StreamingFast has become a significant player in indexing on Binance Smart Chain, and they recently secured a huge grant to continuing building fast and reliable indexes and graphs.
A Brief Introduction
StreamingFast recently found itself in the spotlight after helping the decentralized exchange (DEX) PancakeSwap build out its analytics and info webpage. PancakeSwap, which sometimes has more transactions on their DEX than the entire Etheruem network, hosted a prize reward of 150K to any developer team who could help them build and create the analytics and info page.
StreamingFast won the prize money after successfully providing PancakeSwap with exactly what it needed. The developer team is now receiving praise from the crypto community for their ingenuity and intuitive method of solving PancakeSwap’s dilemma.
The Origins of StreamingFast
StreamingFast is a group of developers who work primarily within the Binance Smart Chain. Their goal is to provide value by offering data tools and solutions to analytic problems that face developers. The StreamingFast team confirmed in an interview with Binance.org that it is composed of talented developers with a highly successful historical track.
StreamingFast was founded by serial entrepreneurs who have had previous success together with six different companies, notably PasswordBox, which sold to Intel in 2014. The team strives to adhere to a strict core value of being the“most straightforward, fastest, and most reliable blockchain data stream in the industry for real-time as well as historical data.”
The company is also composed of sophisticated software engineers with expertise in cybersecurity, data, and blockchain. Together they combine their team’s different knowledge and experience to provide robust data solutions for those in need, such as PancakeSwap.
Primarily for Binance Smart Chain
StreamingFast is a powerful team dedicated to providing blockchain analytic and data solutions to dApps on the Binance Smart Chain. The team told BSC Matthew that it was a “no-brainer to focus our efforts there” and that the team hopes to emulate the network’s speed with their data solutions. Their open-source approach is mainly responsible for building a considerable amount of infrastructure for streaming blockchain data, even allowing for multi-chain use by developers and users.
Millions of users have migrated to the Binance Smart Chain and with so many users and transactions, following and collecting data becomes a problem. This explosive growth brought demand for data and indexing of the transactions and overall graph technology for the ecosystem. StreamingFast saw this as an opportunity to provide value with its highly developed data stream. The team became critical in the growth of delivering multi-chain services as well.
In the case of Pancakeswap, a good way to conceptualize StreamingFast is to think of them like bounty hunters. Pancakeswap needed help fixing their data analytics, so they called in for special reinforcements to build the required blockchain infrastructure. StreamingFast were the extra support needed to solve the blockchain problem at hand.
StreamingFast Secures Massive Grant
The team had a significant development in their work recently. On June 17th, they secured a $60million grant from The Graph Foundation. The grant is the first of its kind and a major step for blockchain indexes. They became the second core development team alongside Edge&Node for the Graph Foundation, a leading non-profit in the open-source development of graph technology in digital ecosystems.
In an interview with Venture Beat, cofounder of Edge & Node Tegan Kline explained how the Graph is an index of blockchains that will migrate relevant application programming interface from StreamingFast. The grant is also dedicated to buying some of StreamingFasts intellectual property but is intended to allow the utmost autonomy. Kline described it as an acquisition without the regulatory rigmarole.
With this quasi-acquisition, they will still work independently, but users should come to find their work on The Graph. StreamingFast’s successful track record shows that their quality indexes and graphs should reference all those in the Binance Smart Chain ecosystem.
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.
BSC NEWS is a private news network. All posts posted by this user belong 100% to bsc.news All rights are reserved to BSC NEWS for more information about BSC NEWS contact BSC NEWS HERE.