Monitor On-Chain Activity of Wallet Addresses

Written by
Tatum team
May 22, 2023
min. read

As the world of blockchain continues to evolve, the need for effective tools to monitor on-chain activities becomes increasingly essential. In this post, we'll discuss the importance of on-chain activity monitoring, the challenges that come with it, and how Tatum SDK's Address Event Notification feature can aid in simplifying the process.

[.c-text-center]Get started with Tatum SDK to monitor on-chain activity[.c-text-center]

[.c-text-center]Simplify the process of monitoring all blockchain transactions with the Tatum SDK for efficient, simple, and reliable blockchain address monitoring.[.c-text-center]

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Why monitor on-chain activity?

  • Enhancing Security: By keeping a close eye on on-chain activities, unusual transactions indicative of potential security breaches or fraudulent activities can be spotted early on, thereby mitigating possible losses.

  • Informing Business Analytics: Monitoring on-chain activities can provide valuable insights into user behavior and trends, which can subsequently inform decision-making and strategic planning.

  • Ensuring Regulatory Compliance: For businesses operating within certain regulated industries, monitoring and reporting on-chain activities might be a requirement to prevent money laundering and other illegal activities.

Challenges users face in on-chain activity monitoring

Despite its importance, monitoring on-chain activities is not without its challenges. The decentralized nature of blockchains, their complexity, and the unique architecture and data format of each one make it a daunting task to track and analyze on-chain data.

Tatum SDK's address event notification feature

Tatum SDK provides a solution to these challenges with its Address Event Notification feature. This feature sends a webhook notification whenever there's an on-chain event related to a specific address, thereby simplifying the process of monitoring on-chain activities.

Setting up address event notification with Tatum SDK

In this example, we initialize Tatum SDK for the Ethereum network and then use the `notification.subscribe.addressEvent` method to set up an Address Event Notification. This sets a webhook that gets triggered whenever there's a transaction involving the specified Ethereum account.

[.c-box-wrapper][.c-box][.c-text-center]To use Tatum, you'll need to get an API key. You can get one for free.[.c-text-center][.c-box][.c-box-wrapper]

Monitoring on-chain activity is crucial in the realm of blockchain technology, whether for enhancing security, informing business analytics, or ensuring regulatory compliance. With Tatum SDK's Address Event Notification feature, you can simplify the process of on-chain activity monitoring, making it easier to keep track of important events and transactions.

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Incorporating the Tatum SDK into your Web3 project ensures seamless integration, timely notifications, and efficient monitoring of all address events across the entire chain without having to deal with the complexity of a direct RPC protocol. Don't wait, and start with the Tatum SDK today!

You can also setup notifications using Tatum's notifications builder: