San Francisco – The Graph Network, a leading decentralized data platform, has achieved a monumental milestone, clocking 1.95 billion monthly queries in July 2024, reflecting an 11x growth year-over-year. Alongside this remarkable increase in usage, the number of subgraphs—essentially indexes of blockchain data—has surged to over 9,000, a 361% rise since Q1 2024.
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This rapid growth follows The Graphs bold transition from its hosted service to a fully decentralized network, a crucial shift spearheaded by Tegan Kline, CEO of Edge & Node. Known as the “Sunrise of Decentralized Data” initiative, this move toward decentralization launched in October 2023 and was solidified by the official deprecation of the hosted service on June 12, 2024.
A Bold Step Toward Full Decentralization
The shutdown of The Graphs free hosted service marked the end of an era and the beginning of a new chapter for developers and dapps, empowering them to decentralize their data pipelines. This transition ensures that data is now more autonomous, uncensorable, and free from the control of centralized entities. The initiative represents a major victory for the Web3 community and its core principles of permissionless access and verifiable data integrity.
Tegan Kline, who has driven the vision of decentralization since taking on the role of CEO at Edge & Node, reflected on the progress:
Watching the Edge & Node team come together to fully transition The Graph‘s hosted service to the decentralized network has been one of the most fulfilling experiences. It’s been incredible to see the team rise to the occasion, driving the global movement for data autonomy. The significant surge in query volume on the decentralized network highlights the demand for secure, reliable, and censorship-resistant data sourced from a decentralized infrastructure.
Tegan Kline
Growth Fueled by the Web3 Ecosystems Demand
The Graph Network‘s decentralized infrastructure now supports over 60 blockchains, offering developers access to more affordable data and faster syncing times. The growing reliance on The Graph’s network points to the increasing demand for decentralized data across the Web3 ecosystem. As subgraphs continue to evolve, they will play a critical role in enhancing the querying experience, driving efficiencies, and incorporating new data sources.
In an era where regulatory pressures loom large, The Graph‘s commitment to decentralization shows that it’s possible to uphold Web3s founding principles without compromising on performance. The transition stands as a testament to how decentralized solutions can scale and thrive, even in the face of external challenges.
Looking ahead, The Graph is setting its sights on expanding beyond its core service of subgraphs. With support from Edge & Node, the team is working to build a unified Knowledge Graph—a global, decentralized repository of data that will serve both humans and AI agents. This ambitious vision aligns with The Graphs mission to create a decentralized, verifiable, and easily accessible source of data for the internet of the future.
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About The Graph
The Graph is a pioneer in decentralized data, providing the foundational infrastructure for Web3s data needs. Since its inception in 2018, The Graph has grown into the primary method for indexing and accessing blockchain data, with developers building tens of thousands of subgraphs across 50+ blockchains including Ethereum, Arbitrum, Polygon, and Avalanche. The Graphs decentralized protocol enables verifiable, scalable, and permissionless access to data, ensuring it can meet the demands of the future Web3 landscape.