Evolving Web3: SubQuery Network's Breakthrough: Crafting the Future of Web3

Published December 6, 2023

Today SubQuery unveils the next breakthrough in decentralised data infrastructure. The SubQueryNetwork, initially designed as a decentralised data indexing network, is evolving to solve broader decentralised infrastructure challenges in web3, starting with decentralising and supercharging RPCs. The mission of SubQuery has significantly expanded, andthe opportunity is so much bigger; Today marks a significant progression for web3.

In under three years, SubQuery has evolved into one of the largest and fastest-growing open-source decentralised indexers in web3. With faster data indexing speed, a huge variety of features, and over 115+ networks supported, SubQuery is already powering the applications and analytics workloads of hundreds of customers.

Through this, SubQuery’s mission has always been to innovate Web3 infrastructure so builders can decentralise the future. By pioneering fast, flexible, and scalable decentralised infrastructure, SubQuery aims to power Web3's transition to an open, efficient and user-centric future.

Already today, SubQuery has decentralised data indexers serving production applications on their pre-mainnet. But over the years, the team at SubQuery have discovered that web3 has a dirty little secret - leading dApps are still utterly reliant on centralised data sources and RPC services that are expensive to run and controlled by institutions. This alarming fact sets SubQuery forth on their next phase, a devotion to decentralise the future.

SubQuery starts on this path by decentralising data indexers and RPC providers in a permissionless network of thousands of node providers, simplifying the data layer for a myriad of applications and use-cases.

"Our journey started with a vision to redefine Web3 infrastructure, and today's announcement is a significant leap toward that goal," says Sam Zou, CEO of SubQuery. "The mission for the SubQuery Network has expanded beyond data indexing and begins with super-charging RPCs, we are on the forefront of a breakthrough in web3."

RPCs are the main interface to the blockchain, the foundation of all web3 infrastructure. SubQuery Network will provide payment rails, verification of service, and dispute resolution frameworks to facilitate the decentralisation of these critical infrastructure components. Phase two is all about enhancing RPCs, with implementation of the SubQuery Data Node, a heavily optimised RPC endpoint designed to prioritiseperformance and query scalability. Finally, SubQuery will endeavour to democratise RPCs and solve EIP-4444 in the process, by delivering the Sharded Data Node, making RPCs cheaper to run and operate by all.

The resulting open market for data infrastructure providers and their consumers will bring three benefits. It will maintain low barriers to entry, allowing any node runner to join as a provider for any service on any network. It automatically incentivises performance and cost by rewarding node operators with requests based on these metrics, driving these values across the network. And it will result in the democratisation of services across the web3 ecosystem, since node runners are free to onboard new chains and projects for first mover advantage - constantly expanding the network.

SubQuery believes that this approach can address scalability concerns related to historical data, ensuring data integrity across the network while promoting cost efficient querying and contract calls. This innovation has the potential to contribute to the scaling of Ethereum, layer-2s, and other protocols, fostering greater democratisation and decentralisation of web3.

While SubQuery is currently a leader in offering aggregated and organised data to large web3 dApps, the realisation has dawned that the potential for the network extends far beyond this initial scope. In the next few days we’ll be releasing detailed information on how we are going to achieve this, and how you can join us on this crusade. The mission of SubQuery has significantly expanded, the opportunity is so much bigger, today we’re seeing the dawn of a new era for web3.

About SubQuery

SubQuery Network is innovating Web3 infrastructure with tools that empower builders to decentralise the future. Our fast, flexible, and open data indexer supercharges dApps on over 115 networks, enabling a user-focused Web3 world. Soon, our Data Node will provide breakthroughs in the RPC industry, and deliver decentralisation without compromise. We pioneer the Web3 revolution for visionaries and forward-thinkers. We’re not just a company - we’re a movement driving an inclusive and decentralised Web3 era.

Brittany Seales, Head of Marketing
Company: SubQuery
Location: Singapore

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Release ID: 832805

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