The world’s largest crypto exchange platform by volume is announcing support for a new “intel-to-earn” altcoin project that lets users buy and sell on-chain crypto data.
In a new company announcement, Binance says that it’s rolling out support for Arkham (ARKM), the native token of an intelligence exchange where buyers can place bounties on specific pieces of information.
The altcoin was released on July 11th on the Binance Launchpad, a platform created to aid startup blockchains.
In a lengthy thread, Arkham says the intelligence exchange was created because the firm noticed that both the demand for on-chain analysis and the amount of sleuths who can provide them have risen.
The crypto firm goes on to explain how the platform works for both buyers and sellers.
“Buyers on the Arkham Intel Exchange request intelligence from the community by placing bounties. Bounty hunters claim them by submitting the requested intel, thereby earning rewards.
Conversely, 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.’”
According to Arkham, buyers of information will have exclusive access to the intelligence they purchased for 90 days. After that, the data becomes available to all users.
“Buyers solicit intelligence by posting bounties, requesting intel on anything they’d like to know. Bounty hunters claim these bounties by submitting intel in response to them. Any Intel bought and sold on the Intel Exchange will be exclusively held by the acquirer for 90 days.
It will then be propagated to all users. This gives the purchaser time to extract as much alpha as possible from the intel in the short-run While ensuring decentralization of on-chain knowledge to the community over the long-run.”
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inboxCheck Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/FlashMovie/monkographic
