A New Standard of Trust with TruSet & Alethio
The integration of TruSet with Alethio brings trusted & accurate business-relevant data to API users.
On December 5th, users of the Alethio API will be able to access valuable reference data verified on the TruSet platform. The integration augments the richness of data available to Alethio users by providing access to reference data valuable to businesses in addition to the on-chain data currently available from the public mainnet.
Read the documentation and get started with the API!
TruSet & The Challenge of Reference Data
TruSet is using Ethereum blockchain technology to create community operated multi-sided marketplaces for users to collect, validate, and publish fundamental reference data without the intervention of vendors or service providers, creating a new primary source of truth for industry ecosystems.
Reference data is crucial for the confident and secure settlement of today’s traditional financial operations, trade, and business functions. That data must be trusted by its users, and today’s reference data industry is dominated by large vendors who charge high fees for individuals and businesses to access their reference data.
In the emerging blockchain ecosystem, on-chain data is confidently objective, verified, and traceable. Off-chain data in the new Web3 business ecosystem — particularly reference data around users, trusted parties, and financial functions — is particularly scattered, uncollated, and subject to error. Just as in today’s traditional economy, users of emerging distributed economies need data they can trust to make investment decisions, manage token-based portfolios for financial return, and assess consumer tokens for use on blockchain-based dApps. Much of that data exists in unstructured formats and locations, including white papers, websites, blog posts, marketing materials, and other project or entity documentation. In addition, that data is often not verified by community consensus, and can lead to people interacting with untrustworthy or risky counterparties.
TruSet is addressing the problem of reference data in emerging industries by creating a platform for users to collect, review, verify, and then use critical reference data. As a community-operated resource, TruSet can better ensure quality and accuracy because validators of the data are actual market participants.
TruSet + Alethio
Alethio’s data pipeline has been providing developers, investors, dapp teams, researchers, and enthusiasts access to trusted on-chain data through a variety of products. The API — Alethio’s most versatile developer tool — gives users more control over the information they access from Alethio’s data pipeline and the method in which they access it.
By integrating TruSet into an API endpoint, Alethio improves the types of data available to users. Now, in addition to pulling relevant on-chain data, API users can additionally access TruSet’s community-validated data. As an example, while Alethio’s data pipeline can provide a developer with information about a dapp’s transaction volume, user count, security history, etc., by additionally using the TruSet API endpoint, that developer can also look at that dapp’s business history, symbology, legal entities, white paper veracity, and more.
As a practical example, take the single-collateral DAI token. Using the Alethio API, developers can access the information TruSet has collected for single-collateral DAI (SAI, now), including platform information and explanation: example reference data here.
Altogether, the integration of TruSet with Alethio provides more transparency, trust, and reliability to the emerging business framework of the Web3 future.
Stay in touch
In a trustless system transparency is key, and Alethio empowers users to monitor and explore it. We will be releasing more features in the coming period and welcome your suggestions on what new features or enhancements you’d like to see. Head out and visit aleth.io for access today! Follow us on Twitter @AlethioEthStats! Interested in exploring an integration? Drop us a note at partnerships@aleth.io — we’d love to work with you!
