Architecting a blockchain startup with Google Cloud

Key Takeaways

foreign hi everyone I'm Elise Lampman and I am sanskriti patnayak and we're both customer engineers at Google Cloud welcome back to the Tactical series for startups where we are creating a series of videos for technical enablement to help startups to start build and grow their businesses successfully and sustainably on Google cloud in the last video as part of the series we looked at how Google Cloud helps you achieve faster analytical queries on alloy DB today we will discuss how to architect a blockchain startup on Google cloud and how it can help your web3 business grow as blockchain technology becomes more mainstream companies can benefit from a more scalable secure and sustainable infrastructure from which to grow their businesses and support their Networks but blockchain Technologies come with their own challenges ensuring reliable in performance hosting of your blockchain notes speeding up app deployment without compromising security fast and reliable Network performance accessing large volumes of data quickly and ensuring your data stays private and encrypted at all times Google cloud has its own strategy and solutions that will help you address these challenges web 3 companies choose Google Cloud because it's fast and easy to get things with a reduction in infrastructure maintenance custom tooling and operations blockchains consists of transaction data that is permanently stored and encrypted acting as decentralized databases of sorts instead of relying on a central entity to validate and store data the governing infrastructure of a blockchain is a node a blockchain node is a device such as a computer laptop or server that contains a copy of the transaction history of a blockchain nodes on a blockchain from a peer-to-peer Network constantly exchanging the latest blockchain data so that all nodes stay in sync Google Cloud networking and compute engine can help you host blockchain notes on Google Cloud so developers can build decentralized apps or D apps on top of them Dapper Labs the company behind some of the world's most popular d-apps including cryptokitties and NBA topshot was looking for a provider that could handle traffic that Peaks even with Millions joining the network on the flow blockchain as part of flow's multi-node architecture the execution notes demanded high levels of performance to run user transactions as quickly as possible and at large scale bringing low latency access for developers and lightning speeds to Consumer blockchain applications flow runs their nodes on Google's compute engine to ensure increased speed of network and reliable performance with large traffic enabling developers to build decentralized applications at scale as most major public chains have official or community supported Docker containers it becomes natural to start looking at containers and container orchestration to optimize resources simplify operations Auto skill and ensure reliable chains using Google kubernetes engine companies can support new protocols and scale their existing clusters to build a global infrastructure for their web 3 applications modernizing with gke allows for self-healing auto scaling and uptime for nodes validators and staking this allows for a more secure reliable and agile way of developing your blockchain applications need a reliable blockchain infrastructure provider look no further than blockchain a valued customer at partner block demon offers a comprehensive Suite of blockchain solutions including wallet API and node management their platform started as a simple three-click ethereum node launch and has evolved into a whole Suite of cutting-edge Technologies including accessible staking liquid staking MPC Tech and so much more block daemin leverages gke to its full potential by monitoring nodes down to a container level and ensuring that they remain in top condition gk's Innovative Auto Repair feature also takes care of management tasks seamlessly freeing a valuable time and resources for the block demon team and their customers compute engine and kubernetes engine on Google Cloud give you fine-grained control over the geographical region your node is running as of today Google cloud is available in 112 zones across 37 regions additionally to location flexibility with Google Cloud computes you have detailed control over your networking infrastructure including for example firewall rules and IP addressing Google's high performance private Network connects blockchain nodes with high throughput low latency interconnects security and access control are top priorities for us at Google via our identity and access management solution and Key Management Service you can make sure to stay compliant with access roles you give to your users and submit an authorized digital asset transactions using encryption keys and signatures and lastly Google cloud is the cleanest cloud in the industry being carbon neutral since 2007 and with the goal of running our data centers on carbon free energy 24 7 by the year 2030 as announced by our leaders in our sustainability policy roadmap we understand that self-managed nodes are often challenging to deploy and require constant management and time investment which can be especially challenging for smaller teams that want to focus on their Core Business therefore let us introduce you to our recently announced blockchain node engine which is a fully managed node hosting service that can minimize the need for node operations Google Cloud's blockchain node engine can make these processes faster and easier by allowing developers to deploy a new node with a single operation and specify the desired region and network maintenance or test net for instance users can quickly and securely deploy dedicated nodes and minimize the need for node operations blockchain node engine also offers security configurations that help you prevent unauthorized access to your nodes by placing nodes behind a virtual private Cloud firewall only trusted machines and users are able to communicate with client endpoints web 3 companies who require dedicated nodes can relate transactions deploy smart contracts and read or write blockchain data with reliability as Google Cloud actively monitors the nodes and restarts them during outages reducing the need for a dedicated devops team ethereum will be the first blockchain supported by blockchain node engine enabling developers to provision fully managed ethereum nodes with secure blockchain access not just this by the end of 2023 blockchain node engine will be supporting more blockchains so keep a lookout for node engine which will be out in 2023 to speed up and skill your blockchain business reach out via or contact us page to get Early Access now that we have understood how we can set up our infrastructure let's have a look at how we can use Google Cloud's data and AI products to unlock the true potential of your blockchain data meets bigquery our data warehousing solution with large-scale data analytics capabilities in the context of web 3 you can leverage bigquery by applying