Trading cryptocurrencies is a very attractive opportunity, yet it’s also confusing to a lot of people. The Santiment Network is meant to address this problem. Its focus on market data feeds, newswires, and crowd sentiment insights for the blockchain world should lead to a more insightful and profitable way of trading blockchain assets moving forward.
What is Santiment Exactly?
It is evident the wisdom of the crowd plays a big role in the financial world. Opinions of so-called (and self-professed) experts have far less meaning these days. Harnessing the wisdom of the crowd, especially in the cryptocurrency world, remains a bit difficult. Santiment wants to deliver clarity with market sentiment-based content and data feeds which are not found anywhere else in the world. As such, everyone will be able to trade with confidence.
How Does it Work in Reality?
While it is commendable to see Santiment focus on ensuring that traders are never blindsided by crypto markets, doing so will require a lot of work. The focus on data should make it easier for even novice traders to learn more about market patterns. For advanced traders, this information can improve overall speed and scale. The project will eventually turn into the world’s largest library of data feeds for cryptocurrencies and blockchain assets alike.
By sourcing content and information from different news sources, Santiment aims to become the “homepage” for cryptocurrency and blockchain asset traders, so to speak. Its information will touch upon many subjects, including regulation, ICOs, blockchain, sentiment, and so forth. The project also offers a low-latency and real-time stream for quantitative trading, which is something more advanced speculators will thoroughly enjoy.
With the help of technical and business partners, Santiment can certainly become a new hub for blockchain asset trading information. Whether or not this platform can successfully counter the inherent volatility of cryptocurrency markets is a different matter altogether. Traders and market makers will bend currency valuations to their will regardless of the news. It will be interesting to see if Santiment can make any impact in that regard.
The Santiment Network Token Explained
Access to all of the features and information provided on Santiment requires the Santiment Network Token. With this token, accessing content and data feeds is quite straightforward. This token can also be staked to secure the network and earn a passive revenue stream. There will also be auctions for “exclusive” data sets, which is worth keeping an eye on. After all, SAN can only thrive if the platform provides the information traders are looking for.
The Road Ahead for Santiment
Building a data-driven blockchain economy is anything but easy. For the time being, the team is focusing on integrating the SAN token to access community work, expanding their list of blockchain data feeds, and adding bots to Telegram. Later on this year, we will see the addition of a crowd sentiment data feed, as well as the sale of the first subscriptions. In the future, a reputation system will also be implemented. There will be hundreds of data feeds by that time, with third-party integration going live around then as well.