the results of an investigation in half an hour or 45 minutes. You need them now, " he said.
The instrument was tested on the basis of several unnamed customers. They were able to achieve a 20-fold acceleration in the speed of investigations.

Earlier Chainalysis only supported the bitcoin blockchain, today, however, governmental and law enforcement authorities have the tools to analyze the blockchain Bitcoin Cash. By the end of this year, the company intends to implement support for 10 cryptocurrencies.

To continue the implementation of its plan, Chainalysis attracted $16 million in funding with the participation of Benchmark Capital, which invests in the cryptocurrency and blockchain industry since 2014.

Levin expects that the demand for Chainalysis products will continue to grow, and it will be ensured not only by the interest of governments in improving the transparency of the cryptocurrency industry.


"We are seeing a huge increase in interest from the cryptocurrency market," Levin said. "In fact, regardless of the market conditions, this part of the business is growing faster than anything else. She is experiencing a boom. The number of our clients has tripled compared to last year, and the growth is accelerating."
+ 0 -
The news of the cryptocurrency, the blockchain, ICO, mining, trading. Current news from the world of cryptocurrencies, blockchain, ICO, mining, trading, cryptocurrency Exchange rate. Go to the website to find out all the details. Cryptocurrency news for today, the latest latest mining news in China and the world – analyses, reviews, forecasts