SubQuery, the leading open-source blockchain data processing API, has achieved another milestone via a recent announcement. Data indexing is now available on the Algorand blockchain for the first time. This brings the much-needed edge to developers with no on-chain data foundational infrastructure.
Developers receive end-to-end advantages-Documentation, developer support, open-source SDK access, and entry into the SubQuery Grants Programme. As an added advantage, SubQuery’s enterprise-class free managed hosting service, with a capacity of several hundred million daily requests, is available.
Through its API, SubQuery has created a one-of-a-kind “plug and play ” solution for data within blockchains. This follows the open indexing solutions that have become a mainstay in Polkadot, Avalanche, and most recently, Juno.
It also extends Algorand’s SubQuery’s DeFi and Tradfi capabilities and solves fundamental issues that usually affect decentralized financial infrastructure. Issues such as slippage and smart contract interaction timeouts, and so on. With the ASC-1 (Algorand smart contracts) standard gaining steady ground within the decentralized community, data indexing provides leverage and improves the execution conditions for Algorand DApps.
Why is Data Indexing Important?
Data indexing is the missing link between DApps and blockchains. Layer-1 blockchains have provided the security and stability needed for successful D’App operations. Speed, and flexibility, depend on data indexing and access. Developers often have to build native indexing solutions which burden projects and create a coding workload that paves the way for insecure scenarios. One reason hackers have their way-too much stress on developers.
With SubQuery’s broad indexing capabilities, developers can focus on their native DApps and leave the data issues to a trusted open SDK that can handle the most complicated tasks. As SubQuery’s tokenization process and its public sale unfold (July 21st – 29th 2022), Algorand is poised to take its place in the Layer-1 blockchain space.
This also brings into question the various issues that have plagued DApps-Security, timeouts, inaccurate data feeds, scalability, quick data access, and higher gas fees. These problems and more have slowed adoption and solving them is critical.
As interactions within the space become complicated with greater use-cases and migrations from centralized platforms, data processing volumes shall increase. Being one step ahead of the pack not only ensures smooth experiences for projects but also expands the long-term viability of the decentralized industry.
At a time when critics have pointed to the many failures and mistakes made from day one, SubQuery has enabled an environment where focusing on what matters is the mantra developers can espouse without having to lose concentration on delivering projects-Quickly, on security, ease of use, and innovation.
This is just the beginning.
Source: https://thenewscrypto.com/subquery-jumpstarts-data-indexing-on-algorand/