Blockchains sees as economies by economists. Blockchains sees as a platform for developing decentralized apps by technologists. Law enforcement agencies are hunting for criminal activity in the blockchain, and entrepreneurs see them as a new means to commercialize their products.
Problem with Data in Blockchain
Every day, millions of transactions and events generate by blockchains. As a result, you must first extract, store, and index data, then provide an efficient mechanism to access it in order to study blockchains for meaningful information. As a result, there are two major issues:
- Cost of infrastructure – You’ll need to be able to access blockchain data in a secure manner before you can construct an app. A user will have to pay for the infrastructure, which is too expensive for developers and start-ups.
- Addition of context — To increase the value of blockchain data, it is necessary to add context. Is a blockchain transaction a regular transaction or a DEX deal, for example? Is it an arbitrage or a standard DEX trade? Businesses may use meaningful blockchain data to solve problems by giving actionable insights.
Overview of the Graph
On top of Ethereum and IPFS, the Graph project is developing a caching layer. Anyone can use The Graph project to develop a GraphQL schema (Subgraph) and establish their own blockchain data APIs. The data is extracted and indexed by the Graph nodes, who then provide you with easy GraphQL APIs to access it.
The Graph’s Solution to the Issue
For a variety of reasons, such as offering APIs for third-party services or delivering additional data to Dapp users to improve UX, developers building decentralized applications (Dapps) must rely on centralized servers to process and index their smart contract data. Dapps, on the other hand, run the danger of having a single point of failure.
Overview of Bitquery
Bitquery is working on a blockchain data engine that will allow users to easily access data from numerous blockchains. You can access any form of blockchain data for more than 30 blockchains using Bitquery’s GraphQL APIs.
Bitquery Solved the Issue
For a variety of purposes, such as studying the network, constructing applications, investigating crimes, and so on, developers, analysts, and businesses all require blockchain data.
To meet any blockchain data demands for various sectors like compliance, gaming, analytics, DEX trading, and so on, Bitquery provides unified APIs for accessing data across several blockchains.
The Graph and Bitquery both heavily rely on GraphQL and allow end-users to query blockchain data in a variety of ways using GraphQL APIs. Why is GraphQL better than Rest APIs when it comes to blockchain data?
Cost of Removing Infrastructure
End-users benefit from both programs since they eliminate the need for infrastructure and instead pay only for what they use.
What’s the difference between Bitquery and The Graph?
Support for Blockchain
Only Etheruem and IPFS are supported by the Graph. Bitquery, on the other hand, is compatible with over 30 blockchains and allows users to query any of them using GraphQL APIs.
Assist with the API
The user can develop a GraphQL schema (Subgraph) and deploy it on Graph nodes using the Graph. Developers can use the standard to access any blockchain data via APIs.
The Unified schema model is used by Bitquery, which means that all of the blockchains it supports use the same GraphQL schema. Bitquery is currently working on extending this schema to include more blockchain data APIs. FlexiGraph, on the other hand, is a tool that will allow anyone to adapt the schema to allow for more advanced blockchain data queries.
Ease of Access
To query the blockchain using Bitquery, learn GraphQL and use the schema. The Graph, on the other hand, requires the user to be able to code because the schema must be deployed if the data required is not available through the common schema.
The Graph is a decentralized data-indexing and curation network made up of Graph nodes. The team respects The Graph’s ambition to decentralize blockchain data access as a fresh one. Bitquery, on the other hand, focuses on developing APIs that allow for multi-blockchain data access that is quick and scalable, as well as querying tools that are helpful.
The technology stack of Bitquery is designed to be both fast and reliable. In addition, the centralized architecture aids in the reduction of latency, response time, and other performance indicators.
It’s a reliable data access network thanks to the graph decentralization approach. The Graph, on the other hand, is still attempting to deliver continuous performance.
The Graph is a project that is completely free to use. Depending on their needs, developers can check the codebase, fork it, or integrate it.
The Bitquery team is also a big believer in open source development and making the tools as open-source as possible.
The data on the blockchain is rich with information, and it’s just waiting for experts to find it. The goals of The Graph project, which intends to decentralize data access to Ethereum and IPFS for developers, are embraced by the team. The Bitquery team, on the other hand, took a different path and discovered the true value of extremely trustworthy multi-blockchain data for both individuals and enterprises.
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