A glimpse of the future of blockchain analytics. Google adds Ethereum to BigQuery.
A few days ago, an article was placed the Google Cloud Blog. It’s an article that hasn’t gotten a lot of attention, but if you ask me it is quite important. The article is about Google bringing Ethereum to BigQuery.
For those of you who don’t know what BigQuery is, according to Wikipedia BigQuery is a web service that enables interactive analysis of massively large datasets working in conjunction with Google Storage. It is an Infrastructure as a Service (IaaS).
Source
By bringing the Ethereum blockchain to BigQuery, Google opens up a vast amount of possibilities when it comes to running analytics. You can fairly easily find out what the most popular smart contracts are, what the most popular collectibles are or check the health of a token based on senders/receivers ratio and other metrics. How cool is that!
It is pretty cool actually and also a bit scary. With the Ethereum (and in the future other blockchains) being public, it becomes more and more easy with tools like BigQuery to track value transactions. Private companies and governments like this a lot. Individuals? Not so much.
So, do you think that developments like these are a good thing? Let me know in the comments.
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There is always a double edged sword when it comes to something big like this. I am pushing to see Crypto crest the early majority and this is a neat step in that direction.
Perhaps it will lead to some systemization and larger organizations leveraging it. Will have to see who that will shake out, how it effects me, and what I will do about it.
Til then, all aboard!
That’s actually pretty interesting and I’m also surprised an addition like this would fly under the radar like that! I’m a fan of big query and it’s ability to pull big data queries! I think I’ll play around with it and see what I can pull from it!
Should be able to extract some pretty cool insights on what’s happening on the ETH blockchain! Can’t wait to play around with it
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Cool, I am curious what you come up with!
hi @cryptotem
It has been a while since I've hear from you so I decided to check your blog and see if you're still around.
I've noticed that you're not very active lately. having a break? or did you give up on Steemit? (hope not)
Yours, Piotr
Hi Piotr, I have definitely not given up on Steemit. I am actually in the middle of preparing for moving, so that takes quite some time off my hands.
I hope to be able to post something interesting soon again!
How are you doing?
Moving? Omg. Where are you moving from/to @cryptotem ?
Thx for asking. Getting married in 2 weeks :P So also quite busy lately.
Yours
Piotr
Wow, big step congrats! Where will it take place?
I will be moving from Amsterdam to Jakarta, so basically moving to the other side of the world ;-)
This is good news in terms of adoption, however as others have expressed I am not exactly a fan of Google starting to flex their muscle with regards to crypto..
Yeah I get what you mean. As a data company I can imagine Google trying to get that 'nr 1 blockchain analytics service' title similar to the website analytics title they have with Google Analytics. Great business with serious government and multinational contracts potential.
Why is ETH so depressed in price? At some point it should have a bigger market cap than BTC....yet stupidity of the market persists
In the last few months a lot of ETH has been sold by all the projects that did their ICO in the last 6-12 months. Combined with the fact that the number of ICOs (at least big and good ones) has slowed down partially results in the price decline I think.
Very nice
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Great article, @cryptotem!