Extracting and processing Bitcoin transaction data into relational database structures involves numerous technical and conceptual challenges, primarily due to the decentralized and append-only nature of blockchain. This project examines the complex challenges encountered in the process of finding the best methods for processing and potentially integrating data from the Bitcoin blockchain into a relational database suitable for IoT purposes. We perform empirical experiments in order to determine the validity of our findings, by comparing common queryable datasets using both our proposed relational database schema and optimizations, and blockchain-driven methods. We observed large performance gaps between our proposed schema and the alternative Bitcoin queryable databases, and we discuss their impact in real-world scenarios.
