What is The Graph? All information about this protocol

The Graph is an indexing protocol for querying networks like Ethereum and IPFS. Anyone can build and publish open APIs, called subgraphs, making data easily accessible. The Graph is considered a solution to make querying blockchain data easier and more efficient. In this article, let's find out what is The Graph and what problems it solves with Market247.io.

What is The Graph?

The Graph (GRT) is a decentralized protocol that allows indexing and querying of data from the blockchain. The Graph powers many applications in the DeFi and Web 3.0 ecosystem. Thanks to its querying and indexing features, The Graph is considered the Google of the Blockchain network.

The Graph helps organize Blockchain data and makes it easier to access. At the same time, the platform allows any user access to build and publish subgraphs.

What problem does The Graph solve?

One of the advantages of Blockchain technology that is widely recognized is transparency. The fact that Blockchain contains a lot of useful data is undeniable, but querying to find special data is not a simple matter. It is for this reason that there are many analytical tools that can derive useful insights from blockchain data. However, a huge drawback of these applications is that they are centralized and take a very long time to develop.

For users, they are not too concerned with whether the application is centralized or decentralized. What users really care about is the solution that is simpler, easier to use and cheaper.

Aware of the existing problems, The Graph was born with the purpose of supporting the above applications. The Graph can be considered as a fat data layer in the Blockchain ecosystem.

What is The Graph's solution?

After realizing the problem, the question is what is The Graph’s solution to solve the above problems?

The Graph has built an accessible protocol for all users to build APIs (aka Subgraph). These Subgraphs make it easier to access Data from Blockchain. The Graph takes data from the blockchain network and organizes it in a unique structure. The retrieval is applied according to the GraphQL method, which is used by many large corporations in the world such as Facebook, Pinterest,...

All data will be encrypted, stored and processed on On-Chain. Through the API, The Graph system makes querying data fast, reliable and secure.

What are the components inside The Graph?

Indexers: These are the people who mine the nodes in The Graph's network and do GRT staking. The main task of the indexer is to index and process queries. At the same time they will earn query fees and inflation rewards. These people will compete with each other to provide the best services at the lowest prices.
Curators: Subgraph developers. Curators will signal which APIs should be queried. At the same time, Curator will perform staking on the Bonding Curve to announce each specific Subgraph.
Delegator: These are people who want to participate in the security process for The Graph network, but they don't have too much coding knowledge to become Curator or Indexer. These people can delegate their GRT tokens to indexers to share in the rewards received.
Consumers: These are the end users of The Graph system. End users use the data query services provided by Indexer, this fee will be divided in advance for the 3 components mentioned above. Consumers can be developers or projects that wish to query data from the blockchain for their applications.

Information about GRT token

To understand deeper into what is The Graph protocol, we will explore information about GRT - Token used in this ecosystem.

Basic information

Token Name: The Graph.
Ticker: GRT.
Blockchain: Ethereum.
Contract: 0xc944e90c64b2c07662a292be6244bdf05cda44a7
Token type: Utility.
Token Standard: ERC-20.
Total Supply: Not fixed.
Circulating Supply: 4,715,735,200 GRT.
Total Initial Token Supply: 10,000,000,000 GRT with 3% annual inflation.

Token Allocation

Community: 35%.
Early Team & Advisors: 23%.
Early Backers: 17%.
Backers: 17%.
Edge & Node: 8%.

What is GRT Token used for?

The Graph token (GRT) is the native token used in The Graph ecosystem. GRT tokens are used for the following purposes:

Query Fees: GRT tokens are used as user-paid fees for Indexers, Curators, and Delegators.
Network Inflation Reward: This reward is divided among Indexer, Curator and Delegator based on the number of GRT tokens they stake.
Protocol Sinks & Burns: A portion of the query fees are burned periodically, expected to start at around 1% of the total protocol query fee and subject to change in the future.
Development team, investors

Team of The Graph

Conclusion

Above is a complete overview of what is The Graph. Hopefully through this article, you have gained more useful knowledge. Don't forget to follow Market247.io's channels to stay up to date with the latest news from the crypto market. If you have any questions about what is The Graph (GRT), don't forget to comment down below for a timely response.

Follow The Graph:

Reddit: https://www.reddit.com/r/thegraph
Twitter: https://twitter.com/graphprotocol
Telegram: https://t.me/GraphProtocol
Website: https://thegraph.com/en/

What is The Graph protocol - FAQs

Who owns GRT Crypto?

The Graph protocol was launched in July 2018, co-founded by Brandon Ramirez, Yaniv Tal and Jannis Pohlmann. As of January 2019, The Graph has provided a hosted service with over 2,900 subgraphs for Web3 and DeFi applications.

Is GRT built on Ethereum?

GRT is an ERC-20 coin on the Ethereum blockchain, used to allocate resources across the entire The Graph ecosystem.

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