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What is Graph Coin (GRT)?
The Graph is an indexing protocol created to query Blockchain networks such as Ethereum and IPFS.
The Token sale of the Graph project, which started its quiet work in 2017 and has come a long way in the past 3 years, begins.
The Graph is an indexing protocol created to query Blockchain networks such as Ethereum and IPFS. Anyone can create open APIs called” subgraphs “or” subgraphs " and publish them, making the data easily accessible. The Graph token is the local cryptocurrency of the Graph Platform.
What is the Graph (GRT)?
The Graph is a protocol designed to organize and make blockchain data easily accessible. In this way, the project aims to strengthen many of the most widely used applications in Defi today and the wider Web3 ecosystem. Thanks to the Platform, everyone can create and publish “subgraphs”, open APIs that applications can query with GraphQL. Subgraphs make it easier for developers to build their applications on blockchains. In a simpler way, what Google does for search, the Graph does for blockchains. Just as we can easily access the information we are looking for in the internet universe with Google searches, when the Graph completes its mission, it will be possible to access the information stored on all blockchains in the same way.
According to statements, the graph's service currently provides more than 4 billion monthly queries on applications such as uniswap, CoinGecko and Synthetix for data such as all Ethereum-based token prices, past trading volumes and liquidity outputs. I mean, there's a system already working. This system runs as testnet and is supported by over 200 programmers. Data is currently being processed on a server run by the project. But the graph's mission is not to run this service indefinitely, it is to eliminate the possibility that APIs, servers and databases will become checkpoints. That's why the platform uses an open source Indexer and curator marketplace that works together to efficiently index and present all data for DeFi and Web3 in a decentralized way.
Graph Coin Review
According to the statements, the Graph network will allow applications to run serverless, and applications will become truly unstoppable, as they no longer have to rely on a single server or database. Instead of a single server, applications will have a node network to keep the service running. The Graph network also allows diverse, active participants to generate revenue to provide data services rather than giving that power to data monopolies.
The Graph project, which aims to make the current data economy better with better referrals, more secure data sources, regulated APIs and more impressive querying, will meet with the user later this year.
Looking at the Graph Token economy, it is stated that both technically equipped people and inexperienced people can contribute to the Graph network in various ways. In a project that aims to establish a completely decentralized structure, people can contribute to the development of the project by taking the appropriate position for themselves. These contributions are also awarded with the Graph Token (GRT).
These additive forms can be sorted as follows:
• Indexers: Indexers are node operators in the Graph network that share Graph tokens (GRT) to provide indexing and query processing services. Indexers earn query fees and indexer rewards for their services. In order to be an Indexer, technical information equipment must be at a high level.
• Curators: curators are Subgraph developers, data consumers, or community members and inform indexers which APIs should be indexed by the Graph Network. The more indexing feedback curators provide for subgraphs, the more GRT they gain. It is stated that the level of technical competence to be a Curator is intermediate.
• Delegators: delegators are people who want to contribute to securing the network, but do not want to run a Graph node themselves. Delegators contribute by transferring (staking) GRT to existing indexers, and in return earn a portion of query fees and indexing rewards. Even technically inexperienced people can be delegators.
• Consumers: customers are end users of the graph who query subgraphs and pay query fees to indexers, curators, and delegators. Customers will pay their inquiry fees through “gateways” or wallets that will be built on open-source contracts on the Graph network, according to the disclosures.
According to the platform's descriptions, participants will use Graph tokens (GRT) to ensure the economic security of the Graph Network and the integrity of the queried data. GRT will serve as a business token, i.e. a work token, that is, locked by indexers, curators, and delegators, to provide indexing and optimization services to the network.