Google’s Blockchain ETL Toolset Adds BCH, Dash, DOGE, ETC, LTC and ZEC Cryptocurrencies
Earlier this month BitcoinExchangeGuide had reported about Google opening their arm to Blockchain via BigQuery. Last year Day and lead developer Evgeny Medvedev discreetly loaded transaction data for the bitcoin and ethereum blockchains, along with some basic search tools, to Google's BigQuery data analytics platform and have been studying how developers are using the software.
It is the hope of Medvedev and his team that the project, which has steadily come to be named. as ‘Blockchain ETL‘ (Stands for ‘Extract, Transform, Load), will allow Google to work gradually to regain ground that was initially lost to Amazon and Microsoft.
But while Google is working hard in order to catch up with its rivals, Amazon and Microsoft are already working on their own blockchain initiatives. Initiatives which may result in Google being left in the dust once again.
ETL includes features such as integration with Google’s BigQuery ML (machine learning) tool, which was launched into a test, or “beta” version last year. By searching for patterns in transaction flows, the machine learning integration will automatically give the user basic information about how a cryptocurrency address is being used.
Using BigQuery dataset, it is even possible to analyze how miners allocate space in the blocks they mine. Analyzing this data, for example, confirmed that there are zero-fee transactions being included in mined blocks. As a result, we can conclude that zero-fee transactions are either included by miners for their own transactions, or miners are running transaction accelerators which require transactors to pay mining fees.
Now, the toolset has six new cryptocurrencies: Bitcoin Cash, Dash, Dogecoin, Ethereum Classic, Litecoin, and Zcash.
They have already come to show that many of the promoters and investors have not been too frank on their project. Speaking about Bitcoin Cash, they said:
“Bitcoin Cash was purportedly created to increase transfer-of-value use cases through lower transaction fees, which should ultimately lead to a lower Gini coefficient of address balances. However, we see that the opposite is true—Bitcoin Cash holdings have actually accumulated since Bitcoin Cash forked from Bitcoin. Similarly, the Ethereum Classic currency was rapidly accumulated post-divergence and remains so.”
Now, after not giving Blockchain ETL any publicity, there have already been more than 500 projects created using the in-progress suite of tools, which include price predictions and wealth disparity among ETH wallets, among other capabilities.