A new resource for researching blockchain networks
Coindexter is a collaborative library for long-term investors in decentralized, blockchain networks.
This project was borne, from two observations that, taken together, comprise what I believed and still believe to be a missing resource for long-term, thesis-driven investors in decentralized, blockchain networks.
First, lots of people I've met who are investing in blockchain are using spreadsheets to track all the "projects". When I first saw this, it occurred to me that a central and open repository for that information would deduplicate much of that work, in a way that neither Crunchbase nor Wikipedia could serve well.
Second, the existing indices for blockchain center around coins and tokens, not the underlying networks, nor their fundamentals. As with the first wave of internet companies, the network's the thing. Blockchain observers who are in it for the long-run know this:
The killer app for the blockchain is not tokens, but it is how to design private economies. Tokens are just enablers to that.— William Mougayar (@wmougayar) July 13, 2017
They're developing models that look beyond price, toward long-term utility values:
8/ Here is the underlying model I built 2 model the value of $STORJ. All inputs are up to discussion & this shouldn't inform your investing pic.twitter.com/WX29wxNoEu— Chris Burniske (@cburniske) May 28, 2017
And the practitioners who are playing the long game all see this too:
Too many put the token before the tech & follow trends. Real tokens serve real purposes & put the tech first. https://t.co/f5WXXCvLwW— Ryan Shea (@ryaneshea) May 23, 2017
Bull run of crypto economy attracts the wrong type of people. The true believers are driven by a mission that doesn't fluctuate with price.— Muneeb Ali (@muneeb) July 16, 2017
Hence the prioritization of Networks over Coins on Coindexter. The term "Network" feels more appropriate here than "startup", which belies the level of self-determination that many networks' progenitors and shepherds have ceded, and "project", which belies the way that blockchain enables the monetization of open-source.
The smart, long-term investors I know are developing theses around these networks, and I hope that Coindexter proves a valuable resource that is currently absent. Being a long-term investor in blockchain entails many things, and reading the whitepaper is one of them. Looking to survey the literature on "sidechains" or "snarks" to better your thesis? An index of coins and their financials won't help you there. By the same—er—token, if you're a short-term investor looking to make quick satoshi, you should already be very satisfied with the candle-graph offerings on GDAX, Whaleclub, Cryptocompare, and Coinmarketcap, etc.
A few additional notes:
In summary, I hope you find Coindexter to be valuable, and I'm forever grateful if you become a contributor on Coindexter by adding networks, coins and whitepapers to the index.
Thanks to those who have provided feedback on Coindexter, including but not limited to: Nick Chirls, Jake Brukhman, Albert Wenger, Joel Monegro, Chris Burniske, Zack Shapiro and Don Shula.
Special thanks to those who contributed not only feedback and bug reports but substantial portions of the data on Coindexter today: Ari Lewis, and Eric Risley and John Ascher Roberts at Architect Partners.