The crypto space is a buzzing economy generating a ton of events, which looks to fast-track crypto’s mainstream movement or establish the technology as a formidable addition to the global business terrain. Owing to its increasingly volatile nature, it is impossible to keep tabs on events emanating from the crypto world without enlisting the help of tools, like CoinMarketCal, specially designed to collate crypto events.
In this review, we will explore the workings of CoinMarketCal, its unique features, as well as its strengths and weaknesses.
What is CoinMarketCal?
CoinMarketCal is a crypto calendar website that incorporates a community-based framework for the collation and verification of events. In other words, the platform allows its community to add crypto events, which will later undergo a verification process where users can either vote up or vote down the validity of the information featured on the website. With this model, CoinMarketCal has all it needs to assure its users that the information provided on its platform is free from bias and manipulations.
According to the information garnered while researching the website, CoinMarketCal has logged over 12,000 events since it launched in 2017. Likewise, the platform has recorded over 1 million votes and featured 2700 coins. Needless to say, these successes are evidence of CoinMarketCal’s influence in the crypto space.
Anyone can add new events to CoinMarketCal. To do this, you must include the sources of the new updates you are about to add as well as proofs. Other users will cross-check the details submitted as evidence to ascertain the authenticity of the new additions to CoinMarketCal’s calendar. As stated earlier, each event featured on the websites comes with proofs, sources, and confidence ratings, which showcase the number of people who voted on the event’s validity as well as the percentage of individuals who attest to its authenticity.
Below each event card is the handle of the individual responsible for uploading the information. It is important to mention here that CoinMarketCal has a reward system, which allows contributors to earn crypto for their activities on the website. As such, you might find at the bottom of event cards an option that allows you to reward or follow the people who facilitated the updates.
Away from CoinMarketCal’s reward system, it also incorporates a news portal where users can access the latest information relating to the crypto world. In this section, CoinMarketCal aggregates news from established news media platforms. This functionality has propelled CoinMarketCal’s status as a one-stop site to access all of the information required to stay a step ahead of the volatile crypto landscape.
Another noteworthy detail about CoinMarketCal is the availability of an API. With this feature, users can access the platform’s database and use its data for research or other commercial use. Although CoinMarketCal is free for personal use, those interested in utilizing its API, however, have to subscribe to one of its plans.
CoinMarketCal has 3 subscription plans, and the differentiating factor of each revolves around the level of accessibility offered to entities or individuals looking to enjoy the platform’s services. The first plan goes for $49.80 per month, with features ranging from access to all upcoming events to priority support. The second plan has an $89.40 price tag, and it comes with all of the services listed in the previous plan in addition to access to details of both upcoming and past events. That said, the third plan has no limitation as regards the data or service its subscribers can enjoy. Users interested in this plan must shell out $179.20 per month.
What Are the Pros of CoinMarketCal?
It Is A Community-Based Platform
One of the major advantages of CoinMarketCal is its trustless and transparent logging system that allows users to not only track crypto events but also add new ones. Hence, it enables an ecosystem that evades the challenges associated with centralized crypto calendars, which require users to trust that event-logging platforms do away with every form of bias.
It Adopts A User-Friendly Interface
CoinMarketCal’s user interface embodies elements of simplicity ideal for a website housing regularly updated data. It is easy to track popular events, as the website has a comprehensive filtering system that lets users search the platform’s database via keywords, date, coins, exchanges, and so on. Also, there are icons, which navigate users to the trending or most controversial events featured on CoinMarketCal.
The Website Has an Alert System
With CoinMarketCal, you can set alerts and receive notifications whenever events relating to a particular keyword or coin is added to the website. This alert is sent via email, and it lets users pick up to 3 coins, which they wish to keep an eye on.
It Is Free for Personal Use
CoinMarketCal has designed its business framework in such a way that it allows individuals to access its services for everyday event tracking at no extra cost. On the other hand, its subscription plans are meant for people who plan on using its services commercially.
It Provides A New Portal
CoinMarketCal has extended its already impressive array of functionalities to include news aggregation. In other words, it offers up-to-date news content on happenings relating to crypto and blockchain technology.
It Offers An API
You can incorporate CoinMarketCal’s robust and comprehensive database as a data source for your research or activities by adopting its API for lightning connectivity. However, note that these services come with a fee. And the price applicable to you depends on the type of activities and the range of services you are looking to adopt.
What are the cons of CoinMarketCal?
It Relies on A Susceptible Validation System
Recall that we explained that CoinMarketCal implements a voting system that verifies the authenticity of events added to its website. While this is a given, the design of this framework entails users to contribute to the efficacy of the platform’s contents. The more people are willing to vote, the more viable the event validation process. Therefore, in cases where there are not enough people to vote down fraudulent additions to the website, there is no clear way of eradicating the influx of illegitimate activities. And so, CoinMarketCal’s community-driven validation system is advantageous quite alright, but that does not make it any less susceptible to manipulations.