Spot On Chain: Leveling the crypto trading playing field with Vertex AI
About Spot On Chain
Spot On Chain is the first AI-powered on-chain analytics platform available on both web and mobile. Combining the capabilities of artificial intelligence and the power of on-chain data, the startup simplifies blockchain data analytics and provides actionable insights for crypto traders of all levels.
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About Cloud Ace
Spot On Chain achieved 90% automation of blockchain reports, improved platform uptime to 99.9% and forged a strategy for image-based AI analysis with Google Cloud.
Spot On Chain achieved 90% automation of blockchain reports, improved platform uptime to 99.9% and forged a strategy for image-based AI analysis with Google Cloud.
Google Cloud results
- Gives timely insight to crypto traders by reducing time for translating reports in eight languages from minutes to seconds
- Enables operational efficiencies through 30% decrease in time required to backfill historical data when adding blockchains
- Supports customer trust and satisfaction by improving uptime to 99.9% from 95%
- Enables real-time analysis at scale through scanning of 20,000 on-chain transactions per second across multiple blockchains
90% automation of blockchain signal reports
Every day, there are millions of crypto transactions per day on major blockchain platforms. Spot On Chain is an on-chain analytics startup that provides crypto traders of all levels actionable insights on movements in the crypto world, empowering them to make confident decisions. Its mission is to simplify blockchain data analysis, thereby leveling the playing field for crypto traders everywhere.
Deploying artificial intelligence (AI), the platform scans every transaction on 12 different blockchains, and generates easy-to-understand signals that enable traders to stay ahead of market trends and make trading decisions with ease. Unlike other blockchain data analytics platforms, Spot On Chain is not just for traders with a high level of technical knowledge, and it is available on web and mobile.
For its data analytics needs, Spot On Chain originally used a combination of one of the major cloud providers, a third-party provider for communicating with blockchains, and one of the main generative AI engines to produce its intuitive signals and reports on crypto market movements. However, it soon began to encounter issues with the complexity of managing such a hybrid environment, requiring significant DevOps intensity to coordinate the separate parts of the architecture. Meanwhile, it encountered scalability issues on its original cloud provider, as well as high costs.
Working with partner Cloud Ace, Spot On Chain decided upon a full-fledged migration to Google Cloud, seeking a fully integrated experience that would yield cost optimizations and performance and scalability improvements. It built an architecture based on Google Kubernetes Engine and Cloud Functions for a fully managed containerized environment and easy auto-scaling, as well as Vertex AI with Gemini 1.5 Pro for its AI analytics needs. Meanwhile, BigQuery served as its autoscaling data warehouse for ingesting data from around the blockchain universe for unlimited auto-scaling data processing.
The results were transformative, according to Tuan Nhu, Founder, Spot On Chain. "By migrating to Google Cloud, we obtained consolidation and efficiency of the whole workflow ecosystem, from our compute needs to artificial intelligence," says Tuan Nhu. "This enabled us to be faster and more nimble in our application of AI to deliver actionable signals to our customers."
"By migrating to Google Cloud, we obtained consolidation and efficiency of the whole workflow ecosystem, from our compute needs to artificial intelligence. This enabled us to be faster and more nimble in our application of AI to deliver actionable signals to our customers."
—Tuan Nhu, Founder, Spot On ChainDriving the future of crypto trading with transformative AI solutions
Vertex AI with Gemini 1.5 Pro is a solution that serves as a one-stop-shop AI service that integrates and streamlines various artificial intelligence and machine learning (ML) capabilities into one unified environment.
With the most advanced version of Gemini, Google's generative AI engine, Spot On Chain deploys the integrated service to generate intuitive, easy-to-use reports on crypto trading. The integrated solution provides Spot On Chain the ability to generate on-chain signals in different languages in a manner that is more accurate and timely than its previous AI setup.
The outcomes have been significant. It automates 90% of the startup's on-chain signal reports, compared to 60% with its previous generative AI solution, freeing up valuable human resources. Additionally, generating reports in eight different languages now takes a mere five seconds, compared to several minutes before. This dramatic reduction in processing time allows Spot On Chain to deliver real-time insights to our users much faster.
Achieving superior operational efficiencies with Google Kubernetes Engine
Spot On Chain migrated its workloads to Google Cloud from a rival cloud carrier, building its architecture on a combination of Google Kubernetes Engine, Cloud Run and Blockchain Node Engine, orchestrating hundreds of containerized nodes, efficiently processing the raw blockchain data. Meanwhile, BigQuery, as the startup's autoscaling data warehouse, then stores the filtered on-chain data and enables the firm to build metrics and models for further analysis. To ensure fast retrieval of frequently accessed information, Spot On Chain leverages Cloud SQL, a managed relational database service.
With such an architecture, Tuan says that Google Cloud has demonstrably improved operational efficiency and productivity. The platform achieved a significant boost in uptime, reaching 99.9% compared to its previous 95%. This translates to fewer disruptions and a more reliable platform. Additionally, Google Cloud's processing power allows it to scan an impressive 20,000 on-chain transactions per second across multiple blockchains, enabling real-time analysis at scale.
Furthermore, integrating with blockchain public datasets from Blockchain Analytics in BigQuery and leveraging skilled blockchain node engineers has streamlined data onboarding. When adding new blockchains, backfilling historical data now takes a mere 30% of the time it previously did. This translates to faster platform updates and quicker access to valuable insights.
"By leveraging the power of Google Kubernetes Engine, Cloud Run and Blockchain Node Engine, we have achieved an architecture that gives us superior ability to transform our crypto objectives into reality," says Tuan.
"By leveraging the power of Google Kubernetes Engine, Cloud Run and Blockchain Node Engine, we have achieved an architecture that gives us superior ability to transform our crypto objectives into reality."
—Tuan Nhu, Founder, Spot On ChainDriving the future of image-based crypto analysis with Vertex AI
Currently, Spot On Chain uses Vertex AI only for creating intuitive text reports for its customers. In the future, the platform plans to deploy it to create image-based intelligence, such as infographics, to represent blockchain metrics in a way that will be easy for users to understand. For example, the platform will be able to feed raw data into Vertex AI to produce image-based reports.
"We anticipate there will be no limit to the creative applications of Vertex AI for our platform in the future," says Tuan. "We look forward to partnering with Google Cloud on ever more exciting AI-based projects that will fulfill our needs for our growing clientele."
"We anticipate there will be no limit to the creative applications of Vertex AI for our platform in the future. We look forward to partnering with Google Cloud on ever more exciting AI-based projects that will fulfill our needs for our growing clientele."
—Tuan Nhu, Founder, Spot On ChainTell us your challenge. We're here to help.
Contact us
About Spot On Chain
Spot On Chain is the first AI-powered on-chain analytics platform available on both web and mobile. Combining the capabilities of artificial intelligence and the power of on-chain data, the startup simplifies blockchain data analytics and provides actionable insights for crypto traders of all levels.
About Cloud Ace
Spot On Chain achieved 90% automation of blockchain reports, improved platform uptime to 99.9% and forged a strategy for image-based AI analysis with Google Cloud.