Let’s explore the world of decentralized data and how Subsquid is changing the way we think about accessing it.
Decentralization is a key principle in the world of blockchain. However, when it comes to accessing blockchain data, the significant costs of infrastructure and network complexity can be a serious barrier. But what if there was a way to democratize access to data, making it more accessible and cost-effective for everyone? This is where the Subsquid Network comes into play!
First and foremost, Squid is a project that extracts and transforms data on the blockchain to present it in the form of a GraphQL API. Squids are developed using the Subsquid SDK, which provides a comprehensive toolkit for defining data schemas, transformation rules, and the structure of the resulting API. This is not just another project in the world of blockchain. It is a revolution in data access that turns old notions of how we can extract information from the blockchain upside down. By opening the doors to data, Subsquid allows us to see the blockchain from the reverse side.
The main mission of Subsquid:
Democratizing access to data. Subsquid aims to democratize data access, regardless of scale. The latest data compression mechanism and lightweight query mechanism based on the local DuckDB database ensure highly economical access to network data even at the petabyte scale. Thus, the business model of providing data to consumers for free while charging a fixed subscription fee to data-providing networks becomes viable."
The goal of Subsquid is to make blockchain data accessible to everyone. From experienced developers to regular users, anyone can access the information they need. This means that a vast number of projects, research, and innovations become possible, as data is no longer a unique, exclusive resource available only to the “chosen few”.
Subsquid can be compared to the emergence of search engines on the Internet. They made information accessible to everyone, and thanks to this, the world became more informed and innovative. Similarly, Subsquid can become a catalyst for new projects, applications, and research in the world of blockchain.
By uniting various participants in the ecosystem, including data providers, network workers, schedulers, log collectors, reward managers, validators, and users, where each participant plays their role, a seamless data flow is ensured. It is important to note here that it’s not just about earning tokens in isolation, but about the opportunity to participate and contribute to the world of blockchain, making it better!
Conclusion:
In conclusion, it can be said that Subsquid is not just a Web3 indexing protocol, but a step towards the future where data access becomes democratized and cost-effective. It envisions a future where everyone has the opportunity to contribute, explore, and create using data that was previously inaccessible!