Query the Bitcoin blockchain

The financial industry is extremely data-heavy and relies on real-time and historical data for decision-making, risk assessment, fraud detection, and market analysis. Timescale simplifies management of these large volumes of data, while also providing you with meaningful analytical insights and optimizing storage costs.

In this tutorial, you use Timescale to ingest, store, and analyze transactions on the Bitcoin blockchain.

Blockchains are, at their essence, a distributed database. The transactions in a blockchain are an example of time-series data. You can use Timescale to query transactions on a blockchain, in exactly the same way as you might query time-series transactions in any other database.

This tutorial covers:

1. Ingest data into a service: set up and connect to a Timescale Cloud service, create tables and hypertables, and ingest data.
2. Query your data: obtain information, including finding the most recent transactions on the blockchain, and gathering information about the transactions using aggregation functions.
3. Compress your data using hypercore: compress data that is no longer needed for highest performance queries, but is still accessed regularly for real-time analytics.

When you've completed this tutorial, you can use the same dataset to Analyze the Bitcoin data, using Timescale hyperfunctions.