Google Inc. has announced adding Ethereum Datasets to BigQuery, the company’s data warehouse. Google’s BigQuery uses Ethereum ETL (Extract, Transform and Load) project to extract data from the blockchain.
Google Steps into Ethereum
According to Google’s official statement, the Ethereum blockchain mostly contains transaction data which isn’t much help for analytics. Ethereum has different ways to look up wallet balances, transaction statuses, and other factors but lacks an API for aggregated data.
Google’s announcement notes that the Ethereum blockchain primarily contains transaction data, which doesn’t provide much capacity for analytics. Ethereum provides various ways to look up transaction statuses, wallet balances, and several other things, but doesn’t provide an API for aggregated data. The entry of BigQuery will now fill the gaping hole in the Ethereum blockchain and enable wide-scale cryptoanalysis.
Google, one of the leading names in data, has invaded the realm of market data aggregators like Bittrex, CoinMarketCap, and YoBit that provide APIs that consumers have used to retrieve market data. Google’s entry into the market brings features than the fairly limited market data offered by the others.
Among the great features that Google’s BigQuery will bring into the market include a connection with other datasets that are not related to cryptocurrencies and can perform innovative analyses in addition to being used for qualitative data analysis. The company’s statement intimates it could also be used for the determination of the functionality of open-sourced smart contracts in comparison with closed-source smart contracts.
The statement reads in part:
“Fortunately, many smart contracts’ source code is freely available to use (open source). We can use this to gain some knowledge about what other contracts do from the name of the function, even for those of which we don’t have the source code because common function names will share a common signature.”
No Crypto as Financial Vehicle, Yes as a Technical Disruptor
Google’s announcement comes a few months after the data giant formulated new advertising policies that placed a ban on cryptocurrency related ads even as Google Play Store banned crypto mining Apps “to shield its consumers against risky practices in the cyrptosphere.”
It appears like, despite the bans, Google has been actively involved in researching the irresistible technological potential of the blockchain. Ethereum is the second crypto dataset to become integrated to BigQuery after bringing Bitcoin on board in February. Google’s statement on Ethereum suggests that more blockchains will join the platform in the near future as it stated:
“We welcome more contributors and more blockchains!”