The Graph – GRT
If Google indexes the web, who will index the Blockchain?
Let me introduce to you, The Graph
It’s only right that we take a deep dive…
This is a Project Review on GRT.
In 2018 The Graph was founded by three entrepreneurs, Yaniv Tal, Jannis Pohlmann and Brandon Ramirez and at the end of 2020 they launched The Graph mainnet.
The Graph is a decentralised open-sourced protocol used for indexing and questioning data from various blockchains aiming to produce the fastest, cheapest and most reliable way to access data from the world of Web3.
TheGraph scans and collects blockchain data before grouping the information into a variety of open APIs (Application Programming Interface), called ‘Subgraphs’ which allows any DApp to send a query to the protocol and get an instant response.
Over 651 Subgraphs have launched for popular DApps such as Sushiswap, Decentraland, Uniswap, CryptoPunks and many others. DApps use the language built by Facebook, called ‘GraphQL’,.
GraphQL queries Subgraphs to retrieve data which is then indexed on the network. Facebook originally used the GraphQL language to gather data for users’ news feeds.
Data is an important aspect of technology that should be easily accessible, secure and reliable.
Put simply, blockchain data is very complex. If users/developers want to find specific information stored within the blockchain, it would require processing every transaction that has ever occurred on the network…
At this time, The Graph is only compatible with The Graph Network and Ethereum, however, it is currently in beta testing with $NEAR and EVM-compatible blockchains such as Polygon, Avalanche, Fantom, BNB Chain and many more!
The Graph network has 4 types of users:
-Developer- For app developers looking to deploy a Subgraph. Requires specific technical skills.
-Indexers- are Node Operators of the network which stake $GRT tokens to help index and query processing services. Some technical skills.
-Curator- Curators play one of the most important roles as they are able to view network data to make signalling decisions. These are sent to ‘Indexers’ which are then processed and indexed. Requires Web 3 knowledge and some technical skills.
-Delegator- Delegators are users who participate in the network by delegating $GRT tokens to ‘Indexers’, without running a node.
All users play a key role in keeping the network healthy and secure and for that, they are issued $GRT tokens for providing the services they do.
At the time of writing, $GRT is sitting at a price of $0.078 with a market cap of over $684M. The Graph token has seen an all-time high of $2.88 back in February 2021 and has seen an incredible market cap of $5.7B!
Twitter – @GraphProtocol
Website – https://thegraph.com/en/
That’s it! Thanks for reading! Have a look at our Guides section for more!
If you’re interested in learning more about Web3 and getting free crypto alpha, be sure to follow me on Twitter – @AltCryptoGems.