Key Takeaways
- The Graph Network reached 1.95 billion monthly queries in July 2024, an 11x increase from the previous year.
- Subgraphs on The Graph’s decentralized network grew to over 9,000, a 361% increase from Q1 2024.
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The Graph Network reached 1.95 billion monthly queries in July 2024, an 11-fold increase from July 2023. This growth follows the network’s transition to a decentralized structure, part of the “Sunrise of Decentralized Data” initiative launched in October 2023.Subgraphs on the decentralized network have grown to over 9,000, a 361% increase from Q1 2024. The Graph officially deprecated its free hosted service for subgraphs on June 12, pushing decentralized applications (dApps) to decentralize their data pipelines.
“One of the most rewarding journeys in the past year has been empowering the Edge & Node team to fully upgrade The Graph’s hosted service to the decentralized network. It’s been incredible to watch each individual teammate rise to the occasion, setting in motion the worldwide data autonomy movement,” Tegan Kline, CEO of Edge & Node, stated.
The Graph Network now supports over 60 blockchains, offering developers lower costs and competitive syncing times. Future plans include enhancing subgraphs and expanding to serve more user data needs beyond subgraphs, aiming to build a unified Knowledge Graph for decentralized, verifiable data.
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