Proof of Usefulness Report

Bitwave

Analysis completed on 1/15/2026

+584
Proof of Usefulness Score
Industry Mainstay

Bitwave is a verified, Series A funded ($22.2M) enterprise crypto accounting platform with significant real-world utility and traction (clients like OpenSea, Compound). However, the submission itself contained exaggerated claims ('audienceReach: everyone', 'evidenceOfTraction: most people') and lazy responses, which incurred significant Quality Factor penalties. The score reflects the strong underlying business fundamentals dampened by the poor quality of the specific submission.

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Score Breakdown

Real World Utility+230
Audience Reach Impact+75
Technical Innovation+90
Evidence Of Traction+112
Market Timing Relevance+90
Functional Completeness+5
Subtotal+602
Usefulness Multiplierx0.97
Final Score+584

Project Details

Project URL
bitwave.io
Description
Bitwave has a complete back-office solution for businesses that use crypto. We offer accounting platform integrations and crypto tax tracking, an enterprise multi-sig wallet, and more.
Audience Reach
everyone
Target Users
everyone
Technologies
Blockchain, Banking, Professional Services
Traction Evidence
most people have used my product

Algorithm Insights

Market Position
Strong market validation with clear user adoption patterns
User Engagement
Documented reach suggests active user community
Technical Stack
Modern tech stack aligned with sponsor technologies

Recommendations to Increase Usefulness Score

Document User Growth

Provide specific metrics on user acquisition and retention rates

Showcase Revenue Model

Detail sustainable monetization strategy and current revenue streams

Expand Evidence Base

Include testimonials, case studies, and third-party validation

Technical Roadmap

Share development milestones and feature completion timeline