Multibase Streams: Seamless Web3 Data Integration
We're excited to announce the launch of Streams – designed to make onchain data integration into an existing analytics stack feel seamless for Web3 companies.
Having access to reliable and up-to-date wallet data has become increasingly critical in Web3. However, building this infrastructure in-house can be very complex and resource-intensive, taking time away from companies who are solving real problems in the space. That's where Streams comes in.
What is Streams?
Streams is a powerful tool that simplifies the process of indexing, monitoring, integrating, and analyzing onchain wallet data for Web3 companies. This is particularly valuable for companies who have the existing analytics infrastructure in place, but don't want the hassle of building an in-house indexing pipeline themselves.
With Streams, you can pipe decoded and interpreted transactions, logs, traces, or blocks into your existing data warehouse to achieve a unified analytics workspace. This applies to almost any analytics database or service, such as MixPanel, Google Analytics, Segment, Amplitude, S3, BigQuery, Postgres, Clickhouse, and several others we are currently building integrations for.
How Does Streams Work?
Streams works through a simple API integration. Companies can call the Multibase API to send wallet addresses they want to monitor, along with custom identifiers they'd like to attach to those wallets. Multibase then continuously sends all relevant transactions, logs, and traces (internal transactions) to your data warehouse. This indexing process is key to getting an ultra granular view into a given user and how their onchain activity has evolved over time.
One of the key features of Streams is the ability to tag wallet addresses with custom identifiers specified by the client. This makes the data easier to integrate into existing analytics stacks and simplifies querying. For example, you can stitch a user’s Mixpanel User ID to their wallet address, essentially attaching their Web2 and Web3 identities to achieve a 360° of your entire user base.
Multibase can also decode and match onchain data with contracts that have already been tagged. Incoming transactions, logs, and traces are decoded and interpreted according to the Multibase contract database or custom specifications.
Why is Streams Important for Web3?
Having access to reliable and up-to-date onchain data is becoming increasingly critical for companies operating in this ecosystem. However, the process of indexing, monitoring, and integrating this data is complex and resource-intensive, often requiring specialized expertise and infrastructure.
Streams addresses this challenge by providing a seamless and scalable solution for blockchain companies to access and integrate onchain data into their existing analytics systems. By offloading the complexities of indexing and interpretation, companies can focus their resources on building innovative products and services, while still benefiting from the insights provided by onchain data.
How Will Streams Change Onchain Data Collection?
Streams is set to revolutionize onchain indexing by making it more accessible, efficient, and user-friendly. Here are some key ways it will impact the industry:
1. Ease of Use
With a simple API integration, companies can quickly and easily start monitoring wallet activity without the need for complex infrastructure or specialized expertise.
2. Speed
By leveraging Multibase's indexing and monitoring capabilities, companies can access up-to-date onchain data in real-time, enabling faster decision-making and more responsive product experiences.
3. Accessibility
Streams democratizes access to onchain data, making it available to companies of all sizes, regardless of their technical resources or infrastructure.
4. Scalability
As the Web3 ecosystem continues to grow, Streams is designed to scale seamlessly, ensuring companies can continue to access reliable onchain data as their user base expands.
Common Use Cases
Streams has a wide range of potential use cases across various industries within the Web3 ecosystem. Here are a few examples:
1. Decentralized Finance (DeFi): DeFi platforms can use Streams to monitor wallets and transactions, enabling real-time risk assessment, compliance monitoring, and personalized product experiences.
2. Non-Fungible Tokens (NFTs): NFT marketplaces and platforms can leverage Streams to track wallet activity, enabling better user analytics, targeted marketing, and enhanced user experiences.
3. Decentralized Autonomous Organizations (DAOs): DAOs can use Streams to monitor their members’ wallet activity, enabling more transparent governance processes and better decision-making.
4. Gaming & Metaverse: Web3 gaming and metaverse platforms can use Streams to track user activity, enabling better in-game insights, personalized experiences, and more effective monetization strategies.
Conclusion
Streams represents a significant leap forward in blockchain data by making it more accessible and actionable for Web3 companies. By simplifying the complex processes of indexing, monitoring, and integrating onchain wallet data, Streams allows Web3 companies to focus on innovation rather than infrastructure.
As more companies adopt this technology, we expect to see a new wave of data-driven applications and services that push the boundaries of what's possible in the decentralized world. With Streams, we're excited to empower Web3 companies with the tools they need to unlock the full potential of onchain data, driving innovation and growth throughout the blockchain ecosystem.