(CoinDesk) - A new service is launching its invite-only beta this week with the promise of delivering the "gold standard" for bitcoin data.
Challenger Deep is a platform aiming to make the bitcoin ecosystem easy to navigate for non-technical users, including investors, traders and consumers.
Entrepreneur and ad-tech veteran Pascal Gauthier, who is self-funding Challenger Deep with around $2m, said he saw a gap in the market for a one-stop service:
"You could find some data on the blockchain, on miners, on exchanges, but all separately. Nowhere could you find a comprehensive source for bitcoin data with a website to consult and an API to extract data should you need it."
"Whether your job is bitcoin, advertising [or] e-commerce, every market needs an independent source for data," he added.
The scalable platform offers both real-time and historic data on various aspects of bitcoin, including blockchain and market data. The data is sourced from the blockchain, alongside open and private APIs. "We are getting closer to a lot of bitcoin companies to extract more data from them," Gauthier added.
In the future, the seven-person team hopes to release more advanced features, including a bitcoin 'fear index' that will predict price direction and a way to compare features of different wallets and exchanges. A database of bitcoin companies is also in the works.
Following its beta, the first public version of Challenger Deep is due for release later this September. It will operate as a 'freemium' model, where basic access to its platform and APIs is free but users can opt to pay for add-on services or to avoid adverts.
The price tiers will be decided following the results of the beta, Gauthier said. Interested users can register for the beta starting today, with the first access codes being sent Tuesday next week.
Challenger Deep faces competition from a host of bitcoin data firms. Blockchain, the widely-cited source of bitcoin network data, is backed by $30.5m in VC funding.
Meanwhile, products such as Elliptic's 'Bitcoin Big Bang' and Chainalysis are looking to capture the compliance market with tailored blockchain tracking and labelling features.
Gauthier maintains his service will stand out as the only one "with an open access to all our data resources". Additionally, it will be built to scale.
"As the blockchain is getting bigger, as there will be more and more exchanges and companies with data needs. We will be able to support [them] all ... in an industry that is growing more complex by the day."
While the market for these kinds of services is still small, Challenger Deep is Gauthier's bet that it could grow and grow, and his startup with it.
"Cryptocurrency business will be revolutionary and will grow fast in the next few years. What seems to be a small niche market today is potentially enormous in the future. So yes, we believe that, in time, the market for bitcoin-specific data will be here," he concluded.
