Blockchain ETL Short Guide

Learn how to utilize it for your project

Author

Daniel Yavorovych
June 06, 2023

Hi there, Daniel is on the air!

I hope this email finds you well. The topic of Blockchain Extract, Transform, and Load (ETL) is personally exciting for me since we had rich experience participating in establishing Blockchain ETL for Google.

Blockchain ETL has emerged as a powerful tool that enables organizations to extract data from blockchain networks, transform it into a more usable format, and load it into analytical systems. Its’ benefits are attractive and promising:

  • It’s an open-source solution that gives you an opportunity to launch ETL processes in both batch and streaming modes.

  • Blockchain ETL lets you work with various databases (BigQuery, PostgreSQL, Amazon Athena), upload data in pub/sub format, and export it anywhere.

  • It gives you the ability to build your own analytics from scratch using custom solutions.

All these features can lead to improved decision-making, compliance, high-quality auditing, and enhanced operational efficiency for the whole project.

But on the other side…

Every blockchain rose has its ETL thorn

Luckily, today we have a wide range of solutions to tackle these problems.

ETL tools for your blockchain garden

As you might guess, the custom solution is always the best, because it’s tailored to your needs. And it might be not the most expensive solution.

The practice case of blockchain ETL

Nansen.ai hired Dysnix to develop, implement, and support a reliable, autonomic, and secure infrastructure for the specific ETL needs of the blockchain analytics platform. A high level of security was an essential point of the request.

Nansen needed a fail-safe and highly secure deployment for the Ronin blockchain validator node with secure private key storage. It must keep all functions and be as fast as possible.

So, in this case, the ETL task sounds like this: “Let us take everything we need from the blockchain without being accessible."

The final solution plan included the following elements:

The most important outcomes we get:

✅ Fail-proof secured infrastructure meeting ETL needs: The access to the nodes is completely controllable and can’t be changed from the internet. Still, they are 100% seamlessly functioning.

✅ Performance optimization of nodes: We decreased the processing time of 1-day Ronin blockchain info from 6 hours to 15 minutes for created archive nodes.

If you feel eager to know what happened before we found the solution, welcome to read the full Nansen case

The true power of blockchain data is closer than you thought

Embracing Blockchain ETL can unlock valuable insights and help your organization stay ahead in the evolving digital landscape. By addressing common challenges through specialized tools, cloud solutions, and strategic partnerships, you can harness the true potential of blockchain data and drive innovation within your organization.

What complexities did you experience with blockchain ETL? 📩 Tweet me :)

Thank you for reading Web3 Talks. We’ll discover the wonders of Transaction Simulator in the following email. Stay tuned!

Best regards, Daniel