TraceCoin
PLATFORM TO LINK, ANALYZE AND TRACK CRYPTO TRANSACTIONS FROM DEXs AND CEXs
Created on 25th February 2024
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TraceCoin
PLATFORM TO LINK, ANALYZE AND TRACK CRYPTO TRANSACTIONS FROM DEXs AND CEXs
The problem TraceCoin solves
TraceCoin addresses the inherent challenges associated with tracking cryptocurrency transactions across various platforms and blockchains. These challenges include:
Lack of Transparency: Cryptocurrency transactions often lack transparency, making it difficult to trace funds as they move across different exchanges and blockchains.
Manual Investigation: Traditional methods of tracking cryptocurrency transactions involve manual investigation, which is time-consuming, labor-intensive, and prone to errors.
Regulatory Compliance: Regulatory requirements, such as Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations, impose additional complexities, necessitating efficient and accurate transaction tracking and reporting.
TraceCoin streamlines fund tracing processes, automating data aggregation, analysis, and visualization. By doing so, it enables users to efficiently track fund movements, identify suspicious activities, and generate compliance reports to meet regulatory requirements.
Challenges we ran into
TraceCoin underwent significant improvements to address challenges:
Expanded Data Aggregation: Enhanced data collection from diverse sources, including centralized and decentralized exchanges, and blockchain explorers for comprehensive transaction tracking.
Improved Fund Tracing Algorithms: Implemented advanced algorithms for more accurate fund movement tracking, identifying origins, destinations, and intermediate steps efficiently.
Enhanced Visualization Tools: Upgraded visualization features for intuitive interpretation of transaction data, aiding in better analysis of fund flow patterns.
Refined Suspicious Activity Detection: Strengthened anomaly detection and risk scoring mechanisms to better identify suspicious transactions, enhancing security measures.
Updated Compliance Reporting: Ensured compliance reports adhere to the latest AML and KYC regulations, facilitating efficient regulatory complianc
Tracks Applied (1)
Ethereum Track
ETHIndia
Technologies used
Cheer Project
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