Just In Time Indexing For Wallet Addresses

The new way to index wallet transaction history

For crypto projects and businesses, understanding their users is crucial. The most effective way to gain this insight is by analyzing users' wallets and activities. When we refer to data related to a wallet address, we mean all the activities and transactions recorded on the blockchain associated with that address. For EVM chains, these transactions can show which other addresses and protocols the wallet has interacted with, the assets in the wallet and other activities on the chain. This type of data can reveal, for example, what type of user they are and how valuable they can be for your platform.

As the number of networks and tokens continues to grow exponentially, developers and data engineers face significant challenges in accessing and managing this data efficiently. The ability to efficiently retrieve, aggregate and analyze on-chain transactions across multiple networks is necessary to stay competitive and even compliant in the rapidly evolving blockchain space. To solve this problem, The Indexing Company has developed Just In Time Indexing (JITI), which is a unique and highly customizable product.

The Magic of JITI

The inputs for JITI are simple: it requires the wallet address and the chains from which data should be pulled. You can add filters to select specific assets, such as certain ERC20 tokens or NFTs. JITI then performs a comprehensive backfill, capturing all transactions that match the specified filters across all chains. The data about these wallets can be used to power various products:

• Wallet, portfolio trackers and wallet reporting. Gives insights into the holdings, rewards and transaction behavior of these wallets. These products benefit from a wide variety of chains while their users can benefit from having all their data in a single place. 

• Trading Terminals: After a user connects their wallet, the trading terminal can give information about the users holdings and their trades or even about other traders.

• Web3 Growth and Marketing Tooling: Understanding a project's users starts with analyzing their transaction history and behavior. Having access to all transactions a user makes on a platform allows these tools to enhance their analytics and provide better recommendations.

• Airdrop and Point Programs: To filter which users can receive points and rewards, the full history of the users wallet can be added to the analysis to predict the value of a user longer term. 

These are just a few examples of the applications of this wallet data. The possibilities are endless since understanding the user empowers any business to improve their analytics, UX and their products.

The Technical Process of JITI

Since JITI is such a unique product we have to explain how developers can integrate JITI and how the process is possible. The Indexing Company provides unique data infrastructure that directly calls RPC endpoints to process the data, with no centralized database in between. Instead of preprocessing that data and selling it over an API, the data is processed upon receiving the request. JITI is chain-agnostic and can process data from both EVM and non-EVM chains. For JITI to kick-off, it needs to know the wallet address, chains and potential parameters for the filters. Often the filters are already defined and set up custom for the business.The wallet address and chains can be provided in various ways, tailored to the business's data infrastructure. This information can be sent through an API, with the option to enable or disable tracing for a specific wallet, or it can be added directly to a database table. The process can be as custom as needed. If the wallet address is in a Notion table from manual inputs, we can pull it from there too.

The JITI process

Once the wallet address and chain(s) are known, the process kicks off. JITI begins processing the data block by block. The blocks are filtered based on the wallet address and the conditions known to JITI, such as ERC20s, NFTs or specific contracts the wallet interacted with. As demand and the number of requests grows, we scale horizontally, enabling sub-second processing via our highly responsive parallel processing network. Depending on conditions, a full backfill for a wallet address can be performed in one-minute! Once a wallet is being tracked, JITI continuously monitors for activity with every block produced, so the data is up to date with the tip of the chain. JITI can connect to any database, because of the broad availability of our connectors. All data is streamed directly to the database of the business and made fitting for that business's data schema to remove further processing on their end. This shows benefits of tailored data pipelines and removes unnecessary data engineering. 

Don’t Believe It, See It

At The Indexing Company we love sparring with Web3, crypto and blockchain businesses on their product and their data needs. In most cases we can optimize their data infrastructure, save data engineering work and reduce data costs. Our work enables businesses to focus on what actually matters: their product.

Get in touch with us and see how we can help with our next-generation indexing.