Crypto data startup Nomics just secured $3 million in funding from investors including Coinbase Ventures.
The company announced Tuesday that the Series A investment will be used to flesh out its engineering team, as well as continue working to index 95 percent of all data pertaining to how crypto assets are traded.
Nomics CEO and co-founder Clay Collins told CoinDesk that, at present, almost every employee at the startup works on development full-time.
"While it's a fairly trivial task to price 95 [percent] of all cryptoassets, getting raw ticks/trades, all on-chain data, and orderbook data for these assets can prove to be quite an engineering challenge."
Exacerbating the challenge is the fact that the team is looking to provide "Gapless data," which normalizes the information to account for different time zones, ticker symbols, offline market protocols and other data variations, Collins said.
Users can access the data using the Nomics API, which provides both historical and real-time financial data on different tokenized assets.
This data can include price quotes and trading indicators, and seeks to unite the data from different exchanges.
"With regards to the API/data product for businesses and institutions, it will look like more API endpoints, more data behind existing endpoints, lower latency, improved documentation, as well as more aggregate data/indicators," he said.
The aim is ultimately that hedge funds and other investors should be able to utilize this data in developing trading algorithms and tracking market fluctuations.
Nomics has already indexed more than 3.5 billion data points, and sees roughly 35 million API calls each month, according to provided figures.
Coinbase Ventures Backs $3 Million Round for Trading Data Startup Nomics
Udgivet den Dec 18, 2018
by Coindesk | Udgivet den Coinage
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