Understanding the Aggregation of Data In SubQuery Network
SubQuery Network is a decentralized data system created to receive and transmit data via the blockchain in a highly efficient and accessible way. SubQuery operates on the Polkadot ecosystem and is used for a variety of applications including mobile and web apps, in addition to webhooks and integrations with other blockchains.
The SubQuery Network Team
There are quite a number of people and organizations behind the scenes that are involved in the SubQuery Network. First and foremost the team directly involved on the frontlines is led by Sam Zou, an entrepreneur and investor with over 20 years experience in the realm of IT for the purpose of infrastructure and cloud service design. Following alongside Zou in the journey is Ian He, the CTO and blockchain arhitect that has been involved in polkadot-js contributions.
In addition to the active team on the project itself, the SubQuery Network hasT been given tremendous support by partners and investors alike. Some of the early investors include D1 Ventures, The Lao, Wintermute, the Web3 Foundation, IconPlus Capital, and much more. Some of the other supporters for SubQuery Network include Arrington Capital, Digital Currency Group, and Hypersphere, among many others.
What is the SubQuery Network?
The concept behind blockchains are very simple – while many blockchains like Bitcoin simply rely on bringing value in a P2P network and thus being an exclusive commodity to the people that use it, other blockchains need specific data in order to operate at peak functionality. The biggest issue with using blockchains to perform data operations, it needs to fetch data. There have been many attempts to fetch data in a way that’s efficient, non-invasive to consumers, or rely on a heavy workload. SubQuery Network is a blockchain based information system that allows data to be retrieved, fetched, sent, and used in a matter that’s easy on users and developers alike.
SubQuery has positioned Polkadot/Substrate as its blockchain of choice.
How Does SubQuery Work?
SubQuery Network, in its most simplistic form, locates and retrieves data from Polkadot and Substrate projects and indexes them in a way that future developers and users can take advantage of them in their everyday development or consumption of applications. There are three main contributors and partitions to the network:
- Consumers: these are network participants that retrieve data that has been placed on the network which have already been indexed for their benefit and use.
- Indexers: for those that actively participate in the network itself, those people can host SubQuery projects in their own infrastructure which allows them to run a SubQuery node and a query service in order to index data for the network based on GraphQL requests.
- Delegators: In contrast to Indexers that help contribute to the network, there are also those that can participate in the network and get rewarded for supporting these Indexers.
The SubQuery Network is also powered by the SubQuery Token (SQT). The token is used for any fundamental participation in the network and a way for contributors to be rewarded. Indexers can also stake SQT as a means to participate in the network.
Who Is SubQuery Network Best For?
With a blockchain that is designed to index data and allow users to take advantage of them for other chains, a project like SubQuery Network is optimal for other projects on the Polkadot/Substrate network or a project with a bridge to network to the data. SubQuery Network is not restricted to projects already on the Polkadot ecosystem, however. Anyone can become a consumer of the network to take advantage of the data.
The Value of SubQuery Network
There is tremendous value in having a project or organization of data for others to take advantage of. One of the biggest companies in the world, Google (known more technically as Alphabet), gathers and indexes data for everyone to benefit. Additionally, many of the top companies in the world offer some sort of data gathering – Amazon, Microsoft, and Apple to name a few. There is a nearly unlimited value in a blockchain project that helps streamline data for others to use on the blockchain.
With any type of infrastructure or foundation, there always needs to be tools to help make the rest of the ecosystem more efficient. SubQuery Network knows there needs to be road builders as much as there should be cars. Proper roadways help make for more efficient transportation, just as a blockchain data index protocol like SubQuery can make for a system that can run faster and more accurately. The project has multiple layers of contributors and the team of SubQuery is backed by a multitude of investors and partners. Upon reflection, all of the elements to excel are there at the table for this network.
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