Subsquid’s integration with Flare paves the way for greater innovation and collaboration in the blockchain ecosystem.
Flare Network, an EVM smart contract platform, has announced its collaboration with Subsquid, a full-stack blockchain indexing solution to make historical data stored on the Flare blockchain readily available to developers utilizing the Subsquid network.
Subsquid: A Game-Changer for Blockchain Data Access
Subsquid is a full-stack blockchain indexing solution equipped with an open-source Software Development Kit (SDK), specialized data lakes designed for on-chain data, and a hosted service. Its mission is to empower developers to build Decentralized Finance (DeFi) based applications by granting them seamless access to a wealth of historical on-chain data via Subsquid’s distributed data lake.
What sets Subsquid apart is its commitment to the principles of decentralization and accessibility. The platform operates as a repository for structured and unstructured data, currently housing data from over 5,000 projects. Impressive as this may be, Subsquid’s data lake processes a staggering 30 billion requests, aiming to become the largest decentralized data lake in the Web3 ecosystem.
Central to Subsquid’s offering is its open-source SDK, which features a highly customizable ETL (Extract, Transform, Load) query stack. This stack is immensely beneficial for indexing blockchain events, transactions, and traces. Developers can use the SDK to build bespoke data pipelines and Application Programming Interfaces (APIs) that retrieve data from the Flare ecosystem.
Another key advantage of the Subsquid SDK is its ability to make external API calls. This means that developers can aggregate data not only from Subsquid’s data lakes but also from Flare APIs, further expanding their access to valuable historical data.
Hugo Philion, Co-Founder and CEO of Flare expressed his enthusiasm for Subsquid’s open-source approach, saying:
“As we look to provide developers with the best possible tools, we have been very impressed with Subsquid’s commitment to an open-source approach and the speed of the indexing system they have built from the ground up.”
Flare and Subsquid to Unlock the Potential of Decentralized Data Access
Subsquid’s integration with Flare paves the way for greater innovation and collaboration in the blockchain ecosystem. By bringing Flare into its decentralized data lake, Subsquid now serves as a data provider in the ecosystem, facilitating rapid and permissionless data retrieval for developers without the need for an archive node.
A senior executive from Subsquid expressed excitement about this collaboration, stating, “We are thrilled to bring Flare into our decentralized data lake, serving as a data provider in the ecosystem and enabling developers to rapidly and permissionlessly retrieve data from the network without having to use an archive node.” Both parties express their anticipation for multiple developer engagement initiatives, highlighting their shared commitment to driving innovation and accessibility in the blockchain space.
As they collaborate and continue to enhance data accessibility, users can expect to see a flourishing ecosystem of dApps and solutions that leverage the power of historical data for the benefit of all. The future of blockchain development has just become even more promising.
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Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.