• Sun, 22 Sep 2019, 01:46 AM
  • All times are UTC
  • Edition:
Copy link
Increase text size
Decrease text size
Link copied

CoinGecko releases 'Trust Score 2.0' system to provide 360-degree view of cryptocurrency exchanges

Image Credit: CoinGecko Facebook

Wed, 11 Sep 2019, 17:05 pm UTC

Crypto market aggregator CoinGecko has announced that it has upgraded its “Trust Score” metric, which aims to bring a more robust exchange ranking system.

As per a press release, the new upgrade, called Trust Score 2.0, will go beyond liquidity measurements and look at four additional major measurements, including exchanges’ API technical coverage, the scale of operations, estimated cryptocurrency reserves, and regulatory compliance.

CoinGecko Co-Founder TM Lee said that following the new launch, “progress is being made to promote transparency amongst cryptocurrency exchanges. We look forward to innovating further to better evaluate cryptocurrency exchanges based on a comprehensive set of data.”

After the new scoring system went live, CoinGecko named Binance, Bitfinex, Bittrex, Poloniex, and Coinbase Pro as the top five crypto exchanges based on its metrics.

Cryptocurrency Reserves and Regulatory Compliance categories are not included in the overall Trust Score 2.0 calculations for now but are considered candidates for inclusion in future Trust Score algorithm updates,” the company stated in the post.

CoinGecko has collaborated with Bitfury’s Crystal blockchain to carry out on-chain analysis of the bitcoin, ethereum, and bitcoin cash reserves of exchanges. It also partnered with Coinfirm’s AMLT Network to analyze the exchanges’ regulatory compliance.

With the introduction of Trust Score 2.0, the market can now leverage CoinGecko’s extensive dataset for a ‘360 degree view’ of both cryptocurrencies and exchanges.We believe that the best way for the market to grow is to be transparent and to empower cryptocurrency traders with data that helps them make better informed decisions,” the firm stated.

Speaking to CoinDesk, CoinGecko Co-founder Bobby Ong said that the firm has seen a growth of 706% in the number of exchanges it is tracking, up from just 45 to 363 exchanges now.

CoinGecko launched Trust Score earlier in May to offer additional insights into the liquidity of exchanges through order book and web traffic analysis. The initiative aims to fight fake and manipulated exchange volumes and to help investors avoid exchanges with poor actual liquidity.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • Bitcoin (BTC) $9,958.95 (-2.12%)
  • Ethereum (ETH) $211.68 (-3.49%)
  • XRP (XRP) $0.282900 (-4.25%)
  • Bitcoin Cash (BCH) $307.14 (-3.00%)
  • Litecoin (LTC) $72.35 (-3.75%)
  • Bitcoin (BTC) $9,958.95 (-2.12%)
Sep 20, 2019 (Friday)
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
Crypto Technicals: LTC/USD Technical Analysis Summary
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
Azerbaijan's State Customs Committee seeks to exchange information with global counterparts via blockchain
Coinbase considers listing 17 new digital assets including Kadena and Telegram
Crypto Technicals: ETH/USD consolidates previous session's gains, bias bullish above 200-DMA
US Congress’ upcoming hearing with SEC to focus on cryptocurrencies and Libra
Crypto Technicals: BTC/USD retraces from 3-week lows, resumes range trade, bias neutral
Square Crypto taps former Google, Facebook and Lightning Labs execs for inaugural developer team
Crypto Technicals: XTZ/USD struggles at 200-DMA resistance (1.1209), break above to see further gains
Bank of America joins blockchain-based trade finance network Marco Polo
Patrick Byrne sells off his $100M Overstock stake to buy cryptocurrencies, blames 'deep state' and SEC
Early ethereum supporter Steven Nerayoff faces $12M cryptocurrency extortion charges
Crypto trader Genesis acquires Qu Capital to bolster trading technology
Crypto Technicals: IOT/USD Technical Analysis Summary
Pakistan's Faysal Bank becomes the country's first bank to adopt Ripple's xCurrent technology
All 7-Eleven stores in the Philippines now sell bitcoin, thanks to the new partnership of Abra, ECPay
Arab Bank Switzerland partners with Taurus to offer cryptocurrency services to its wealthy clients
IBM, Citibank, Ubisoft signed up as corporate partners of Singapore's blockchain accelerator Tribe
Sep 19, 2019 (Thursday)
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.