Funding Announcement
On a bright Thursday, Subsquid, the groundbreaking query node framework for Substrate-based blockchains, made waves by announcing it has raised a whopping $3.8 million in a seed funding round led by none other than Hypersphere Ventures. What does this mean for the blockchain world? Buckle up, folks!
The Next Big Thing in Blockchain Indexing
So, what’s the plan for all this cash? According to Subsquid, they’re setting out to develop a revolutionary blockchain indexing solution. Imagine a world where accessing blockchain data is as easy as scrolling through your social media feed. This new technology leverages a network of indexers—think of them as the worker bees—allowing anyone to hop on board and contribute their data. It’s a community effort, folks!
Sounding Off from Subsquid’s Founder
“We are looking forward to rolling out more functionalities in the coming weeks, allowing blockchain developers to harness Subsquid’s next generation technology and take DApps to a new level of speed and functionality.” – Dmitry Zhelezov
In what sounds like a teaser for the next big summer blockbuster, Subsquid’s technical founder, Dmitry Zhelezov, shared his excitement about the new functionalities on the horizon. We can practically hear the developers sharpening their pencils, ready to draft the next generation of decentralized applications (DApps).
Key Players in Investment Round
Besides Hypersphere Ventures, the seed round attracted a host of noteworthy participants. Companies like Zeeprime, the Illusionist Group, Zeitgeist, Chainflip, Astar Network, Dia Data, DFG, and 0x Ventures joined the fray—talk about a star-studded lineup! These investors clearly see potential in Subsquid and are eager to jump on the blockchain indexing bandwagon.
A Look Ahead: Launch Timeline
Mark your calendars! Subsquid plans to unveil their innovative indexing technique come February 2022. Aiming for efficiency, the network will cleverly separate indexing from the data retrieval process, promising to enhance speed and user-friendly experiences. The company believes this decentralization will revolutionize the way blockchain users access information—faster than you can say “scalable solutions.”
Why Indexing Matters
Let’s get a bit serious for a moment. Indexing is incredibly crucial in the blockchain realm. It organizes all data, transactions, and smart contracts, making them easy to use and retrieve. Unfortunately, most existing technologies are stuck in a centralized system that is burdened with issues like security concerns and scalability problems. Subsquid’s fresh approach may just offer the solution the industry has been waiting for.
In closing, if Hypersphere Ventures’ excitement is anything to go by, we are entering a thrilling chapter in blockchain technology. With Subsquid at the helm of indexing innovation, who knows where the decentralized internet will take us next?
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