Internet search giant Google has launched new tools for crypto and blockchain analytics. It is understood that Google aims to revolutionize blockchain search by providing deep data sets for top cryptocurrencies.
In spite of its volatility and price fluctuation, Google Cloud released datasets as a part of BigQuery Public Datasets that consists of the last year’s transaction history of Bitcoin and Ethereum. Big Query is a powerful analytical web service that lets users analyze the massive datasets.
With the aim of increasing the understanding of the user, Google released datasets for an additional six cryptocurrencies. The additional datasets released are Bitcoin Cash, Dash, Dogecoin, Ethereum Classic, Litecoin, and Zcash.
The company blog explains that the reason behind choosing these cryptocurrencies is because they have similar implementation as their source code is derived from Bitcoin. And Ethereum Classic is based on Ethereum whose dataset was previously published.
It has been informed that all these datasets will update every 24 hours through a common codebase called Blockchain ETL ingestion framework built with Cloud Compose. This codebase is subjected to accommodate a variety of cryptocurrency resembling bitcoin for obtaining higher latency for loading the Bitcoin into BigQuery.
Alen Day, a google cloud developer who manages the cloud portion of the project said,
“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.”
After the dataset was released last year, the developers monitored the usage of software to create the new datasets. Similarly, a machine language tool is also implemented which searches pattern in the transaction flow in order to provide the basic information on how a crypto addresses are used. The search giant believes that the sample queries will guide to form an individual’s blockchain analytics.
Google search is a blessing to the internet and with the launch of blockchain tools, Google is officially in the blockchain search business. Let's hope more companies will join the blockchain bandwagon in the upcoming days.
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