Monday, April 22, 2019

Google Committed To Making Tracking Cryptocurrency Performances Easy, Releases DataAssets For 6 More Coins

As part of its BigQuery Public Datasets program, Google on February 6 launched six more data assets asides from Bitcoin and Ethereum. These are Litecoin, Bitcoin cash, Zcash, Ethereum Classic, Dash, and Dogecoin. According to the search engine giant, the platform will give people an insight into the performance of these digital assets.

Google Releases Six More Data Assets

Per the press release, six more data assets (Litecoin, Bitcoin cash, Zcash, Ethereum Classic, Dash, and Dogecoin) have been released, now totalling 8. Each of these aims to give people a better understanding of cryptocurrency. Therefore, the history of transactions that have occurred on their respective Blockchain will be visible.

In line with that, people will analyze how space is allocated by miners as these digital assets are mined. The platform will also show users the frequency at which cryptocurrency addresses are reused. In the case of Bitcoin, it was revealed that 91 percent of transaction addresses are unique. Google has added that each data asset will be updated every 24 hours.

Five Cryptocurrencies to Have the Same Schema as Bitcoin

According to the US-based company, Bitcoin, Bitcoin Cash, Dash, Dogecoin, Litecoin, and Zcash will have the same schema which makes it possible to compare their transactions. They also pointed out that the reason is that these make use of the same source code as Bitcoin. However, Ethereum and Ethereum classic will have a separate schema since they are of a different Blockchain.

Google also said they were able to ascertain how people want to access data after its first launch of the data asset for Bitcoin. That being the case, the existing data assets have been restructured accordingly. Thus, the updated project now focuses on performance and convenience to bring about faster and low-cost queries.

Allen Day, Google Cloud developer advocate who spoke with Forbes 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.

While Google in the past may have given off the impression that it is not in support of virtual currencies, and its stance is currently uncertain, they have still meddled in the technology of the Blockchain. BTCNN on January 14, informed of a Decenter’s allegation that Google has blocked ads with the keyword Ethereum.

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