Google has recently introduced a new raft of analytics tools for crypto and blockchain with an aim to create strides in blockchain search just like it revolutionized for information on the internet. The tools will offer deep data sets for the most popular cryptocurrencies.
Last year, blockchain transaction history datasets were released by Google Cloud for the two major cryptocurrencies i.e. Bitcoin and Ethereum. The company announced this Wednesday (6th Feb 2019) that it will be releasing 6 more datasets namely Ethereum Classic, Bitcoin Cash, Zcash, Dogecoin, Litecoin, and Dash. To enable integration with traditional systems for record processing, and multi-chain meta-analyses, it will also release a deeper set of queries.
Allen Day, Google Cloud developer told Forbes that, “I’m very interested to quantify what’s happening so that we can see where the real legitimate use cases are for blockchain. So people can acknowledge that and then we can move to the next use case and develop out what these technologies are really appropriate for.”
A blog by Google in relation to this aspect further spilled out that five of the released crypto assets (DASH, DOGE, LTC, BCH, and ZEC) are selected because they possess the same implementations or in easier terms, we can say that source code for all of them is derived from Bitcoin’s. While the last one, namely ETC is derived from Ethereum is the original Ethereum blockchain.
A common codebase called Blockchain ETL (extract, transform, load) ingestion framework will enable these datasets to get updated every 24 hours. Through the implementation of a feature known as low-latency loading solution, one will be able to access real-time streaming of transactions for all different blockchains.
The BigQuery platform of Google that is fast and economical data warehouse for big-scale data analytics, initiated with Ethereum and Bitcoin last year. Over the time developers have been keeping a close eye on the software to release the next six datasets.
Google also owns a Machine Learning (ML) tool which examines the transaction flow patterns in order to offer insights over how a crypto address is used.