Key Developments and Impact
Hedera Hashgraph has been added to Google Cloud’s BigQuery public datasets. This integration provides developers, analysts, and enterprises with open access to the complete transaction history of the Hedera network, placing it alongside other major blockchains such as Bitcoin and Ethereum.
The Hedera Foundation spearheaded this integration, collaborating with Ariane Labs, Hashgraph, and Google. The initiative aims to simplify the querying and analysis of Hedera data, offering users a scalable method to explore blockchain activity without the need for managing complex infrastructure.
Enhanced Data Accessibility and Analysis
The integration with BigQuery empowers users to compare transaction speeds and costs across different blockchain networks. They can also track tokenized assets and NFTs, including those utilizing Hedera’s native token service (HTS), across various blockchains. Furthermore, the dataset facilitates the study of smart contracts, decentralized finance (DeFi) trends, and Hedera's network growth over time.
The Hedera Foundation stated in its release on X that "Hedera’s inclusion in BigQuery public datasets allows developers, analysts, and enterprises to query the full transaction history of the Hedera network alongside other leading blockchains."
This integration was developed using open-source frameworks, and all ETL scripts are publicly available, fostering transparency and community involvement. This approach ensures the dataset is shared and can be easily updated in the future. BigQuery will maintain the data with ongoing network changes and data format improvements. Developers and researchers are also encouraged to contribute to the dataset through its open-source repository.
HBAR Price Surge Following Integration Announcement
In the wake of the announcement, HBAR, the native token of the Hedera network, experienced a significant surge, reaching $0.19. This represents a 9.53% increase over the preceding 24 hours. Trading activity also saw a substantial boost, with trading volume climbing 130% to $483 million. This price movement has propelled HBAR into the top 20 cryptocurrencies by market capitalization.