Hey guys, as I understand it, data analytics (like calculating averages etc) on blockchain data is usually done off-chain (ie. you obtain data from the blockchain via say a third party API call or directly from the blockchain and then do the data analytics off-chain someone else).
Is it possible and/or if it is possible, how do we do data analytics on-chain itself (which I assume would involve doing the data analytics on the smart contract itself)?
Would really appreciate any help or input. Thanks!
why would you want that? It would cost money, a smart contract doesn’t have wide visibility, no storage, …
or maybe I missed the point
If the data analytics (along with storing the data) can be done on-chain in the smart contract itself, then this may perhaps reduce any latencies when the data analytics (along with storing the data) is done off-chain somewhere else (which relies on a different system which may perhaps have latencies).
Yeah this would cost money since a smart contract needs to be deployed.
A smart contract does have wide visibility though because it’s a smart contract deployed on the blockchain, hence it is transparent to everyone.