Google Tool for Searching Blockchain Data Arrives: Blockchain ETL

 
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Google’s first blockchain tool for searching ‘specific’ data on the network has made its striking arrival. However more than the tool’s purpose, it is the glamour it holds for the common man, de-constructing the complex cryptocurrency transactions and setting the parlance of ‘legitimacy’ of cryptocurrency transactions.

For crypto users and its community, it is the biggest, positive and most exciting tool to be launched.

A tweet by Michael del Castillo@DelRayMan calls it as:

“EXCLUSIVE: Google adds support for bitcoin, ethereum, litecoin, zcash, dash, bitcoin cash, ethereum classic and dogecoin:”

Blockchain ETL

Google’s latest analytics-based tools on the BigQuery, effectively provides efficient ‘search transaction data.’

One of the developers of ETL is Allen Day, “it will require having some trust in knowing about who it is you’re actually interacting with.”

Hence, the next step to consensus networks has arrived via Google Inc.

ETL stands for Extract, Transform and Load, is used for purposes of searching technology for blockchain data.

The key factor where it shall be used is – ETL and BigQuery for analysis with respect to Ethereum, Bitcoin as well as adding Ethereum Classic Dogecoin as well as Bitcoin Cash.

Upon closer examination of what ETL can offer – showed that Bitcoin Cash is located at the top addresses. The use of the weapon is with respect to differentiating for real as well as artificial transactions for analysis of data and for purposes of effectively for tracking user every move. The purpose for private entities as well as government agencies for certain data for individuals has to be considered.

Dash which is one of the alternate coins does appear to have similar features such as separation of large balances in terms of wallets for 1,000 Dash. It will have low Gini coefficiency. According to Leon White of Dash Core,

“Gini coefficient of Dash is excellent compared to other cryptos, even considering master nodes. A low Gini coefficient indicates a more equal distribution of wealth in the data set. So it provides some evidence (but not definitive evidence) that Dash is more fairly distributed than other major cryptocurrencies.”

Hence, the value this network is to help consumers as well as merchants for cryptocurrency which is ideally suited for their needs. The advantage here is that analysis will help merchants and consumers for earning incentives for self-regulation. Google Inc’s ETL is ideal for Bitcoin Cash for top addresses.