Leverage the Power of Apache Flink to analyze the Bitcoin Blockchain

The hadoopcryptoledger library has been enhanced with a datasource for Apache Flink. This means you can use the Big Data processing framework Apache Flink to analyze the Bitcoin Blockchain.

It also includes an example that counts the total number of transactions in the Bitcoin blockchain. Of course given the power of Apache Flink you can think about more complex analysis applications, such as:

  • Graph analysis on the Bitcoin transaction graph, e.g. to identify clusters or connected components to find out close interactions between Bitcoin addresses
  • Trace money flows through the Bitcoin network
  • Predict power of mining pools, difficulty of block processing, impact of changes on the Bitcoin protocol or rules
  • Join it with other data to make predictions on prices, criminal activity and economics

In the future, we want to work on the following things :

  • Support for other cryptoledgers, e.g. Ethereum
  • Provide examples for analyzing other currencies based on the Bitcoin Blockchain, such as Litecoin and Namecoin
  • A Flume data source to stream Bitcoin Blockchain data directly into your cluster
  • Support selected blockchains provided via the Hyperledger Framework

 

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