SQD vs Alchemy

SQD vs Alchemy: read-side infrastructure or node provider?

Validated at ingestion · 225+ chains, one endpoint · SLA · sub-second

Alchemy is a node provider. It gives you raw JSON-RPC, one chain at a time, metered by the call. SQD is the read-side infrastructure layer that sits above nodes: a decentralized network that delivers validated, multi-chain raw data from a single endpoint. Same source data, less stitching, no per-chain integration burden. Alchemy's managed indexing product (Subgraphs, sunset December 8, 2025) is now directed at Goldsky.

Try the Portal Read Docs

Pick SQD if

→ You need multi-chain data, validated at source, from one endpoint and one contract
→ You're tired of stitching multi-chain integrations on top of per-chain node fees
→ You need indexing, not just nodes (the workload Alchemy Subgraphs used to serve)
→ You want open source, SLA-backed, self-hostable infrastructure

Pick Alchemy if

→ You need transactional RPC: eth_call, eth_sendRawTransaction, mempool access
→ You rely on the enhanced NFT, token, or wallet APIs and don't want to build them
→ You're already integrated with Account Kit, Embedded Wallets, or Smart Contracts

Two different layers

Where SQD and Alchemy sit in your data stack

Alchemy is a node provider. It runs nodes for you and exposes JSON-RPC plus higher-level NFT, token, and wallet APIs. SQD is read-side infrastructure: the layer above nodes that delivers validated, multi-chain raw data at the source. Wallets, intelligence tools, protocol analytics, and indexed-data vendors all need the same upstream input. SQD serves it as a decentralized network so downstream teams stop stitching it themselves.

Apps & products

Wallets Tax Payments KYC RWA
Intelligence
Protocol analytics
Indexed data

The Graph
Our focus
Read-side infrastructure

SQD decentralized, validated, multi-chain at source
Node providers

Alchemy·

SQD optimizes for

✓Validated raw data at source: one endpoint, 225+ chains, decoded on the wire
✓Multi-chain in one contract, not per-chain fees that stack up
✓Sub-second hot path with SLA-backed enterprise Portal deployments
✓Traces on >50% of EVM mainnets, state diffs on ~1/3 of networks, included
✓Open source (Portal AGPL-3.0, SDK GPLv3) and self-hostable

Alchemy optimizes for

✓Managed JSON-RPC nodes on 50+ chains with global edge routing
✓Transactional RPC: eth_call, eth_sendRawTransaction, mempool access
✓Enhanced REST APIs for NFTs, tokens, and wallet activity (built-in)
✓Webhooks, Account Kit, Embedded Wallets, Smart Contracts tooling

What changes, what stays

Where SQD replaces Alchemy, and where you keep both

SQD doesn't replace your node provider for the write path. It replaces the integration burden of stitching multi-chain read data on top of nodes you rent. Most teams running on Alchemy today are doing both: paying for nodes and spending engineering cycles to pull, validate, and join the chain data their product needs.

SQD replaces

→Per-chain Alchemy node contracts for read-heavy data extraction
→In-house indexers, ETL, and joining logic across chains
→Alchemy Subgraphs (sunset Dec 2025) for custom indexing
→Bespoke validation and reorg-handling code on top of raw RPC
→The Alchemy Trace API surcharge on chains where you need traces

You keep Alchemy for

→Live state reads (eth_call, eth_getStorageAt)
→Transaction broadcast (eth_sendRawTransaction) and mempool
→Enhanced NFT, token, and wallet REST APIs if you use them out of the box
→Account Kit, Embedded Wallets, dApp frontend infrastructure

The matrix below breaks each row down dimension by dimension. Every claim is cited in Sources.

