Apparently, when we look at blockchains from a bird-eye view, the data contained in it mirrors the sight of our planet inundated by oceans that are located in different geography with no direct means to access their water bodies. As a result, while exploring from one water-body to another, you need to take a long route forward.
Blockchains, more or less, have been emulating the same impact we see when it comes to accessing oceans on our planet, but lately indexer protocols like the Graph have somewhat optimized the access. However, the flip side to the same is the cost-extensive approach debarring adoption.
In this piece, we shall see how BigQuery and Subsquid could solve the same.
Graph’s Way To Solve Data Query: An Expensive Gateway
The Graph protocol uses Subgraph indexing to query the data. In the process, there’s subgraph manifestation that would trigger events originating across blockchains and map the same with the query. The process is very complex as demonstrated through the image and time and again interaction with the smart-contract for accessing the query might lead to a lot of gas burning. Let’s see how BigQuery and Subsquid are solving the same.
BigQuery's & Subsquid's Way To Solving Data Navigation Across Blockchains Frugally
BigQuery and SubSquid have envisioned two grand approaches to solving data accessibility, because the problem in the blockchains is not data unavailability but access to data availability in a cost effective manner. For that reason, SubSquid is creating one of its kind, a large pool of decentralized data lakes that would be ingesting all the data from the EVM chains and store them in a horizontal fashion so that it can support its own functionality along with partnering with other EVM chains. Any Dapp that wishes to extract data from other chains can connect using the BigQuery as a bridge to extract the data. Using a custom-curated interface, Big Query simplifies data querying without having to interact with smart-contracts and uses Google’s analytical tools to monitor and ease access to data across chains that are using their solutions. As a result, through the use of BigQuery, the blockchain protocols will not have to use bridges like the Graph to connect with multiple protocols and extract data from there.
On the contrary, the protocols can simply extract data from other protocols using BigQuery APIs that help build a unique BigQuery club for all existing and new indexers to communicate via SQLAPIs that can help run complex commands to process, evaluate, refine and serve data sets to all the dapps, whether they are querying it off-chains or on-chains.
As a result, for the first time, the Web 3 developers have the advantage of querying data without having to interact with the smart-contract that would perform the role of searcher and executioner of the data to help keep a track on all the events across the blockchains. The best part is that everything can be done in a truly permissionless manner using Squid Indexers to build everything from scratch.
What Will Be the Impact of Big Query and Subsquid on Web 3?
In the span of just 1 year from 2020 to 2021 during the last bull run, the Graph protocol witnessed 20 billion queries and innumerable amount of fee spends. As we are inching closer to the next bull season. At this point, we are on the verge to witness more than that because the crypto market has grown exponentially. Hence if an application can provide near gasless operations to query the data, in that case, it will be impacting the space in a much better way.
Conclusion
Data is the key in crypto and Web 3 and if we have developed pipelines where all the ecosystems stand united and allow quick access of data in an easy to deploy and build manner, it will be reflecting on the growth of the ecosystem for its greater good. Here’s where VE3 can play a pivotal role, by facilitating seamless data access and integration within the crypto and Web 3 ecosystems. By offering a centralized platform for data aggregation and distribution, we streamline the process of gathering and utilizing valuable insights across various projects and networks. Our expertise in blockchains and infrastructure empower developers to efficiently deploy and scale data-driven solutions, fostering accelerated growth and collaboration within the ecosystem. To know more, explore our innovative digital solutions or contact us directly.
