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Upcoming Subsquid ICO (SQD) Is Trending. Why’s That?

Upcoming Subsquid ICO (SQD) Is Trending. Why’s That?

Subsquid ICO is in the spotlight currently, introducing the Subsquid Network. The latter is a decentralized data lake and query engine designed to revolutionize data access. This promising project seeks to establish a neutral, open internet rooted in Web3 principles.

Decentralized Query Engine: A Paradigm Shift

The Subsquid Network distinguishes itself as a groundbreaking decentralized query engine specifically tailored for batch retrieval of extensive data volumes. Currently, it serves historical on-chain data from 100+ EVM and Substrate networks. Moreover, it encompasses transaction receipts, event logs, traces, and per-transaction state diffs.

Complementary Products Redefining Possibilities

Squid SDK – Empowering Developers: The Squid SDK, crafted in Typescript, emerges as a pivotal tool for developers. It delivers powerful batch indexing capabilities while eliminating the need for an archival RPC. Additionally, this toolkit efficiently retrieves data from the Subsquid Network, simplifying the data extraction process for diverse applications. Subsquid Cloud – Simplifying Deployment: Subsquid Cloud stands out as a hosted service, offering a foundation for bespoke indexers and GraphQL APIs. It simplifies deployment processes and manages resource allocation, thereby delivering an effortless experience for developers. Subsquid Firehose – Enhancing Adaptability: Subsquid introduces the Firehose, a streamlined adapter for executing subgraphs on the Subsquid Network without requiring an archival RPC node. This addition boosts flexibility, meeting the varied requirements of different applications.

SQD Token Sale: A Key Milestone

As the momentum builds, the Subsquid ICO is gearing up for its token sale scheduled from January 18 to January 19, 2024. The SQD token, an ERC20 digital token, will be available at a token price of 1 SQD = 0.094 USD. With a fundraising goal of $5,030,000, this ICO presents an opportunity to be part of a groundbreaking project. The team plans to issue a total of 1,337,000,000 tokens. However, only 39.9% will be available for the token sale.

Unleashing the Power of Subsquid Network API

The Subsquid Network API currently provides access to raw event logs, transaction data (with receipts), execution traces (for selected networks), and state diffs (for selected networks). Supporting all major EVM and Substrate networks, it is poised to become a pivotal tool for developers seeking diverse blockchain data.

Two Deployments, One Identical API

Furthermore, Subsquid offers two deployments: a production-ready private cluster and a decentralized, permissionless network currently in the testnet phase. Despite the deployment differences, the user-facing API remains identical. This commonality ensures seamless utilization for historical blockchain data older than 6-24 hours in high volume or filtered form.

Practical Use Cases and Tools

Example Use Cases for Direct API: The direct API of Subsquid Network finds applications in real-time scenarios, especially for app-specific APIs. The Squid SDK seamlessly syncs with the Subsquid Network, allowing for a quick transition to real-time data. Those with existing subgraph indexers also have the option to run them against the network. Squid SDK: The Squid SDK emerges as a powerful Typescript toolkit for building indexers on top of Subsquid Network. Offering high-level libraries, ergonomic tools for decoding and normalizing raw data, and pluggable data sinks, the SDK empowers developers to build custom APIs and low-cost, high-performance in-house data pipelines. Subsquid Cloud: Simplifying Deployment: Serving as a Platform-as-a-Service, Subsquid Cloud facilitates the deployment of Squid SDK indexers. With features like zero downtime migrations, provisioning of high-performance RPC endpoints, and intuitive deployment management, it promises to simplify the development process.

SQD: A Future of Possibilities

As the Subsquid ICO unfolds, the Subsquid Network and its associated products present a promising future for blockchain developers and enthusiasts. With its decentralized query engine, complementary tools, and upcoming token sale, Subsquid seems poised to redefine data access and contribute to the evolution of Web3 principles. The digital token SQD holds the key to unlocking the full potential of this groundbreaking project.

The post Upcoming Subsquid ICO (SQD) Is Trending. Why’s That? appeared first on FinanceBrokerage.

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