At a glance

Side-by-side comparison

Dimension	SQD	Alchemy
Where it sits in the stack
Layer	Read-side infrastructure	Node provider
Architecture	Decentralized network of workers	Managed hosted nodes
Data validation	Validated at ingestion (6-step cryptographic checks)	Raw, unchecked
Coverage
Networks supported	225+	50+ across all products
Multi-VM support	EVM, Solana, Substrate, Bitcoin, Hyperliquid	EVM, Solana, Bitcoin, Aptos, Sui, Starknet
Substrate / Polkadot	✓	✗
Multi-chain endpoint	One endpoint, all chains	Per-chain endpoints, per-chain fees
Read-side data API
Read interface	Streaming HTTP (NDJSON), 225+ chains in one endpoint	Standard JSON-RPC + enhanced REST APIs
Historical + real-time in one call	✓	✗
Traces on EVM mainnets	>50% of EVM mainnets, included	Available on select chains as Trace API
State diffs	~1/3 of networks, included	Limited / per-chain
Zero egress fees	✓	✗
Latency on hot path	Sub-second; SLA-backed	Good but variable
Live state reads (eth_call) / tx broadcast	✗	✓
Decoded NFT / token / wallet APIs	Build via Squid SDK	Built-in enhanced APIs
Indexing
Custom indexing product	✓	✗
Indexer framework	Squid SDK (TypeScript)	None (migrate to Goldsky)
Architecture & openness
Self-hostable	✓	✗
Open source	Portal AGPL-3.0, SDK GPLv3	✗
Decentralized network	✓	✗
Economics
Pricing model	Predictable monthly tiers, network-based	Compute units: $0.45/1M (≤300M), $0.40/1M after
Multi-chain pricing	One contract, all chains	Per-chain fees stack up
Enterprise SLAs	SLA-backed enterprise Portal deployments	Enterprise plan with signed SLAs

Facts verified May 2026 against Alchemy's public docs and product pages. Every cell value is cited in the Sources section at the bottom of this page.

Decision framework

Choose based on what you're building

When SQD is the better choice

→You're building anything that needs multi-chain raw data: a wallet, a tax tool, a compliance feed, a payments rail, an RWA platform.
→You're tired of stitching Alchemy node contracts together per chain and paying the integration tax in engineering time.
→You need data validated at the source, not raw and unchecked.
→You need indexing, not just nodes (the workload Alchemy Subgraphs used to serve, sunset Dec 2025).
→Your roadmap includes Substrate parachains, Hyperliquid, or chains beyond Alchemy's 50+ list.
→You want open source, SLA-backed, self-hostable infrastructure for production deployments.

When Alchemy is the better choice

→You need the write path: tx broadcast, mempool, signed transactions.
→You need live-state reads (eth_call) for dApp frontends or wallets at request time.
→You rely on the enhanced NFT, token, or wallet REST APIs and don't want to build them.
→You're already integrated with Alchemy's ecosystem (Account Kit, Embedded Wallets, Smart Contracts).

Most production teams use both: Alchemy for the node layer, SQD for the read-side data layer above it.

If you came from Alchemy Subgraphs

Migrating off Alchemy Subgraphs to SQD

Alchemy discontinued its Subgraphs product on December 8, 2025 and now directs customers to Goldsky. SQD is the indexer-first alternative. The porting path is the same shape as migrating from any subgraph-based stack.

Language

AssemblyScript → TypeScript

Subgraph mapping logic translates line for line into idiomatic TypeScript. Full type inference and npm packages.

Programming model

Per-event handlers → batch processor

Process batches of blocks instead of single events. Fewer round-trips to the database, easier to reason about.

Deployment

Hosted-only → SQD Cloud, Docker, self-host

No vendor lock-in. GraphQL schemas port over largely as-is.

Read the SQD docs for the current migration guide and step-by-step examples.

The full SQD toolkit

What you get with SQD

SQD ships four products that share the same underlying data lake. Pick the layer that fits your workload.

Product	What it does	Best for
Portal API	Sub-second multi-chain query API	Real-time apps, trading, agents
Squid SDK	TypeScript indexer framework	Custom data products, GraphQL APIs
Pipes SDK	Streaming ETL pipelines	Warehouses, analytics, batch loads
SQD Network	Decentralized data lake	Open access, no vendor lock

225+

Chains, one endpoint

27ms

Median Portal response

6-step

Validation at ingestion

+215 more

Frequently asked questions

Is Alchemy an indexer like SQD?

No. Alchemy is primarily an RPC provider with enhanced APIs for NFTs, tokens, wallet activity, and webhooks. Alchemy previously offered a managed subgraph product (acquired from Satsuma), but Alchemy Subgraphs was sunset on December 8, 2025. Today, Alchemy directs customers needing custom indexing to Goldsky. SQD is a purpose-built indexing and decoded-data platform.

What happened to Alchemy Subgraphs?

Alchemy Subgraphs was discontinued on December 8, 2025. Per Alchemy's own product page, all subgraph and query endpoints were shut down and existing customers were directed to migrate to Goldsky within a 30-minute migration path. Source: alchemy.com/subgraphs.

