{"id":9482,"date":"2021-09-08T09:48:57","date_gmt":"2021-09-08T08:48:57","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=9482"},"modified":"2021-09-08T09:49:05","modified_gmt":"2021-09-08T08:49:05","slug":"polkadot-data-protocol-gets-9-million-in-funding-from-subquery","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/polkadot-data-protocol-gets-9-million-in-funding-from-subquery\/","title":{"rendered":"Polkadot data protocol gets $9 million in funding from SubQuery"},"content":{"rendered":"\n
Polkadot initiatives continue to receive increasing funding from blockchain <\/a>venture investors. SubQuery's goal is to deliver network-based data indexing technology.<\/h5>\n\n\n\n
\"Polkadot<\/figure>\n\n\n\n

A $9 million fundraising round for the development of Polkadot's first data aggregation layer has been completed by decentralized data aggregator SubQuery\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, a move that could improve data indexing for the growing interoperability network.<\/p>\n\n\n\n

Specifically, the money will be used to continue developing SubQuery's data indexing infrastructure for all Polkadot and Kusama applications, according to the company's announcement on Wednesday. <\/p>\n\n\n\n

SubQuery further stated that the funding would aid in the expansion of its technological capabilities as well as the support of open-sourcing its software.<\/p>\n\n\n\n

It was led by Arrington XRP Capital with participation from Digital Currency Group and Stratos Technologies. Hypersphere Ventures, NGC Ventures, Wintermute and Skynet Trading also participated in this funding round. <\/p>\n\n\n\n

A private seed round that closed in March of this year raised a total of $1.8 million for SubQuery, which had previously been successful. Among those who contributed to the seed round were DeFi <\/a>Alliance, The LAO, and P2P Capital.<\/p>\n\n\n\n

Creating new markets for data indexing and provisioning is the major goal of SubQuery, which was founded to increase access to blockchain<\/a> data on Polkadot and Kusama. <\/p>\n\n\n\n

It is predicted that SubQuery would eventually become a vital infrastructure for all Polkadot-based parachains and applications, according to Arrington XRP Capital, which invested in the Moonbeam parachain. <\/p>\n\n\n\n

Within the Polkadot <\/a>network, parachains connect to a single main blockchain, providing a concept akin to the hub-and-spoke paradigm found in airports and other transportation hubs.<\/p>\n\n\n\n

The Polkadot ecosystem has gotten a great deal of attention recently, especially since Kusama launched its sixth batch of parachain auctions on September 1. <\/p>\n\n\n\n

The parachain mechanism allows users to vote on projects by locking up Polkadot's native DOT tokens for a specified period of time as a means of assisting their preferred initiatives to get off the ground and become successful.<\/p>\n\n\n\n

Polkadot is a cryptocurrency project that ranks among the top ten in terms of market valuation, with a total market capitalization of over $29 billion. When Bitcoin <\/a>(BTC) had a flash crash this week, the whole cryptocurrency market took a hit, sending DOT's price soaring to nearly four-month highs.<\/p>\n","protected":false},"excerpt":{"rendered":"

Polkadot initiatives continue to receive increasing funding from blockchain venture investors. SubQuery’s goal is to deliver network-based data indexing technology. A $9 million fundraising round for the development of Polkadot’s first data aggregation layer has been completed by decentralized data aggregator SubQuery , a move that could improve data indexing for the growing interoperability network. […]<\/p>\n","protected":false},"author":13,"featured_media":9491,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21,77],"tags":[202,487,4296,870],"class_list":["post-9482","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-polkadot","tag-blockchain","tag-polkadot","tag-subquery","tag-technology"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/09\/image-88.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/9482","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=9482"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/9482\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/9491"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=9482"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=9482"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=9482"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}