CandleFocus The Graph Soars with 1.95B Monthly Queries: A Year of Explosive Growth & Decentralization
2024-09-17
Author: Content Editor
The Graph Network, a decentralized data platform, has experienced significant growth in usage and the number of subgraphs. The network achieved 1.95 billion monthly queries in July 2024, an 11x increase from the previous year. The number of subgraphs has also surged to over 9,000, reflecting a 361% rise. This growth follows The Graph's transition from a hosted service to a fully decentralized network, with the shutdown of the hosted service marking a shift towards empowering developers and dapps to decentralize their data pipelines. The move towards decentralization aligns with the principles of the Web3 community, offering secure and censorship-resistant data. The Graph's decentralized infrastructure now supports over 60 blockchains and aims to build a unified Knowledge Graph in the future.
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