According to the latest blog post, SubQuery Network, a leading Web3 data indexer, collaborated with Agoric, a smart contract developer, to improve the experience of Web3 developers on the Cosmos Network. This partnership aims 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 consisting of several interconnected blockchains, has shaped the blockchain infrastructure. As it continues to grow and attract developers and projects from all over the world, the need for efficient data indexing and querying becomes crucial.
In a major development, SubQuery has officially extended its extensive support to Agoric. This collaboration aims to empower Agoric developers by leveraging SubQuery’s robust data indexing capabilities, streamlining on-chain data management and query processes. The ultimate goal is to accelerate development cycles and pave the way for welcoming the next billion users into the blockchain ecosystem.
Agoric, a JavaScript-based Proof-of-Stake blockchain within the Cosmos ecosystem, is specifically designed to simplify the creation of web3 applications for web2 developers.
Now developers involved in building applications on the Agoric blockchain can access SubQuery’s versatile, fast, decentralized data indexing solution. This integration provides blockchain developers with essential tools to efficiently view and query on-chain data for a wide range of protocols and applications.
SubQuery’s contribution to this partnership will take care of the complex backend operations, providing developers with a tailor-made API. This empowerment allows developers to devote their efforts to product development and improving user experiences, while eliminating the need to build resource-intensive indexing solutions.
Dean Tribble, CEO of the Agoric OpCoAgoric Team, said: “Our commitment is to equipping developers with best-in-class tools and services, allowing them to build, deploy, iterate and scale their applications seamlessly. Welcoming a new multi-chain indexer to our ecosystem brings us immense joy, as developers can now leverage the prowess of SubQuery to lead innovative applications within the Agoric domain. We are excited to be a pioneer in 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 input to automatically trigger actions. Fast data indexing allows these contracts to respond to real-world events in a timely manner. Whether executing a transaction on a decentralized exchange or triggering a payment based on an external data source, the ability to quickly access and process data is essential for smart contracts to function effectively.
- Efficiency: Fast data indexing reduces latency between the time data is generated and the time it is available for use by smart contracts.
- Scalability: Web3 applications powered by smart contracts are experiencing rapid growth. Fast data indexing is essential to support this scalability. It enables blockchain networks to process a greater volume of transactions and data without sacrificing 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-performance enterprise-managed service, a robust infrastructure that can host enterprise-grade solutions and seamlessly manage hundreds of millions of daily requests. SubQuery simplifies the creation of custom APIs, provides flexibility for developers, and ensures fast data indexing. It improves control over infrastructure management and promises to maintain managed service while optimizing data processing for faster development cycles.