The Graph (#GRT ) is a unique project that has emerged from the #Ethereum blockchain. It's a decentralized system that allows users to construct and publish subgraphs,indexing and making data from blockchains accessible to everyone.
But how does it work, and what makes it unique? Let's dive in! šāāļø
How Does The Graph (GRT) Work?
#TheGraph understands what and how to index Ethereum and other blockchains data based on subgraph manifest definitions. These definitions specify the smart contracts of interest, the events to monitor, and how event data should be mapped to data that The Graph will store in its database. šļø
Unique Features of The Graph (GRT)
The Graph's unique utility lies in its ability to index blockchain data for faster and effective searching. This is particularly useful for projects with complex smart contracts, such as Uniswap, and NFT efforts, like Bored Ape Yacht Club, where data is stored on the Ethereum blockchain. The Graph overcomes the challenge of extracting query answers from blockchain data, making it a valuable tool in the Web 3.0 ecosystem. š
Who Are the Founders of The Graph?
The Graph team includes professionals from the Ethereum Foundation, OpenZeppelin, #Decentraland , Orchid, MuleSoft leading up to the IPO and acquisition by Salesforce, Puppet, Redhat, and Barclays. The initial co-founding team includes Yaniv Tal (project lead), Brandon Ramirez (research lead), and Jannis Pohlmann (tech lead). They have engineering backgrounds and have worked together for 5-8 years. š¤
What Does The Graph (GRT) Network Consist of?
The Graph Network is made up of:
Indexers
Curators
Delegators
These participants stake and use GRT tokens to ensure the economic security of The Graph Network and the integrity of queried data. GRT is an ERC-20 token on the Ethereum blockchain used to manage network resources. Active participants can provide services and earn from the network based on their services and stakes. š¼
The Graph (GRT) Price Prediction and Tokenomics
As the world transitions from Web 2.0 to Web 3.0, GRT has the potential to lead the race. This transition could have a significant impact on the price of the GRT token, which could break the $5 mark once the Web 3.0 tokens start to pump. š
Since its launch in December 2020, the GRT token has seen significant growth. As of now, The Graph has a market cap of $1,066,650,578, with a 24-hour trading volume of $37,815,943. The fully diluted market cap stands at $1,253,320,329. The circulating supply is currently 9,104,506,126 GRT out of a total supply of 10,705,165,841 GRT.
Despite the high volatility of the #crypto market, many experts believe that the Web 3.0 storm could take GRT back to its all-time highs in the near future. Given the current market conditions and the potential of The Graph, it's a project worth keeping an eye on. š
