The Benefits Of Unblockching Blockchains
2019年2月7日 - 02:51AM
ADVFN Crypto NewsWire
Bitcoin Global News (BGN)
February 06, 2019 -- ADVFN Crypto NewsWire -- In September of last
year, Google added the Ethereum network to their big data analytcs
platform BigQuery. For most commonly used cryptocurrencies there is
an API for doing simple searches on the given blockchain for thigns
like checking transaction status or wallet balances. For
cryptocurrencies like Bitcoin that are used primarily as stores of
value and normal transactions, this is sufficient. However,
blockchain networks with a more diverse toolset, it becomes more
complicated.
The addition of more complex search
capcity allows all of the Ethereum’s network data to be searched,
which is most relevant to the networks abilty to form intricate
smart contracts. Google has since added many other cryptocurrencies
to their data analytics platform, and most recently this previous
Ethereum addition has allowed them to easily add the Ethereum
Classic (ETC) network.
Visualization and
Accessability
The system synchronizes the
ethereum blockchain to computers running Parity, and takes the data
from the ethereum ledger on a daily basis. It "de-normalizes
and stores date-partitioned data to BigQuery for easy and
cost-effective exploration." The purpose of continually “blocking”
a blockchain network is to reduce the amount of data, while
maintaining a running ledger that has a components of all previous.
This is important because any changes to the network would affect
the network as a whole.
This allows cryptocurrency network
or more robust network with smart contracts like Ethereum or
Ethereum Classic to operate quickly. It would be impossible to
funciton without condesing the data to blocks. However, this makes
it very difficult to pull useful data from who the network is being
used.
This visualization could help
prioritize improvements to the Ethereum architecture itself. A
Brazilian entrepreneur Edilson Osorio Junior, CEO of OriginalM
believies access to this data will make it easier for his startup
to function. He started a blockchain voting and verification
startup back in 2016, and was even a particiapant in Google’s
Startup Residency Program in 2017. Google’s data analytics platform
takes some of the work off his company:
“Retrieving from BigQuery will be so
fast, so I don’t need any more to have a local database to be
redundant.”
By: BGN Editorial Staff
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