, 2022-12-25 12:00:00,
1.The challenge for modern blockchain data stack
There are several challenges that a modern blockchain indexing startup may face, including:
- Massive amounts of data. As the amount of data on the blockchain increases, the data index will need to scale up to handle the increased load and provide efficient access to the data. Consequently, it leads to higher storage costs, slow metrics calculation, and increased load on the database server.
- Complex data processing pipeline. Blockchain technology is complex, and building a comprehensive and reliable data index requires a deep understanding of the underlying data structures and algorithms. The diversity of blockchain implementations inherits it. Given specific examples, NFTs in Ethereum are usually created within smart contracts following the ERC721 and ERC1155 formats. In contrast, the implementation of those on Polkadot, for instance, is usually built directly within blockchain runtime. Those should be considered NFTs and should be saved as those.
- Integration capabilities. To provide maximum value to users, a blockchain indexing solution may need to integrate its data index with other systems, such as analytics platforms or APIs. This is challenging and requires significant effort placed into the architecture design.
As blockchain technology has become more widespread, the amount of data stored on the blockchain has increased. This is because more people are using the technology, and each transaction adds new data to the…
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