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Analyst firm Chainalysis has announced the launch of a new tool to track transactions in decentralized finance protocols and multiple blockchains.
The tool is called Storyline and is still working in beta mode. The company claims that this blockchain and Web3 analysis tool is created entirely from scratch.
The software is designed to track and visualize smart contract transactions with a focus on non-fungible tokens (NFT) and DeFi platforms. According to Chainalysis, the popularity and distribution of DeFi and NFT have grown significantly over the past year and the tool is a response to growing demand.
“Storyline can interpret smart contracts and automatically flag common types of transactions, such as buying an NFT or exchanging assets. The user will be able to quickly add additional related transactions based on the timeline, while the transaction will be displayed in each row, and the destination addresses will be displayed in the form of columns, “the company reports.
If investigators need to look at the full transaction history and impact profiles of individual wallets and services, they will need to use Storyline in conjunction with another tool called Reactor. The program tracks the connection of crypto assets with the real world in real time.
According to the developers, both tools can provide a comprehensive and intuitive timeline of cryptocurrency movements in DeFi.
Earlier, Chainalysis analysts published a report according to which decentralized finance is becoming increasingly popular with criminals due to the ability to exchange one type of cryptocurrency for another, which significantly complicates the tracking of funds.
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