ZachXBT currently does not accept analysis of incidents related to the Sui ecosystem due to a lack of necessary supporting tools.
This on-chain fraud detection expert has repeatedly suggested that the organization behind the Sui project invest in standard analytical tools like TRM and the Etherscan block explorer, but progress has been very limited.
MAIN CONTENT
ZachXBT does not accept responsibility for analysis within the Sui ecosystem.
The lack of analytical tools severely impacts the quality of on-chain monitoring.
Why did ZachXBT stop accepting analysis within the Sui ecosystem?
Since early July 2024, ZachXBT has announced that it will no longer support the analysis of fraudulent events within the Sui platform due to the ecosystem not providing suitable tools for detailed monitoring.
With practical experience in closely monitoring complex on-chain transactions, he emphasizes: "Without powerful tools, analysis will be inaccurate and very difficult to detect sophisticated tricks."
"The lack of investment in analytical tools makes it difficult for Sui to achieve the necessary reliability in terms of security and transparency in transactions."
ZachXBT, On-chain Analysis Expert, July 2024
What on-chain analytical tools does ZachXBT recommend for Sui?
ZachXBT has advised the development fund or the organization behind Sui to use reputable analytical platforms like TRM Labs to detect fraudulent behavior, along with the Etherscan block explorer to provide detailed transaction queries on the Blockchain.
These tools play a crucial role in improving the monitoring capabilities and transparency of the blockchain-based cryptocurrency ecosystem, thereby helping investors and developers build more trust in the ecosystem.
How does the lack of analytical tools impact the Sui ecosystem?
The process of checking and detecting fraud is hindered, causing a loss of investor confidence as well as weakening security vulnerabilities in the system. This makes it difficult for Sui to compete with other ecosystems when reliability and transparency are critical factors in the cryptocurrency market.
The current Blockchain field demands high transparency and monitoring capabilities, so the omission of analytical tools will be a major barrier to the sustainable development of Sui.
"The development of the cryptocurrency ecosystem is only truly successful when supported by effective and in-depth monitoring tools."
CEO of Blockchain Technology Company, Industry Report 2024
What solutions help Sui enhance on-chain monitoring and analysis?
Investing in on-chain data analysis platforms, collaborating with top industry experts, and applying automatic transaction tracking technologies will help Sui overcome its current weaknesses.
Integrating tools like TRM, blockchain explorers similar to Etherscan, or transaction data filters will significantly enhance the ability to detect anomalies, thereby helping to protect the safety of all users in the ecosystem.
Real-world examples of the effectiveness of on-chain analytical tools
In 2023, many Layer 1 projects that heavily invested in on-chain analysis systems significantly reduced fraud incidents while growing their loyal user base thanks to enhanced security reputation. Companies with strong analytical platforms often report fraud levels on their platforms decreased by up to 40%, according to data from the 2023 Blockchain industry report.
Frequently Asked Questions
Who is ZachXBT and why is it important in on-chain analysis? As a renowned expert in monitoring and on-chain fraud detection, ZachXBT plays an important role in enhancing transparency for cryptocurrency ecosystems. Why doesn't Sui have sufficiently good on-chain analytical tools? Due to a lack of investment and not applying standard analytical platforms like TRM or popular blockchain explorers, it leads to difficulties in transaction monitoring. What are the most popular on-chain analytical tools? Tools like TRM Labs, Etherscan are highly regarded by experts for their ability to investigate and detect fraud on the blockchain. How does the lack of analytical tools affect the cryptocurrency ecosystem? It reduces trust from investors, makes it vulnerable to fraud incidents, and directly impacts the sustainable development and expansion of the ecosystem. How can the ecosystem improve its monitoring capabilities? There needs to be in-depth investment in on-chain analytical technology, collaboration with experts, and implementation of suitable platforms to monitor transactions more effectively.
Source: https://tintucbitcoin.com/sui-token-dung-ho-tro-zachxbt/
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