As the blockchain ecosystem continues to expand, the challenges of storing, querying, and retrieving data become more complex. Here are four key trends shaping the web3 data segment:

Data Availability for Ethereum Scalability

Data availability is crucial for validators in the Ethereum network. Modular blockchains like Celestia and Avail are emerging to address scalability challenges and provide a platform for rollups with lower costs and Ethereum-like security guarantees.

Data APIs vs. Oracles

Decentralized APIs like API3 and Airstack are becoming rivals to oracles, offering transparency, lower costs, and lower latency for accessing on- and off-chain data.

Indexers Simplifying Complexity

With the growth of blockchain data, indexing services like The Graph and Subsquid are essential for developers to access data from multiple chains and sources seamlessly.

Inscriptions Launches on Bitcoin

The launch of Bitcoin Ordinals enabled data to be inscribed into BTC units, creating a significant buzz in the community. However, smaller networks may see diminishing returns from inscription launches, leading to new challenges.

These trends highlight the innovation and competition in the web3 data segment, providing developers and users with more choices and opportunities for growth. Explore more news on Global Crypto News for the latest updates.

“Necessity is the mother of innovation, and the web3 community is rising to the challenges.”

Author: Marcel Fohrmann, Co-founder and CFO of Subsquid

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