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!
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.