Can I use Alchemy and SQD together?

Yes, and many teams do. Alchemy is well-suited to read/write RPC traffic, transaction broadcasting, and the enhanced wallet/NFT/token APIs. SQD is well-suited to custom indexing, historical query workloads, and decoded multi-chain data. The two complement each other: RPC at the read/write edge, SQD at the analytics and indexing layer.

How does Alchemy pricing compare to SQD?

Alchemy prices by compute units (CUs): the free tier includes 30M CUs/month at 25 req/s, then $0.45 per 1M CUs up to 300M and $0.40 per 1M CUs thereafter. Each API call consumes a variable number of CUs depending on complexity. SQD's Portal has a free public tier with no API key or card; paid tiers are predictable and network-based rather than metered per call. Final SQD pricing has not been published; for indexing-shaped workloads that scan large historical ranges, fixed monthly pricing is more predictable than per-CU metering.

Does Alchemy support the same chains as SQD?

Alchemy's Node API documentation lists 50+ chains across EVM (Ethereum, Base, Arbitrum, Polygon, Optimism, Avalanche, BNB, and many L2s), plus select non-EVM (Solana, Bitcoin, Aptos, Sui, Starknet). SQD covers 225+ networks including the same EVM set plus Substrate parachains and Hyperliquid native data. Polkadot ecosystem chains are supported on SQD; Alchemy does not list Substrate-based networks in its Node API documentation.

Is SQD a drop-in replacement for Alchemy?

For indexing and decoded historical data, yes. For raw RPC needs (eth_call, transaction broadcast, mempool access), no. Many teams choose SQD when they need to index custom chain events and serve decoded historical data, and keep an RPC provider (like Alchemy or another) for read/write transaction operations. They serve adjacent layers of the stack.

Does SQD provide EVM trace API and real-time blockchain data?

Yes to both. SQD Portal exposes EVM trace data on more than 50% of EVM mainnets as part of the standard endpoint, not an add-on. The same endpoint serves real-time blockchain data with a sub-second hot path from chain head, so trading desks, intelligence customers, and AI agents can read fresh chain state without separate live and historical providers. Alchemy offers a Trace API on select chains as a higher-tier add-on and splits historical archive access from live RPC; SQD ships both behaviors in one streaming HTTP endpoint across 225+ networks.

Sources & methodology (15 citations, verified May 2026)

Every comparison cell and statement about Alchemy is anchored to Alchemy's own public documentation. Spotted something stale? Let us know.

Alchemy product scope

Alchemy Subgraphs sunset on December 8, 2025; users directed to Goldsky [alchemy.com/subgraphs]
Enhanced APIs cover NFTs, tokens, wallets, webhooks (not custom indexing) [alchemy.com/docs/chains]
No self-hosted tier offered (managed hosted only) [alchemy.com/pricing]

Chain coverage

Alchemy Node API lists 50+ chains across EVM and select non-EVM (Solana, Bitcoin, Aptos, Sui, Starknet) [alchemy.com/docs/reference/node-supported-chains]
Alchemy directory lists 63 blockchains across product surface [alchemy.com/dapps/top/blockchains]
SQD covers 225+ networks [/chains/ catalogue]
SQD multi-VM: EVM, Solana, Substrate, Bitcoin, Hyperliquid [/chains/ catalogue]

Pricing

Alchemy free tier: 30M compute units/month at 25 req/s [alchemy.com/pricing]
Alchemy Pay-as-you-go: $0.45/1M CUs first 300M, then $0.40/1M CUs [alchemy.com/pricing]
Alchemy Pay-as-you-go launched February 1, 2025 [blog.alchemy.com]
SQD free public Portal (no API key, no card) [/portal/]

SQD Portal

Portal: streaming HTTP API, 225+ networks, zero egress, traces on >50% of EVM, state diffs on ~1/3 of networks [/portal/]
6-step cryptographic validation, 27ms P50 / 48.5ms P90 (independent benchmark) [/portal/]
SQD platform overview (Portal, Squid SDK, Pipes, Network) [sqd.dev]
Open source: Squid SDK GPLv3, Portal AGPL-3.0 [github.com/subsquid]

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Move your read-side data to one endpoint

225+ chains in the Portal, open-source SDK, validated at ingestion, SLA-backed for production.

Try the Portal Read Docs

Migrating from Alchemy Subgraphs at scale, or need a dedicated portal? Talk to sales.