The Graph Network: Significant Growth and Development
Introduction to The Graph Network
The Graph Network, a prominent blockchain indexer, continues to exhibit significant growth since its launch two years ago. The platform allows developers to effectively search, index, use, and publish data from public blockchains, fostering innovation in the blockchain ecosystem.
Developer Growth and Engagement
From November 2021 to November 2022, the network saw a remarkable 145% increase in the number of developers, both active and inactive, reaching a total of 38,000. This surge indicates a growing interest and confidence in The Graph's capabilities among the development community.
Increase in GRT Query Fees
During the same timeframe, average monthly GRT query fees soared by an impressive 1,191%, amounting to 354,000. This sharp rise reflects the increasing demand for data indexing services provided by The Graph, highlighting its crucial role in blockchain data management.
Surge in Lifetime GRT Queries
The Graph Network's total lifetime GRT queries experienced a substantial 984% increase, reaching a staggering 5.2 billion queries. This growth underscores the network's expanding utility and its ability to handle large-scale data indexing efficiently.
Expansion of Subgraphs
Subgraphs, which act as proxies for applications on the decentralized network, also saw a 122% growth, totaling 641. This expansion signifies the network's enhanced capability to support diverse applications, further solidifying its position in the blockchain industry.
The Graph Network's impressive growth trajectory highlights its pivotal role in enhancing blockchain data accessibility and its potential for continued innovation and expansion.
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