Data analytics large Splunk raised $40,000 for charity from 10,000 attendees at its annual convention in Las Vegas final week by gifting everybody an ethereum-based blockchain pockets, in what grew to become showcase for the ability of “big data” merged with blockchain know-how.
Buttercup Bucks (BCB) was the title of the ERC-20 token created to pay for convention swag, actions and donations.
Originally designed by ConsenSys analysis director Austin Griffith, the open-source “burner wallet” merely requires customers to be related to the web and in a position to open an internet browser on their cellular gadgets.
“It gives users the ability to participate without having to jump through all the hoops,” Griffith informed CoinDesk in an interview. “You can get right in and use it first. It’s like a Trojan horse into the decentralized onion.”
Over 2,000 particular person donations had been made to 3 completely different non-profit organizations together with NetHope and Conservation International. The single highest donation of $10,446 was awarded to the human-trafficking consciousness group Global Emancipation Network.
It was donated by Caroline McGee, a cyber engineer for IT firm SAIC, who informed CoinDesk she managed to boost these funds by accumulating different attendees’ unused BCB tokens.
“I was standing at the exit of the conference. I was basically yelling at people to scan my QR code and transfer me their BCB. … There were five people scanning me at a time,” stated McGee, including:
“It was a different mindset. People are hesitant to donate via their credit card especially at a cybersecurity or data science conference because of the potential risks. But because of it being cryptocurrency, there was no question.”
Scaling showcase
Part of the motivation for Splunk to make use of cryptocurrencies on the convention was to indicate the ability of “big data” analytics merged with blockchain know-how, based on Splunk’s blockchain leade, Nate McKervey.
Based in San Francisco, with a market cap on NASDAQ of over $18 billion. Splunk started increasing its conventional product base into the blockchain trade within the first quarter of 2019 by constructing information analytics instruments for platforms corresponding to IBM’s Hyperledger Fabric.
Splunk is presently planning to construct much more blockchain-focused merchandise particularly for the bitcoin and ethereum blockchains, in addition to for different main public cryptocurrencies.
“People say blockchain technology is immature, it can’t scale, doesn’t have good performance or security,” stated McKervey, including:
“We want to show although that’s all true, if you harness the data behind it you can solve all these problems.”
The transaction exercise generated throughout final week’s Splunk convention was tracked and recorded utilizing Splunk’s “Buttercup Bucks Ops Center.”
“They had three full walls of screens solely for [BCB] analytics,” McGee defined.
Splunk’s Ops Center synthesized information about BCB transaction exercise from customers’ cellular gadgets, the convention app, the ethereum blockchain and the xDAI sidechain all in real-time.
(For context, xDAI is a blockchain community pegged to ethereum that’s in a position to course of transactions at sub-second speeds. Normally, on ethereum, transactions take roughly 15 seconds to finish.)
“If things start to get slow and transaction latency goes up a lot, it’s difficult to understand why,” Splunk’s McKervey stated. “Is it the phone network? Is it this lambda function? … The only way to solve transaction speed problems is to have the insight into all the different sources of data.”
Troubleshooting for points on a blockchain software utilizing complete information analytics is one factor. According to Griffith of ConsenSys, the opposite main subject that information analytics can remedy is poor consumer engagement.
Making blockchain enjoyable once more
During the primary deployment of burner pockets on the ethereum convention ETHDenver in February, Griffith stated Splunk constructed an analytics software that would create a phrase map of the general public messages individuals had been attaching to their token transactions.
“We had this great big word cloud of what everyone was saying at the event while they were buying beer,” Griffith stated. “Everybody was having a lot of fun. It was a blast.”
Provoking consumer engagement and selling the consumer expertise is the final word goal of Griffith’s burner pockets.
Viewing Splunk’s iterations to the burner pockets as a step ahead for its open-source improvement, Griffith stated all cryptocurrency merchandise out there as we speak may enhance by pondering extra deeply about consumer expertise and onboarding.
For Splunk, that course of is already starting. While Buttercup Bucks was initially supposed to be a one-off demonstration of blockchain information evaluation, the corporate is now contemplating extending the appliance for wider use instances.
“The feedback we’ve had has been tremendous,” McKervey stated, including:
“Now our community wants us to continue with Buttercup Bucks and we have had other requests to do this at other conferences.”
Splunk 2019 convention picture by way of Twitter / Nate McKervey
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