Crystal blockchain development - outsourcing company Boosty Labs

Crystal Key Features

Offline Tracking

Crystal gives a complete visualization of transactions and the address of the final recipient or the address of the institution where the funds were withdrawn to fiat. Automatic tracking of suspicious transactions saves days compared to manually searching for information. An email notification is sent when the search is completed.

Subject Interaction

Crystal provides evidence of connections between different participants in the system, which makes it easy to determine whether transactions were carried out by one or another person. The intuitive interface displays the total number of transactions and amounts transferred between two objects over a certain period of time.

Advanced Analytical Services

An entity can use multiple BTC addresses, and a single transaction can distribute funds to multiple recipients, making it difficult for investigators to track down a specific individual. Crystal can easily determine the desired object and the movement of its funds using unique, efficient algorithms that group addresses belonging to the same owner into a cluster, thereby making all transactions related to the same object appear in the output.

Support

The Pro version of this product can be used as an internal investigative tool deployed on the internal infrastructure in accordance with the client's security policy. No data will ever leave the secure perimeter of the corporate network.

Crystal Development Advantages

Detailed Risk Assessment

Crystal helps investigators with transaction scoring and risk assessment. Armed with this "risk scorer", law enforcement officers and others involved in the investigation can track down the most suspicious transactions.To obtain a risk assessment, Crystal monitors the relationship between the entity and unscrupulous market participants (such as black market traders) and reliable counterparties. As a result, Crystal reports the degree of probability that an address is being used for illegal transactions. The results of the data analysis are presented in the form of a graph that can be used in other software tools or for reporting. Crystal is the main data source for cryptocurrency analytics and blockchain investigations. With its REST API, Crystal can serve as the backbone of a set of automated tools that track and evaluate transactions.

Comprehensive Toolbox

Crystal gathers all the information available online into one easy to use user interface. Blockchains contain a huge amount of data; Crystal checks this data and analyzes it. Blockchain data is often not associated with a specific entity – especially when it comes to illegal activities. Crystal goes beyond the blockchain and collects information about bitcoin addresses and objects from other sources such as web forums and other sites where blockchain users gather. Thanks to this integrated approach, Crystal is able to establish not only the address of the subject, but also his identity.

User Friendly Explorer

The Crystal interface is easy to use and more functional than the ones available on the market. The intuitive tool allows investigators to focus only on relevant transactions and addresses, while allowing for more detailed analysis of specific transactions.

The Crystal service is designed to detect and investigate criminal activity on the Bitcoin blockchain. The service allows law enforcement officers and private experts to trace the path of suspicious transactions to the final recipient or point of sale of cryptocurrency.

Since blockchain technology does not yet inspire full confidence among states, departments and regulators, this gives rise to various obstacles to using it as an effective tool for mutual settlements. In this regard, Bitfury Group experts thought about introducing an element of trust into the Bitcoin blockchain ecosystem.

By its architecture, the bitcoin blockchain contains information about all transactions, and it is available to all network members. Algorithms of the Crystal service download and update data from the blockchain, and also collect publicly available information on the Internet about the owners of cryptocurrency wallets.

At the same time, all information is processed so that the data is further suitable for analytics and can be presented to the user in a convenient format. The processing results are stored in the database.

The main criteria for assigning the degree of risk are confirmed public information about the illegal activities of specific participants in the Bitcoin blockchain and the presence of transactions with them by other participants, which form the so-called "darknet".

Either the user of Crystal or a third-party program can track transaction information: Crystal contains an API for integration with the user's analytical software. Crystal does not collect personal data.The developers note that the heuristic algorithms underlying data analysis, by their nature, do not give a 100% result. Therefore, the decisions made by the Crystal service are not categorical – everything remains the responsibility of the user. In addition, the project team pays attention to all cases of failures and is constantly working to eliminate them by improving the algorithms.

The goal of Crystal is to increase confidence in the Bitcoin blockchain from business, financial institutions, regulators, government agencies. With this tool, they will be able to see what is happening in the blockchain in a convenient way.