High-performance blockchain network Avalanche has integrated with The Graph’s indexing and querying protocol in a bid to offer developers easier access to on-chain data.
The latest partnership, announced recently, will allow developers building decentralized applications (dApps) on Avalanche to do so without having to run a full node to find pertinent data needed to run their platforms. Instead, they can rely on and query subgraphs (data groupings on The Graph’s network) to get accurate and real-time blockchain data.
The Graph decentralizes access to such data by allowing any network participant to create a subgraph but allowing only indexers with GRT tokens staked to verify and add subgraphs.
Avalanche has become the latest layer-one blockchain to integrate with The Graph, with the latter initially only available to Ethereum developers. The Graph will explore more fruitful partnerships with the goal of giving developers the infrastructure and tooling needed to build DeFi apps.
Avalanche and The Graph Sees Exponential Growth
Since launching its indexing and querying protocol, The Graph has seen over 9000 subgraphs deployed, with the index growing daily. DApp developers are also actively utilizing the subgraphs, with total queries now well above 11 billion.
Avalanche also reports similar meteoric growth, especially following the launch of the Avalanche-Ethereum Bridge in February. The Avalanche-Ethereum Bridge allows dApp developers to migrate tokens unto the Avalanche network and enjoy low fees, as well as near-instant transaction confirmation times.
Per the announcement, transactions on Avalanche have “increased by 2,007% to over 1,140,000, and unique wallets increasing by 2,834% to top 63,000.”
Worth noting is that the underlying fundamental growth means that both projects’ native tokens have yielded substantial returns amid a rallying crypto market.
The Graph’s native token (GRT) is used to incentivize developers to deploy subgraphs on the network and is listed on the popular crypto exchange, Coinbase. GRT currently trades at $2.06 per coin and is up 10% in the last seven days with a $2.5 billion market cap.
Similarly, Avalanche’s token (AVAX) used for paying fees on the network, is up 10% in the last 24 hours, trading at $34.73 with a $4.4 billion market cap.
