In the Q4 2023, The Graph ecosystem shipped several critical updates shaping the future of decentralized data, evolving the protocol to serve more data needs and web3 builders in 2024 🚢
Here are some key takeaways from the Q4 2023 Participant Update ⬇️
📊 The Graph Network served 958M queries in Q4, a 65% QoQ growth in volume and, the total number of subgraphs published on the network reached 1,500+.
🌐 The Graph continues to support all web3 use cases. Here are some examples of the many subgraphs on The Graph Network across a variety of web3 verticals: @vela_exchange - DeFi, @SnapshotLabs - Governance, @loopringorg - zk-Rollups, @artblocks_io - NFTs, @RequestNetwork - Streaming Payments, & much more!
💪 In Qr, L2 Transfers exceeded expectations with 83% of staked tokens now on L2, 60% of queries and fees now on L2, and nearly 300 new subgraph creations on L2.
🌅The Sunrise of Decentralized Data began with the Sunray Phase and the launch of the upgrade Indexer, enabling new chains on the network, rapid subgraph updates, and virtually immediate queryability after upgrading subgraphs ⛓️
🗺️ The New Era Roadmap was unveiled, guiding the future of The Graph ecosystem with 5 core objectives: Developer Empowerment, Optimized Indexer Performance, Protocol Evolution and Resiliency, Interconnected Graph of Data, and World of Data Services.
🆕 In the near term, the New Era Roadmap will lead to the introduction of SQL query capability and a SQL data service, File Hosting Service, new micropayment system Scalar TAP and more!
💱 In Q4, work also began on simplified billing and payments to enable a Free Query Plan for free monthly queries on The Graph Network.
🧑💻The Technical Advisory Board, TAB, was launched to team up with The Graph Council and the broader community to create technical plans and guide proposals.
🪄Looking ahead, expect the completion of Sunray (Phase 1 of the Sunrise of Decentralized Data) which includes unleashing new developer benefits like billing innovations and a simplified upgrade experience, followed by the kick off Sunbeam (Phase 2), plus progress on new data services, new chains integrations, and much more!
The Graph's Q4 2023 Participant Update makes it clear: 2024 is The Graph’s year for serving more web3 use cases, organizing and serving more diverse data types, and making accessing blockchain data even more seamless for dapp developers and data consumers 🌟
Don’t miss any of the details. Watch the full update here: