“We’re the police of blockchain,” is how the AI-enabled decentralized data analytics & forensics protocol, bitsCrunch likes to identify itself.
BlockTour recently interviewed Vijay Pravin, the founder and CEO of bitsCrunch. Originally an engineer from Chennai, India, Vijay moved to Munich, Germany in 2013. Fueled by a vision for a secure blockchain future, he launched bitsCrunch three years ago. The company has since secured over $12 million in funding.
While the funding is an impressive feat, its the corporate giants bitsCrunch has managed to partner with that actually steals the show. To name a few, bitsCrunch is currently partnered with Mastercard, PwC, Accenture, EY and more. Additionally, prominent blockchain players like Coinbase, Animoca Brands, and Chainlink back the company.
But that is not all. Vijay cited that bitsCrunch recently announced a major milestone: getting listed on 15 global exchanges, including Bybit, KuCoin, Crypto.com Exchange, and Gate.io. This expansion increases accessibility for investors.
The platform also boasts over 20 million tokens delegated by network participants. These “delegators” contribute to network security by staking BCUT (bitsCrunch’s native token) without running a node themselves. Notably, nearly 866 delegators have staked close to 22 million tokens, demonstrating strong community support from almost 500 contributors.
Most importantly, Vijay was happy to share that while earning revenue is an occasional affair for most crypto companies, bitsCrunch closed 9 paying customers in its last quarter.
In March, bitsCunch announced the comprehensive indexing of all Solana blocks. As of August 2024, the company has indexed five blockchain — Solana, Ethereum, Polygon, Line Chain, and Binance. Parallely, it is also indexing Bitcoin, Ordinals, and Inscriptions.
This comprehensive coverage allows bitsCrunch to protect transactions from wash trading and money laundering while providing real-time data insights.
The company is also preparing to announce the indexing of Metamask’s Linea Chain, aiming to collaborate with the Metamask team for further support and potential grants.
Vijay explains that poor user interface (UI) and user experience (UX), cumbersome transaction procedures, and security threats are major hurdles for web2 companies entering the blockchain space.
Inspired by the rising number of crypto scams, Vijay launched bitsCrunch with a focus on security and decentralization. As he puts it, “We crunch each and every bit of data.”
Vijay remains optimistic about the future of crypto. Despite Japan’s interest rate hikes and the looming anxiety of the U.S. elections, he doesn’t expect the market to stagnate. Instead, he anticipates a positive shift.
Looking ahead, bitsCrunch aims to be the “Google of blockchain.” Vijay highlights that data is the backbone of the top companies in the Fortune 500. His vision is to see bitsCrunch recognized as a leader in the Web3 hall of fame by 2030.