analytics on the blockchain usually blockchains are open to anyone but hard to make sense of with bigquery your blockchain data is accessible via familiar SQL queries you can now find relevant answers to your questions by querying whatever blockchain data you are interested in you can access blockchain data via our public blockchain data sets as of today 12 blockchains are indexed in bigquery giving you access to full blockchain transaction history data sets these can be for example Bitcoin ethereum Dash and more to explain how bigquery has helped our webkey customers a good example would be nansin an industry-leading blockchain data analytics platform nansin along with Google Cloud provides web 3 investors with high quality real-time Market intelligence allowing customers to discover opportunities such as new to Market tokens and analyze risk through real-time notifications of significant events and Trends in the crypto Arena leveraging Cloud pop sub data flow and bigquery nanson is able to store 60 terabytes of crypto trading data and process five petabytes of data per day which has enabled them to build queries on hot D5 contracts tokens and nfts and provide real-time analytics to their users with Luca Luca studio and bigquery web 3 companies can perform smart contract analysis by combining and visualizing on-chain data with other types of data giving them a rich data-driven ecosystem now instead of talking about all of this let's jump into our Google Cloud console and have a look at what we can use it for in your blockchain apps in this demo we'll make use of bigquery to analyze some of Google Cloud's public blockchain data sets these data sets are available to the public via the marketplace and are updated every 24 hours let's go to the marketplace using the left hand side hamburger menu and search for Bitcoin then let's choose the Bitcoin cryptocurrency data sets by clicking on view data sets we can make use of it directly Within bigquery we can see that this data set contains multiple tables but what does blockchain data actually look like in bigquery for this example let's make use of the inputs table let's run a very simple query in the query editor on this table I will copy paste the query with which we will query for address balances in the data sets let's run this query and after a few seconds we should be able to see the results we can now see that we can obtain a lot of information in almost no time we can see here the addresses and the corresponding balances of these addresses we can do the same for other cryptocurrency data sets just by searching in the marketplace or simply by changing the name of the data allocation in our query this is amazing because we can now gain insight into various blockchain data sets in almost no time just by using SQL we provide various other blockchains and public data sets and here you'll see some of the most popular ones in the second example we can write a very simple query which will aggregate all ethereum transactions by day with this we can get an idea of the transaction volumes of the ethereum blockchain instead of querying the public data set over and over we can also subscribe to them and Stream in live transaction data this can be done with the help of Google Pub sub creating a subscription to the public data set and writing the data into a bigquery table with this you can make use of the public data and create live analysis or even use the streaming data in your own live dashboards blockchain transactions are unique by virtue it is not possible for transactions to exist in multiple blocks but there are few exceptions to this let's uncover these anomalies with our next SQL query this query will make use of the transactions table that is included as part of the Bitcoin data set as a result of this query we can see that there are two transactions found that are duplicated within the blockchain now how is that possible you might think is there an issue with the source data no of course not so what's the catch you Bitcoin was first built with Berkeley DB which can handle non-unique keys after Satoshi Nakamoto left the Bitcoin project a new development team replaced Berkeley DB with level DB level DB cannot handle unique Keys causing the developers to modify the bitcoin's source code by implementing the Bitcoin Improvement proposal even though it's no longer possible for a transaction to exist in multiple blocks there are still a few older transactions where this happened and with the help of bigquery and SQL we are easily able to identify these anomalies we've seen a few examples of how you can do analytics of the blockchain with bigquery but of course there are infinite ways of how you can make use of this data for your purposes whether by gaining insights of transaction data or combining transaction data with any other data set you would like and all of this just by using SQL how cool is that Google cloud has collaborated with various businesses to build powerful and robust blockchain applications and solutions cardia chain one of the leading blockchain infrastructure providers in Vietnam and Southeast Asia aims to help millions of individuals and traditional companies to integrate blockchain to optimize their business Google Cloud's easy setup and seamless Integrations have allowed Guardia chain to accelerate this mission of evangelizing blockchain across Industries with the help of Google Cloud's scalable infrastructure leveraging Google Cloud compute engine and Cloud SQL cardiacchain provides services with highest availability and smooth user experience to businesses across Industries the company has also seen a 27 reduction in their monthly infrastructure cost on adopting Google Cloud we can see how our Solutions help your business build an end-to-end blockchain application with products providing infrastructure to reliably host your blockchain nodes and Powerful data and AI solutions to unlock the true potential of your blockchain data with that we have come to the end of this video all in all we have covered an overview of Google Cloud's web 3 story and how it can help you build your next blockchain startup we dived into Solutions ranging from compute networking security and how our data and AI Solutions can help you do more with your blockchain data lastly we saw a demo and wrapped it up with a customer case study for those who are Keen to learn more please refer to the links in the description box to get additional resources coming up in our next session we'll be covering how to build Innovative machine learning Solutions on Google Cloud we'll start off with an introduction discuss our feature products contact center Ai and document Ai and dive into their technical details we'll also see these products in action with the demo and a customer story please like and share this video And subscribe to the YouTube channel if you haven't already and don't forget to click on the Bell icon to get notified each time we post a new video we hope you are as excited as we are to get on board with this journey hang tight and we see you very soon on the other side foreign [Music]