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I am interested in facilitated decentralised ownership of smart meter data by putting it on a blockchain of some description. Would it be possible to do this through the ETH network? Obviously it would not be viable to be putting millions of data points per second on the current proof of work network but when it switches to proof of stake this might be feasible? I saw this question about storing GPS data where the answer said it would cost 2 cents per datapoint. It would need to be ~10k times cheaper than this to make smart meter data storage viable.

That then brings up the next question: how would you query time series data? Let's say I want to get access to my consumption data between July 2017 and August 2017. Is there an efficient way to perform this query (via indexing) or would I literally have to step through the entire transaction tree?

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It's completely possible. Since the EVM is turing complete, you can do almost anything you want. Of course, as you point out, storing millions of data points per second is unrealistic for proof of work. However, that is also infeasible with proof of stake. Proof of stake will likely bring the cost of use down, but it wont bring it down the number of orders of magnitude needed for millions of datapoints a second.

But, if the network became cheap enough to store all the data, you could query it. Though to query that much data, you'd probably have to run your own full node. Instead of storing the data in the contract itself, you'd probably send it to the contract and instead of having the contract save it to state, just log it with events. Nodes can index topics of log events so you can query it that way.

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