Cryptocurrency data disclosure service provider CrossAngle will start a disclosure service for blockchain projects.
CrossAngle, which operates Xangle, a public data disclosure platform for the global cryptocurrency market, said on Oct. 6, “It was difficult to protect investors in the existing cryptocurrency investment market because there was no official data disclosure service for each project. This had various negative consequences, such as the obstruction of entry of new investors and unstable cryptocurrency prices. So, we have prepared an official data disclosure service to address these problems.”
Xangle is the public data disclosure platform for virtual currencies that makes the global cryptocurrency market sound and healthy by offering information related to various types of blockchain projects, including periodic report, regular report and announcement. CrossAngle has test operated the platform for about six months since March and Xangle currently has public data on a total of 353 projects.
Xangle’s data on periodic reports are recorded on the blockchain, they are divided into on-chain information that anyone can access and off-chain information that is directly provided by companies. For instance, off-chain information includes companies’ financial situation, progress of projects, quarterly results as well as whether they have accomplished milestones.
CrossAngle is planning to introduce its own standards of evaluation to secure accurate information so that it can measure the accuracy of public data. This is to evaluate how well companies perform disclosure requirement on projects within the expiration date through quantitative and qualitative indicators and how often they correct and change their data. Based on this, projects which obtain a higher grade will be exposed more to partner institutions, such as exchanges and funds, and will be offered numerous benefits for business growth.