According to a 2019 Forbes article, ease of use was identified as, surprisingly, one of the top 3 problems of blockchain, an immutable, transparent, and decentralized technology. The author, an experienced retailer, and blockchain enthusiast stated unequivocally that the technology, albeit a cherished innovation, is still a mystery to the average individual. Sincerely, that is not far from the truth.
Blockchain, the underlying technology behind cryptocurrencies like Bitcoin, Ethereum, Euler Tools, Ripple, Cardano, etc., as mentioned earlier is innovative but navigating it has become, unfortunately, a herculean task, especially for traders, investors, and enterprises.
Influx of Crypto Projects — Traders’ Problem
The launch of Bitcoin a decade ago opened up tremendous opportunities for the development and subsequent launch of a ton of projects. Presently, there are over 7,500 active crypto projects trading on the market, as reported by the leading crypto analytics site CoinGecko. The influx of these virtual currencies poses a huge entry barrier to prospective investors and traders.
Traders, currently, are faced with a huge problem — navigating the myriad of tokens, blockchains, and exchanges in their journey into the crypto universe.
Being a volatile market, the best way to earn profits is by careful research and study of existing projects with potential. To achieve this, there are a ton of tools needed. Depending on the level of expertise, traders and investors may have to consult 10+ different tools in their quest for the next big project. These problems have somehow hindered the supposed growth of this disruptive technology, delaying its possible global adoption.
As part of a bigger vision to set blockchain back on the path of widespread adoption while eliminating the existing entry barriers for investors, traders, enterprises, and developers, a software developer Jorge de Los Santos, after total liquidation decided to dive into the blockchain technology, according to him, to learn how he has lost all of his assets to the volatile crypto market and maybe seek closure.
A few years later, Santos understood how complex blockchain is and subsequently described the immutable technology as “elitist and inaccessible” prompting him to get to work.
The Euler Vision
According to the official website, Euler Tools is a unique platform that seeks to discover and explore blockchain content with a clean, easy to navigate, and responsive interface. Extracting relevant data from blockchains, Euler combines it with multiple sources, therefore providing traders and investors alike with all of the information they need in a single place.
Leveraging and combining Data Pipeline, Machine Learning, and ETL technologies, this platform named after legendary mathematician Leonard Euler who single-handedly developed a graph and solved the Königsberg bridge problem, will employ these technologies to clean as well as filter the results derived, enabling them to deliver the most relevant data.
While a ton of similar projects are in existence, Euler Tools claims to automate the entire process by turning blockchain data into an array of events via methodologies and advanced technologies used by data processing companies.
Speaking to reporters, the developer behind this project highlighted a ton of features this platform will offer traders, investors, and enterprises. Access to an advanced and responsive blockchain with enhanced capabilities has been identified as one of the foremost.
Comparing tokens, exchanges, currency base, burning rates, amongst others, as reported by the website, are a few of the other alluring features of this blockchain-based platform.
Albeit free to use, most of the advanced features will be reserved only for premium users, as clearly stated by the platform. The Advanced and Pro premium subscription models require users to hold about 4,000 to 40,000 EULER tokens, the platform’s native currency.