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Dune partners with Snowflake to make blockchain data more accessible

source-logo  blockworks.co 27 February 2024 14:15, UTC

Blockchain data analytics platform Dune is partnering with cloud-based data warehouse solution Snowflake to launch Dune Datashare.

Despite raw blockchain data being on-chain and transparent, it is often difficult to interpret or analyze. The complex and fragmented nature of on-chain data can create barriers for businesses and researchers who seek to leverage blockchain data for insights, innovation or competitive advantage.

To address this, Dune Analytics has partnered with Snowflake, a cloud-based data warehouse provider, to streamline access to and analysis of blockchain data. This partnership aims to simplify the consumption of blockchain data by integrating Dune’s data curation capabilities with Snowflake’s data warehousing solutions.

Dune Datashare will be available on Snowflake Marketplace, offering curated crypto data to enterprises and institutions.

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The result is that data scientists, analytics professionals and businesses will gain easier access to a broad array of blockchain data, covering various protocols and blockchain solutions such as Arbitrum, Base, Bitcoin, Ethereum, Optimism and Solana, among others.

“The blockchain is designed to verify information that happens on it, but it is not particularly good at reading what has happened,” Dune Analytics co-founder Fredrik Haga told Blockworks.

However, Dune.com is designed in a way that enables community members to utilize its abstraction layer, Spellbook, to analyze raw blockchain data, which would otherwise be a challenging, lengthy process.

“What we’re coming in and doing is essentially making this data easy to read, then putting it in a database, and we let people come together and curate on top of that,” he said. “We’ve taken away a lot of these low-level concepts and made it a very human-readable straightforward thing which can be compiled into a dashboard.”

Read more: The importance of data and standardization within digital assets

This means that users can easily find information on two different exchanges and create unified logic on top of that data. This can assist traders in making informed trading decisions, for example.

It can also assist users in finding the volume of top-performing protocols that week and identify patterns within what would otherwise be incomprehensible data.

The launch of Dune Datashare will be the first time that institutional-level customers and Fortune 500 companies can interact with this type of data and have it directly integrated into their platforms.

“What we’ve also seen for quite a while is that many institutions and enterprise-type companies also care a lot about this data and are interested in learning about blockchain data and using it,” Haga said. “These players typically have their own data systems, so giving them access to this wave of community contributors is a pretty big deal.”