Google Launches Crypto and Blockchain Analytics Tools

Search giant Google has recently launched a new set of crypto and business analytics tools to provide deep data sets for top-performing digital currencies, as well as to revolutionize blockchain search.

Google Cloud has rolled out blockchain transaction history datasets for Bitcoin and Ethereum over the past year. On February 6, the company introduced six more datasets to complement a deeper set of queries that allows multi-chain analyses and integration with traditional financial record processing systems.

Bitcoin Cash, Dogecoin, Ethereum Classic, Dash, Zcash, and Litecoin are the six new blockchain datasets. Allen Day, a developer of Google Cloud, told Forbes:

“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.”

The blog further explained that the company chose these five specific crypto assets, namely LTC, DASH, BCH, DOGE, and ZEC. These five have similar implementations since their source code is derived from, while ETC is based on Ethereum (or as many might argue, is the original Ethereum blockchain). A common codebase, the Blockchain ETL (extract, transform, load) ingestion framework, will ensure that all datasets will update every 24 hours. By implementing a low-latency loading solution, it will allow real-time streaming transactions for all blockchains.

Last year, the BigQuery data analytics platform of Google began with Bitcoin and Ethereum. Meanwhile, developers have been tracking the usage of the software at the time to develop the next six datasets.

The competition heats up as retail giants and rival tech Amazon and Microsoft have also delved into the cloud and blockchain space last year. Google, on the other hand, remains to lead the big data systems for several years and aims to have the same spot for the crypto industry. 

“This is not some kind of dependency on government agency reporting,” Day stated. “We have all the data, and we can pull metrics and look at them and reason about them over time.”