A week ago, the Cryptoforecast team took a big step towards its goal of increasing transparency and reliability in the cryptocurrency market data with the launch of the Veritas platform: a milestone we’ve been working on for a long time, and that will be of great help to our users.
The crypto market has, among its limits, great issues in keeping up-to-date the information available on data providers: if for example you are running a cryptocurrency project and ask a data provider to update your supply and website information, you may have a lot of drawbacks in getting your data updated, regardles of how many forms you fill out. This causes problems for investors (particullary for beginners) and teams who often encounter inaccurate or outdated data, even after numerous reminders or requests. A situation that leaves room for scammers and fraudsters. To address these issues, we’ve created a new tool: Veritas.
Veritas – Verified Data Administration – allows the development teams members of the various coins and Exchanges to qualify themselves as a trustworthy source and edit the information about their projects in a totally autonomous way. In this way, with the collaboration of the teams, we can make available to our community – and to those who follow these projects – information always updated, collected all together in a single page in the “Coins Info” section. This is an example from the Ravencoin profile:
Veritas membership has a double meaning: first, it highlights the commitment of the various “legit” teams to provide the most accurate information possible through every available means and, second, it also provides our users with a guarantee that the information on the platform is correct.
In order to make these advantages clear and facilitate users’ search, the projects participating in Veritas will be marked with a verification badge that will guarantee the authenticity of the information contained.
This is extensive information about projects, starting from supply to social links, Telegram chats, and websites (which are the first things to be falsified by scammers, so they must be verified as much as possible to avoid any risks).
Exchange can also verify their data. This is extremely important for users: through veritas, it will be possible to compare payment methods (“payments”), user identification level (“know your customer”, KYC) and whether or not it’s possible to trade leveraged and against fiat currency (“financial data”). An example of this type of profile is the one TheRockTrading, one of the first exchanges to join our platform.
Of course, this is not the end point but only the beginning: in the future, it’s planned to expand Veritas by adding new features and also to make it a tool to facilitate communication between projects and their communities.
In short, dear community members: Veritas means truth, truth about projects and exchanges that are the heart of the cryptocurrency market. And you, what do you think about it? Have you already visited the site? Do you have doubts or suggestions? Let us know in the comments!