According to the latest blog post, SubQuery Network, a leading web3 data indexer, teamed up with Agoric, a smart contract developer, to enhance the web3 developers’ experience on the Cosmos network. This partnership is set to help the platform build innovative products with fast queries, accelerating the transition from Web2 to Web3.
SubQuery Enhances The Cosmos Ecosystem
The Cosmos Network, a decentralized ecosystem comprising various interconnected blockchains, has been shaping the blockchain infrastructure. As it continues to grow, attracting developers and projects from around the globe, the need for efficient data indexing and querying becomes crucial.
In a significant development, SubQuery has officially extended its comprehensive support to Agoric. This collaboration aims to empower Agoric developers by harnessing SubQuery’s robust data indexing capabilities, thereby streamlining on-chain data management and query processes. The ultimate objective is to accelerate development cycles and pave the way for welcoming the next billion users into the blockchain ecosystem.
Now, developers engaged in building applications on the Agoric blockchain have access to SubQuery’s versatile, high-speed, decentralized data indexing solution. This integration equips blockchain developers with essential tools to efficiently oversee and query on-chain data for a wide range of protocols and applications.
SubQuery’s contribution to this partnership will ensure the complex backend operations, providing developers with a customized API. This empowerment allows developers to dedicate their efforts to product development and enhancing user experiences, all while eliminating the need for resource-intensive indexing solution construction.
Dean Tribble, CEO of Agoric OpCoAgoric Team, said, “Our commitment lies in equipping developers with top-notch tools and services, enabling them to construct, deploy, iterate, and scale their applications seamlessly. Welcoming another multi-chain indexer to our ecosystem brings us immense joy, as developers can now harness the prowess of SubQuery to spearhead innovative applications within the Agoric domain. We are excited to pioneer the future of web3 application development.”
The Need For Fast Data Indexing For Smart Contracts
The importance of fast data indexing for smart contracts in the Web3 market is crucial because:
- Real-Time Decision Making: Smart contracts are self-executing agreements that rely on data inputs to trigger actions automatically. Fast data indexing ensures that these contracts can respond to real-world events in a timely manner. Whether it’s executing a trade on a decentralized exchange or triggering a payment based on an external data source, the ability to access and process data quickly is essential for smart contracts to function effectively.
- Efficiency: Fast data indexing reduces the latency between when data is generated and when it’s available for smart contracts to use.
- Scalability: Web3 applications powered by smart contracts are experiencing rapid growth. Fast data indexing is essential to support this scalability. It allows blockchain networks to handle a larger volume of transactions and data without compromising on speed or performance.
- Innovation: Fast data indexing opens the door to innovative use cases for smart contracts. It enables applications that require real-time data, such as prediction markets, decentralized autonomous organizations (DAOs), and supply chain management systems.
Agoric is seamlessly integrated into SubQuery’s high-level enterprise-managed service, a robust infrastructure capable of hosting enterprise-grade solutions and seamlessly managing hundreds of millions of daily requests. SubQuery simplifies custom API creation, offers developer flexibility, and ensures speedy data indexing. It enhances control for infrastructure management and promises to maintain its managed service, all while optimizing data processing for faster development cycles.