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Ethereum joins Google as part of BigQuery, its powerful big data analytics platform.
Technological giant Google added Ethereum to its BigQuery data analytics platform, opening up opportunities for in-depth data analysis. Ether is the second most popular cryptocurrency after bitcoin.
The company said it will import the Ethereum blockchain into its BigQuery service on a daily basis, in a move that follows the extraction of bitcoin blockchain in the same service at the start of this year.
Services that show data on Ethereum's portfolio and portfolio transactions already exist, but the new Google plug-in will allow much deeper data exploration. All queries are executed using SQL, so a good understanding of the database programming tools is required. BigQuery also connects to the Parity Ethereum client wallet.
Harnessing the power of BigQuery for blockchain
BigQuery is a powerful tool and can answer a myriad of questions that people might have on a data set. In one example, Google was able to reveal that the smartest negotiated contract on Ethereum's blockchain was for the game CryptoKitties, which was used more than 2.3 times.
Google said that conducting analysis on the Ethereum blockchain can enable better business decisions. It will also help to indicate when it will be necessary to fix the same Ethereum.
The technology giant said, "A visualization like this … is useful for making business decisions, how to prioritize the improvements of the Ethereum architecture itself (it is the system running near capacity and due to a update?) to budget adjustments (how fast can a portfolio be rebalanced?).
Google has also developed a new interface to display smart contracts and now you can create useful data maps using Ethereum blockchain data. [19659005] Ethereum tokens are securities?
In June this year, the Securities and Exchange Commission (SEC) in the United States found that Ethereum is not a security William Hinman, director of the corporate finance division at the SEC said: "If the network on which the token or the currency is to operate is sufficiently decentralized – where buyers should no longer to expect a person or group to play a managerial or entrepreneurial role – the activities can not be an investment contract.
"Based on my understanding of the current state of the ether, the Ethereum network and its decentralized structure, current offers and ether sales are not securities transactions."
