According to data provided to Cointelegraph on Dec. 15, network growth still appears to be strong for blockchain indexer The Graph (GRT). Launched two years ago, The Graph Network allows developers to easily search, index, use and publish data from public blockchains.
From Nov. 2021 to Nov. 2022, the total number of developers on The Graph (both active and inactive) increased by 145% to 38,000. During the same period, average GRT query fees per month increased by 1,191% to 354,000, while total lifetime GRT queries on the decentralized network increased by 984% to 5.2 billion. Finally, total subgraphs, or proxies for applications, increased by 122% to 641 on the decentralized network in the same period.
Since the network launched, over 200 indexers, 10,000 delegators, and 2,500 curators have been onboarded to the blockchain. Over 500 subgraphs migrated from the original hosted service to the fully decentralized network. It currently indexes data from 39 blockchains, including Ethereum, NEAR, Arbitrum, Optimism, Polygon, Avalanche, Celo, Fantom, Moonbeam, IPFS, Cosmos Hub, and more. The total number of subgraphs has grown from deployed in decentralized applications has grown from 3,800 at launch in Dec. 2020 to 74,000 now.
Commenting on the results, Eva Beylin, Director of The Graph Foundation, stated:
“For The Graph Network’s 2nd birthday it’s incredible to see our Graph Advocates organizing celebrations in their cities around the world. When I think about the growth over the last two years, I’m blown away by the Advocates’ dedication to The Graph’s mission to support web3. This community is inspiring.”