Bitcoin Forum

Hello!

Our team just published the beta version of ChainScore  (https://chainscore.org)yet. We want your opinion, how accurate do you think the list is?

Also, if you miss an exchange, you can submit after a short sign up process. If you want to give more (or fewer) points to an exchange, please answer questions on the exchange's ranking page.
chainscore.org (https://chainscore.org)

Thanks  ;D

Well first of all, you need a good topic title :-P

Archive: http://archive.is/KgDbM

Yeah, done, sorry.

How are you planning to avoid SPAM scoring by multiple fake accounts?

Thanks for the question, a really good one.
We're working on a spam filtering feature. I don't want to write down everything, but it won't only filter the ip address like other sites. There will be some honey pots and some reCaptchas of course.

It looks simple and the interface gives a lot of information without misleading, good work but the most important is the content.

 - What is the algorithm by which platforms are rated and evaluated?
 - How are assessments/reviews evaluated and filtered?
 - Is there any mechanism to ensure no manipulation?
 - Have you taken into account the geographical factor? Regulatory laws? Being the foundation before the rest of the ratings.

If we get a clear answer to the above questions, you may gain some credibility.

Hey hugeblack!

The algorithm is a very beta python code, includes other libraries and APIs.
So scores come from automated queries and from user answers. The only one possible modification is that what matters more to the final score. We think security is the most important, the second is popularity (in 2019 august this is the most accurate number, see below), and fees are the third today. Community and user interface are less important in the final score, later they will be increased if we have more precise data.

So in 2019 august, the score categories are:

• Popularity - Based on last month traffic (Similarweb)
• Fees - Withdraw and trading fees (ccxt)
• UI - Google page insight score (not so perfect, but with user reviews, it will be finer)
• Community - Number of Github repos containing the exchange's name. (Its score will be merged with Popularity, and we will add a new Liquidity score later.)
• Security - yeah, that's a secret now, cause we don't want to make easier to cheat the beta algorithm. That's not perfect, but now it returns perfectly well what we think about exchanges. By chance (or not), but pretty good. Also, that's why the algorithm isn't open-source, but it's planned. We contacted some companies that deal with more detailed website security analysis. After we found a better one, it will be open-source.

In some weeks, all data (what matters in the score) will be public on the exchange's page (that also will be more useable information for visitors).


- What is the algorithm by which platforms are rated and evaluated? - We want to list every crypto exchange, but now we have only ~100+. You can send a missing one after a short registration, and other people will vote to accept or reject your recommendation.
- How are assessments/reviews evaluated and filtered? - Every question has a weight, in the scoring process, they will be averaged. Of course, we try to filter out answers from non-reliable users. There are some honey pots for trolls and ReCaptcha. That will be an endless fight, but we deal with it really well.
- Is there any mechanism to ensure no manipulation? - As I said, we would like to make our algo open-source later. We want to be 100% transparent, but I said before, we have technical limits now. Of course, you can check each exchange monthly traffic, fees, security settings, etc. It will be the same on ChainScore, but in a 0-10 range.
- Have you taken into account the geographical factor? Regulatory laws? Being the foundation before the rest of the ratings. - Hmm. Not yet, but that's a good idea, maybe we need to create a different main page for China, America, and Europe. Also, we want to show later, where the exchanges are located.

I hope my answer was exhaustive. If you have more questions, feel to free to ask  :)

You don't really provide the reader with information about how exactly each exchange is scored, what are the metrics that are used when generating the aggregate Chain Score?

Would be nice if you included whether or not exchanges are known to participate in volume inflating measures, such as wash trading. These should have their reputation score completely nerfed and should have a red flag pasted next to their name.

In the previous comment, I wrote down a lot about the scoring algorithm.

That's a good idea, maybe we can use Coinmarketcap's API and check that is the reported volume equal to the Adjusted volume. What do you think?

A lot of the images on the site seem to be 404ing. May want to get that fixed.

As for first impressions, the site looks good. I do like the design. On login/register, your "Login w/ Google" button does seem a bit odd (CSS messed up?)

Not that popularity and fees aren't good factors that newbies use to decide on an exchange, but as an occasional exchange user myself (strictly to exchange, never to trade), I don't really see these as factors. Fee differences are negligible to most users (and for those who have volumes that would make fees significant, they would choose an exchange with liquidity). Popularity? I might even choose an exchange with fewer users so I get a platform that isn't congested. Fact, it's why I've stuck to my small platforms.

Customer support speed/efficiency. I know this is a hard rating. But if you could somehow scrape for public support requests, average out response times and effectiveness/accuracy of responses, this would be a unique rating no one uses. And if you've used exchanges long enough, you know how important this factor is.

Hey, Initscri!

The page's content is being edited by the community, so that's why there are no images everywhere. We also need to receive descriptions for each exchange. To make this editing/sumóbmitting even more interesting, we tried to make some gamification - you will receive scores and levels for each answer/recommendation/comment/etc.


Hey, buwaytress!

I totally agree the support is one of the most important factors. There is a question on each exchange's page, which asks that is the support answered in 24 hours? If the answer is yes, that will increase the final score.
What you said about small exchanges is interesting. The popularity is the worst factor, but now this is the most non-subjective and measurable number. I believe bigger exchanges have more reserved money, so your money won't be lost in a hack.

But what I said was also effectiveness of the support. I could program a bot to simply respond with a meaningless and unhelpful response like "please check out our FAQ on withdrawals". In fact, a lot of supposedly Live support bots do this. It's not only frustrating, it gives a false impression of the efficiency and effectiveness of support.

I'd rather wait 48 hours and get a clear coherent solution, then 5 minutes but waste the whole hour talking to someone who doesn't understand the issue.

About bigger exchanges, it matters little if they have reserves or not, it matters what they plan to do when a hack occurs. Smaller exchanges in Japan have insurance on all deposits, for example. Most people also didn't even know Binance had a reserve fund until they were hacked -- and is there proof that reserve funds are in addition to proof of funds for all deposits? Can never truly know unless the exchange shares all of this =)

Nice project. Not a first at market, e.g. https://cer.live/ (https://cer.live/) have a much more data. But now we need an any ratings and various approach to this. Awesome!

Maybe you add dedicated section - derivatives exchange? It's have some differences between spot and its be great idea. You have BitMEX, Deribit etc. If you need help, me and our team can help you and do some relationships and partnership at this project. Please, feel free to contact us - raiden@coinindex.agency

P.S. I see some error, not all images loaded (e.g. Lykke, BTC-Alpha and so on).

Yes, I love cer.live, but I wanted to create a more open (edited by the cummunity) site. (funny, their website went offline)
ChainScore (https://chainscore.org) already has a dedicated section for the exchanges with margin trading (https://chainscore.org/?type=margin), you can found it on the "advanced" tab. Did you mean that?

I contacted with you, from the email w*****@gmail.com at 15:51 (UTC timezone)

No, margin trading not really about that. Spot maybe marginal too. But I talk about true derivatives - Futures, Options, Swaps. Of cause, lot of trading that has marginal.
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Yes, I received your email, answered asap and shortly presents our project and idea about collaboration. Thanks!

A new article has been published about us:
https://www.bitcoinbazis.hu/english/chainscore-the-exchange-ranking-site-is-currently-in-beta-phase (https://www.bitcoinbazis.hu/english/chainscore-the-exchange-ranking-site-is-currently-in-beta-phase)

We updated our design, now it is much more transparent which exchange has how many points.