Description

Here's how it works:

1. Data Source: Nansen uses data from the blockchain. They don't control what's published there but analyze things like Ethereum Name Service (ENS) registrations, where people can assign readable names to their wallets.
2. ENS Information: They track who owns these ENS names and provide insights about wallet connections.
3. Educating on Privacy: Nansen teaches users about privacy risks on blockchains. If someone publicly shares their wallet, like in a news article, Nansen might label that wallet with their name because it's already public knowledge.
4. Labeling Wallets: They use various methods to label wallets, like algorithms, user inputs, and more. Their goal is to be accurate to avoid mislabeling.
5. Network Effect: By labeling one wallet, they can often figure out information about other wallets it interacts with, improving their overall analysis.
6. Collaboration: They use and contribute to Ethereum ETL, an open-source project, showing their commitment to the blockchain community.

In summary, Nansen started in 2019 to give better insights into Ethereum wallets. They're known for providing detailed information about wallet behaviors and connections.