What is The Graph ( $GRT )?
The Graph is a decentralized protocol designed to index and query blockchain data. This platform increases the accessibility and queryability of complex data, especially those stored on blockchains such as Ethereum. Data generated by smart contracts and various applications have structural and technical complexities that are difficult to query directly from the blockchain.
To overcome these challenges, The Graph uses indexed APIs called subgraphs. This allows more complex queries to be easily performed, such as ownership information for an NFT collection. Subgraphs define smart contracts' events and related data, so The Graph can index this information and store it in its database.
The Graph provides a framework for how data flows are processed: A dApp performs an action on a smart contract; The contract issues one or more events while processing the transaction; Graph Node monitors Ethereum to constantly scan for new blocks and the subgraph data they may contain; and these events are processed and stored as determined by the Graph Node.
The Graph's economic model is designed to ensure the security of the network and the integrity of the queried data. Participants – indexers, curators, and delegators – provide services to the network and take on various roles using the GRT token. This token is a working and utility token used to allocate resources within the network.
By making it easier to access blockchain data, The Graph offers developers greater flexibility and efficiency in building decentralized applications. This paves the way for innovation, especially in areas like DeFi and NFT, and allows developers to create more complex and user-friendly dApps.
