Google BigQuery Adds Ethereum Blockchain Data Analysis Tool Support
Google, the internet search giant, has added the Ethereum blockchain to BigQuery, its big data analytics platform. The company made the announcement in a blog post on Saturday. The company claimed that while there was an API for commonly used functions like checking the status of transactions and wallet balances, it is not easy to access all the data.
What the Google Blog Post Says
The post added that more importantly, the API did not allow for an aggregate view of the blockchain data. According to Google, this visualization of the data will be useful for business decision making. For instance, Google claims that the data could be used to help improve the Ethereum architecture. For instance, it could help to tell if the system was running close to capacity and thus in need of an upgrade. It could even be used to help with things such as balance sheet adjustments for wallets.
The software system that Google has created on its Cloud platform does several things. For one, it synchronizes the Ethereum network to computers that run Parity. The software will pull data from Ethereum daily. This will include the results of transactions powered by smart contract. It will then de-normalize and store date –partitioned data to BigQeury. This will make for cost-effective and easy exploration.
Use Case Examples
In an example as to why the addition is going to be useful to users, Google gave the example of CryptoKitties smart contract transactions. These are the most numerous transactions on the Ethereum network. The software even adds visualizations for pedigrees of accounts, which own over 10 CryptoKitties.
In the second example, the blog post looked at data from project OmiseGo, an ERC-20 token project. The visualization revealed that the token spiked on September 30, 2017, while another similar token, Senders did not spike. When a further analysis was done, it showed that the spike occurred on the day that OmiseGo issued token airdrops to the community.
A third example analyzed ERC-20 Smart contracts. In the blog post, Google says that various functions can be implemented by these smart contracts. Luckily, most of the smart contracts are open source. Thus, Google can use the source code to gain some knowledge of what the contracts do. This can occur even when they do have the source code since common functions will have the same signature.
Google Is Supporting the Blockchain
Google recently announced that they would release some blockchain-related tools. In the past, it has released a development kit that will offer customers an easy method to create a smart contract and deploy DApps.
What is BigQuery?
Storing and analyzing huge amounts of data can be time-consuming and costly if you lack the right infrastructure and hardware. BigQuery by Google is a data warehouse, which solves the problems of hardware, cost, and infrastructure. Best of all BigQuery lets you control access to the project and data based on the needs of your business. For instance, you can limit who can view your data.