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We are pleased to announce that Elliptic now supports native cryptoassets Polkadot (DOT) and Algorand (ALGO) blockchain. This development makes us the first blockchain analytics provider to offer comprehensive coverage of the Polkadot blockchain on a global scale.
With support for Polkadot and Algorand on Elliptic Navigator and Lensour clients now have the ability to monitor transactions, perform due diligence on crypto wallets and mitigate risk on these cryptoassets.
Importance of Polkadot and Algorand support
There has been significant interest in both blockchains as they are considered among the most applicable to the mainstream business community.
Polkadot has a market capitalization of more than $29 billion and can transfer data across public, open, permissionless blockchains as well as private, permissioned blockchains — meaning its use case is extremely diverse — and interest in the network has been boosted by its high profile. creator Dr. Gavin Wood — co-creator of Ethereum.
Meanwhile, Algorand’s new approach to distributing ALGO assets has seen its market cap rise to around $11 billion (at the time of writing) and is recognized for its smart contract capabilities.
Elliptic CEO Simone Maini said:
“Algorand and Polkadot are blockchains with real potential to create greater efficiency and innovation in the financial world. We’re thrilled to support them starting today with the rigor that Elliptic is known for.
“This development is an important step towards our goal of supporting the financial community by covering the broadest set of blockchains in the greatest depth.”
Transaction and wallet verification for Polkadot and Algorand
These new assets come to Elliptic’s platform with full coverage, meaning Elliptic’s clients can leverage our analysis of more than a billion tagged entities in the crypto industry to securely process more transactions and reduce the chance of false positives.
If you would like to learn more about our crypto asset coverage or want to see our anti-money laundering (AML), counter-financing of terrorism (CFT) and sanctions risk solutions in action, please contact us here.
