Deep Dive into On-Chain Data: Uncovering the Hidden Value of Future Web3
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Deep Dive into On-Chain Data: Uncovering the Hidden Value of Future Web3
Currently, on-chain data is at a critical moment approaching the next explosion.
Navigating Web3 tides with focused insightsAs the Web3 industry evolves, the number of public blockchains has grown explosively. The accumulation of wealth on-chain—especially driven by trending topics and surging user interactions—has generated massive volumes of on-chain data. This data forms a behaviorally transparent yet relatively isolated digital realm separate from the physical world. Industry participants are increasingly collecting, organizing, and leveraging this on-chain data to develop their own unique analytical frameworks.
On the evening of September 26, 2024, OKG Research hosted an online Space session titled "Uncovering Hidden Treasures: The Overlooked Value of On-Chain Data." The event featured Selina, Product Manager at OKLink Browser; YZ, Co-founder of Roam;特邀 on-chain analyst Auntie Ai; ChainCatcher's Loners; and Samuel, Senior Analyst at OKLink and moderator. Representing diverse perspectives across on-chain data products, DApp builders, analysts, venture capital, and media, the panel collectively deconstructed the landscape of on-chain data.
Regarding current industry practices in on-chain data analysis, YZ highlighted the distinction between transactional data and application data. From the perspective of DePIN applications, project teams should prioritize application-level on-chain data, which often serves as a real-user filtering mechanism. Given Web3’s need for openness and scalability, DApps typically avoid strict KYC procedures, as high user friction could hinder growth at this stage. Therefore, effectively identifying genuine contributors to DePIN network development from vast amounts of application data is crucial. YZ also emphasized that during user growth initiatives, projects should combine on-chain and off-chain data to more accurately identify authentic users and protect their participation rights—an approach vital for sustainable ecosystem expansion.
From an on-chain analyst’s standpoint, Auntie Ai noted that blockchain technology’s fully transparent ledger system makes all on-chain activities traceable. By tracking the historical behavior of “smart money” addresses—particularly isolated or distinctive data patterns—one can uncover subtle but significant insights with profound implications, enabling better-informed decisions. She also pointed out that as on-chain indicator systems grow increasingly complex, every participant should thoughtfully build a personalized analytical framework—a quiet form of strategic博弈 (strategic game) unfolding on-chain.
Loners shared perspectives from both media and venture capital angles, explaining how on-chain data is collected and interpreted. In the context of time-sensitive major events, on-chain data often provides critical insight, clearly revealing key timestamps and actors involved in on-chain movements. From a VC viewpoint, abnormal application data can signal emerging industry trends, helping uncover market alpha opportunities—something repeatedly validated during the DeFi Summer and NFT boom periods. Various on-chain data tools have also become essential for monitoring industry developments.
Selina, Product Manager at OKLink Browser, noted that OKLink now supports 52 public blockchains. Beyond covering fundamental metrics mentioned by other panelists, it offers user-facing features such as Gas Tracker, Large Transaction Alerts, dedicated On-Chain Major Events pages, and Alpha Signals. Users can customize these tools based on individual needs to gain clearer visibility into monitored on-chain addresses. To ensure timely notifications, OKLink delivers alerts via email, Telegram Bot, and Webhook integrations. For security, users can connect their wallets to review risk authorizations and enhance account safety. For developers, OKLink provides Open APIs, smart contract verification, bytecode decompilation, and other tools to improve development efficiency.
From the perspective of OKLink Research, on-chain data is approaching a pivotal moment of renewed explosive growth. Previously invited by Bloomberg as a keynote speaker at the 2024 Enterprise Alternative Asset Investment Summit, we observed during discussions with Bloomberg product experts that traditional finance underwent a similar evolution—from fragmented data silos to integrated information systems, which ultimately gave rise to Bloomberg’s globally renowned data services. Similarly, OKLink Browser is taking an integrated approach to on-chain data, leveraging its technical expertise to aggregate underlying blockchain information and progressively segmenting it by sector and project, delivering more diverse, accurate, and accessible on-chain data services for the broader Web3 community.
Looking ahead, there is an urgent need for more intuitive and readable representations of Web3 on-chain data. Even when dealing with highly specialized content, users should be able to extract necessary insights through clear, well-structured dashboards. Data integration is an inevitable trend. Data generated by DApps should not be confined to specific chains, nor restricted solely to on-chain environments. Instead, combining on-chain and off-chain data can break down barriers between the physical world and the Web3 ecosystem, allowing blockchain technology to better serve everyday life. Ultimately, accessing data is merely a means to guide further industry advancement. What we truly look forward to are the positive, transformative innovations that emerge through data-driven insights, enriching people's lives in meaningful ways.
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