🦑 Subsquid (SQD) - Revolutionizing Blockchain Data Management 🦑
🚀 Let's dive into key features and potential of #SQD in this captivating thread! 🧵👇
1️⃣ Introduction and Overview: Subsquid (SQD) is a decentralized data indexing and query engine, empowering developers to efficiently access and manage blockchain data from multiple sources. It’s the core of Web3’s new tech stack, providing a fast, cost-effective way to build powerful dApps.
2️⃣ Technology and Feature: Subsquid boasts a modular architecture secured by ZK proofs, ensuring scalability and convenience for blockchain indexing, dApp development, and analytics. The SQD token is integral, streamlining and securing network operations in a permissionless manner.
3️⃣ Whitepaper Analysis: Subsquid addresses scaling, storage, and data retrieval challenges in Web3. It offers a solution for querying and aggregating blockchain data, designed to be infinitely scalable, permissionless, and trust-minimized. The SQD token rewards node operators, curates participants, and facilitates governance.
4️⃣ Use Case: The SQD token rewards node operators and facilitates the curation of network participants and protocol governance. By locking SQD tokens, data consumers can increase rate limits, enhancing their data access experience.
5️⃣ Team and Leadership: Subsquid is led by co-founders Marcel Fohrmann and Dmitry Zhelezov, who have been instrumental in bringing Subsquid to market and onboarding hundreds of worker nodes.
6️⃣ Partnerships: Subsquid has confirmed its SQD token listing on several tier-one crypto exchanges, bolstering its presence in the crypto ecosystem.
7️⃣ Security and Audits: While specific security audits aren’t detailed, Subsquid emphasizes a reliable, censorship-resistant, and impartial ledger, ensuring data integrity and security.
8️⃣ Tokenomics: SQD is an ERC-20 protocol token with a total supply of 1337 million SQD and circulating supply of 161.40 million SQD. Its tokenomics are designed to ensure a reliable and impartial blockchain ledger.
9️⃣ Exchanges: SQD tokens are listed on major exchanges like Gate.io, Bybit, KuCoin, CoinList, and MEXC Global, providing wide accessibility and liquidity.
🔟 Recent Developments: Subsquid recently launched its SQD token, backed by $17M in venture funding, and get listed on multiple crypto exchanges in May 2024, enhancing its blockchain indexing services.
1️⃣1️⃣Conclusion: Subsquid is a promising project in the Web3 ecosystem, offering a decentralized solution for blockchain data management. With its recent token launch and exchange listings, Subsquid is poised to make significant strides in the crypto space.
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