$GRT
The Graph has announced a new data standard GRC-20, aimed at bringing innovative data standards to the Web3 space. GRC-20 is a proposed universal language for cross-Web3 data, serving a similar role to the ERC-20 standard on Ethereum, which standardized value and facilitated the development of decentralized finance (DeFi) and the decentralized value internet. GRC-20 aims to standardize data, information, and knowledge to materialize Web3 and help achieve an open, verifiable, and composable Web3 vision.
The core concepts of GRC-20 include "Spaces" for organizing information, "Entities" and "Relations" for representing single data points, and "Types" for adding structure to information. This standard will replace the current Resource Description Framework (RDF) data framework, which has shown limitations in the Web3 environment. GRC-20 provides a universal knowledge language that allows developers to build interoperable applications that can evolve with the dynamic development of Web3 technology.
The Graph plans to release supporting tools in the coming weeks and open community feedback to refine and expand the GRC-20 standard. This initiative marks The Graph's transition from subgraphs to knowledge graphs, providing Web3 developers with more precise search options. Through this new standard, The Graph hopes to facilitate the structuring, sharing, and connecting of information between decentralized applications (DApps), thereby promoting the development of Web3 technology.