What is happening?
SubQuery intends to provide blockchain developers building applications on the Algorand ecosystem with the first open indexing data standard for querying blockchain data on Algorand. The indexing solution is a decentralised and on-chain query solution that is a flexible, quick and open source solution to organizing and querying layer-1 blockchain data. The SubQuery abstracts the backend and offers a bespoke API that allows developers to concentrate on software development and customer experience rather than creating their own indexing technologies.
https://twitter.com/SubQueryNetwork/status/1547143853832130560?cxt=HHwWgMC-gerIx_gqAAAA
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What is SubQuery Network?
SubQuery is a blockchain developer toolkit that makes it easier to build upcoming Web3 apps. A SubQuery design is a comprehensive API for organizing and querying Layer-1 data. This data-as-a-service, which supports the Polkadot, Substrate, Avalanche, Terra, and Cosmos projects, lets programmers concentrate on their primary use case and front-end rather than spending time constructing a specialized backend for information processor tasks. The SubQuery Network plans to recreate this robust and dependable solution in a decentralized way in the future.
Why Layer-1 Blockchain Needs Big Data Infrastructure Tools
SubQuery's decentralised data crawling and indexing technology is used by programmers developing applications on many layer-1 blockchains to predict future trends better, transactions, volumes and market activity. Querying on-chain data, for example, may help us better analyse the rise in transaction volume on Algorand’s decentralised exchanges.
SubQuery's tools organise, store, and query data from the chain for multi-chain applications. It allows developers to focus on product development and user experience, eliminating the need for specialised servers for data processing.
Data indexing technology that is both agile and adaptive via pre-configured indices makes it feasible to index chains using SubQuery dictionaries. SubQuery manages and stores data without system failure as a blockchain-based decentralised network. SubQuery's integration with the Algorand ecosystem allows web3 applications built on top of Algorand to take advantage of the protocol's data sorting and structuring capabilities for use in future technological and commercial endeavours. This allows for the creation of new web3 applications that take advantage of the rich, abundant data resources and trends to create the best web3 protocols.
Why are Indexing Solutions Important for Algorand?
This creates new opportunities for Algorand developers as there is no need for ground-up coding for data requirements, thus freeing up time and space for innovation. Algorand is able to enhance its capabilities by indexing data as it allows for extensive Dapp development based on a data-driven approach without the bottleneck of developing in-house querying infrastructure.
After the integration of indexing tools on Algorand, the developers building web3 applications will have access to all the tools, documentation and developer support provided by SubQuery allowing for the organization and query of unsorted and unorganized data retrieved from layer-1 blockchains to build web3 applications and business models based on the fundamentals of rich data-driven knowledge pool.
Final Thoughts on SubQuery Indexing Tool Integration
Data management is fundamental to all blockchain and DApp processes. This is one reason why having APIs with open access is crucial to the success of a project. To maintain projects at scale while simultaneously allowing for expansion. These APIs aid in keeping data accessible and secure.
As the DeFi and Tradfi continue to set the pace for the blockchain's next phase of development and acceptance, data requirements will inevitably expand tremendously.
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Image credits: PiggyBank.