The data analytics giant, Splunk, raised $ 40,000 for a charity event from 10,000 attendees at its annual conference in Las Vegas last week by offering everyone a portfolio based on an Ethernet channel, what has become the showcase of the power of big data merged with the technology of the chain.

Buttercup Bucks (BCB) was the name of the ERC-20 token created to pay for gifts, activities and conference donations.

Originally designed by Austin Griffith, research director at ConsenSys, the open source "burner portfolio" simply requires users to be connected to the Internet and can open a web browser on their mobile devices.

"This gives users the opportunity to participate without having to go through all the steps," Griffith said in an interview with CoinDesk. "You can enter it and use it first. It's like a Trojan horse in the decentralized onion. "

More than 2,000 individual donations were made to three different non-profit organizations, including NetHope and Conservation International. The largest donation of $ 10,446 was donated to Global Emancipation Network, a global awareness group on human trafficking.

It was given by Caroline McGee, a computer science engineer from the computer company SAIC, who told CoinDesk that she had managed to raise these funds by collecting unused BCB tokens from participants.

"I was standing outside the conference. I was screaming for people to scan my QR code and transfer me their BCB. … There were five people watching me at once, "said McGee, adding:

"It was a different state of mind. People are reluctant to donate via their credit card, especially at a conference on cybersecurity or data science, because of potential risks. But as it is a cryptocurrency, there was no doubt. "

Showcase of scale

One of the reasons that motivated Splunk to use cryptocurrency at the conference was to show the power of Big Data analysis merged with blockchain technology, according to Nate McKervey, Channel Chain Manager. for Splunk.

Based in San Francisco, with a market capitalization of over $ 18 billion on the NASDAQ. Splunk began extending its traditional product base to the block chain business in the first quarter of 2019 by developing data analytics tools for platforms such as IBM's Hyperledger platform.

Splunk is currently considering creating even more blockchain products, especially for bitcoin and ethereum blocks, as well as other major public crypto-currencies.

"People say that blockchain technology is immature, that it can not evolve, that its performance and security are bad," McKervey said, adding:

"We want to show that even if all of this is true, if you exploit the data in it, you can solve all these problems."

The transaction activity generated during last week's Splunk conference was tracked and recorded using theButtercup Bucks Ops Center. "

"They had three walls of screens only for analysis (BCB)," McGee explained.

The Splunk Operations Center synthesized BCB transaction activity data in real time from users' mobile devices, the conference application, the blockchain ethereum, and the xDAI side chain.

(For the context, xDAI is an Ethereum-bound blockchain network capable of handling transactions at a speed of less than one second, normally on Ethereum transactions take about 15 seconds.)

"If things start to slow down and the transaction latency increases a lot, it's hard to understand why," McKervey said. "Is it the telephone network? Is this lambda function? … The only way to solve the problems of speed of transactions is to have an overview of the different sources of data. "

Troubleshooting problems encountered on a blockchain application with the help of a complete data analysis is one thing. According to Griffith of ConsenSys, user involvement is another major problem that data analysis can solve.

Have fun again

In the first deployment of the Engraver portfolio at the ethereum ETHDenver conference in February, Griffith said that Splunk had developed an analysis tool to create a Word map of public messages that people attached to their transactions. chips.

"We had this big cloud of words about what everyone was saying when buying beer," said Griffith. "Everyone was having a lot of fun. It was an explosion. "

The ultimate goal of the Griffith Engraver Portfolio is to engage users and promote the user experience.

Considering that the Splunk iterations on the engraver's portfolio were a step forward for its open-source development, Mr. Griffith said that all cryptocurrency products available on the market could be improved by thinking more deeply about the future. 39, user experience and integration.

For Splunk, this process is already starting. Although Buttercup Bucks was originally designed to be a point-in-time demonstration of blockchain data analysis, the company is now considering extending the application to larger use cases.

"The reactions we had were great," said McKervey, adding:

"Now our community wants us to continue with Buttercup Bucks and we have had other requests to do so at other conferences."

Picture of the Splunk 2019 conference via Twitter / Nate McKervey

Join the Binance global trading platform

Leave a Reply

Your email address will not be published. Required fields are marked *