MAKERDAO: SOPHISTICATED CRYPTO TRADING ANALYTICS
The MakerDAO dApp serves as an excellent source of valuable business data, including cryptocurrency rates, exchange rates, and interest rate fluctuations. This information can be incredibly useful for informed decision-making when organized and presented effectively. Data transportation can be achieved through traditional methods such as APIs or by creating an ETL (Extract, Transform, Load) pipeline. ETL scripts are versatile and powerful tools for gathering, structuring, and displaying blockchain data. To establish an ETL pipeline, one needs a strong understanding of the software environment for executing ETL scripts, as well as databases and blockchain processes. After collaborating with Unicsoft, MakerDAO implemented an ETL pipeline equipped with a web interface that allows users to monitor its performance and create custom reports. This solution helps in extracting data from various sources, transforming it into the desired format, and loading it into the client’s database. The entire process is now automated, requiring minimal involvement from the client.