Exorde uses a decentralized protocol to collect data from around the world

By Bimevox | Ambassador projects | 31 Jan 2023


Investing in Bitcoin is a nerve-wracking and unpredictable experience. Some choose the HODL strategy, while others decide to actively trade a traditionally volatile asset. Cryptocurrency market sentiment is as volatile as prices. One day there is a pump, and investors start talking about Lambas, and the next day, a catastrophic dump is expected, and the mood becomes capitulation.

Whatever the direction of the trend, the “crowd” is more likely to make mistakes in forecasts. Financial market sentiment can almost always be used as an indicator. It must be remembered that the financial market is created by people who manipulate money and people, trying to deceive each other and make money on it. And people are emotions and mistakes that affect not only the amount in your pocket, but also the psychological state of the participants. In order to somehow control this process, a special Fear and Greed Index is used, which reflects the current attitude of the market to certain groups of assets.

Fear and Greed Index was invented by CNNMoney analysts in 2018; it is based on the logic of the market and traditional psychology. It is assumed that investor sentiment directly affects the future price. For cryptocurrency operations, there is the Crypto Fear and Greed Index - a representative of a large family of crypto-indices, there are also such as The Bull & Bear Index Augmento, WhaleAlert. And it can be used as an additional analysis tool.

However, to be honest, the analysis of this indicator does not give any guarantee or a clear algorithm of actions, especially for novice traders. It simply systematizes some fundamental information.

The problem is that the Fear and Greed Index uses parameters obtained from the results of the trading day. And the trader needs to react to market conditions in the best case even before the start of trading operations.

And this is where the Exorde protocol can help. The Exorde Index measures market sentiment BEFORE trading takes place. Exorde is built around a core platform that provides unbiased credibility scores for information (and virality-related analytics) based on the community, AI modules, and a token-based economy.

Exorde uses an open source decentralized protocol to collect data from around the world. The project is based on the idea of decentralization, which guarantees data neutrality and transparency. Exorde aims to extract and sell brand/cryptocurrency/share reputation scores based on what people say on social media.

Currently, the protocol can define the following relationship:

Neutral - Awareness - Confusion - Entertainment - Approval - Curiosity - Disapproval - Love - Annoyance - Caring - Gratitude - Surprise - Optimism - Nervousness - Admiration - Excitement - Joy - Desire - Disgust - Fear - Anger - Disappointment - Sadness - Embarrassment - Pride - Relief - Remorse - Grief.

Exorde receives input URLs for public information such as social media posts, press articles, photos, and videos. These URLs are then processed in a decentralized data pipeline that produces output graphs linking all similar data and facts. The analyzed content is stored in an archive that has open access, so any person can access the original information at any time and from anywhere in the world.

Exorde is run by its DAO (Decentralized Autonomous Organization) and uses community votes and polls. Management will be decentralized among all members of the community. Collectively, they will be able to change the internal rules and parameters of the systems (rewards, limits, delays, scheduling, etc.) and will have a built-in reputation system. These mechanisms are designed to continually align the interests of the community and its governance for the benefit of Exorde.

If you want to see the Exorde Index in action, visit https://exorde.io/. If you have questions about the Exorde Index or the protocol behind it, please visit our Discord: https://discord.gg/e4y7bjQSwW

Written by Bimevox
Join to Discord: https://discord.gg/e4y7bjQSwW
Twitter: https://twitter.com/ExordeLabs
Reddit: https://reddit.com/r/Exorde

@ExordeLabs @ExordeIndex #crypto #web3 #protocol #exorde $EXD

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