The Graph (GRT): an overview of the token and indexing protocol, price, price chart, where to buy and store GRT
The Graph is a distributed protocol for indexing and searching information on blockchains like Ethereum. Blockchain indexing is a rather complicated and time-consuming process, which does not always allow obtaining correct data. The solution offered by The Graph is to create indexes (“subgraphs”), which can then be queried using the GraphQL API tool. It is based on an open-source implementation of Graph Node.
GRT is an ERC-20 utility token designed for staking, developing subgraphs, delegating assets to validators. Also, ordinary users who want to use search services pay a commission to GRT for each request.
GRT is traded on many crypto exchanges including Binance. Before deciding whether to buy it, we suggest that you familiarize yourself with the review of The Graph project from the editorial staff of Btcnewsweb.com.
GRT token price to USD
|Name||Price||Market Cap||Supply||Change % (7D)||Performance|
GRT to USD chart
|Current issue as of 02/11/21||4 715 735 200 GRT|
|Maximum emission||10 000 000 000 GRT|
|Course on 02/11/21||1,01 $|
|Capitalization on 02/11/21||10 136 873 538 $|
|Social networks||https://twitter.com/graphprotocol, https://t.me/graphprotocol, https://reddit.com/r/thegraph|
|Exchanges||Binance, Coinbase, Huobi, OKEx, KuCoin, Kraken and others|
Purpose and principle of operation of The Graph
The Graph platform is designed to organize a comfortable search for the necessary information in the Ethereum blockchain and other chains. Through the subgraph system, The Graph indexes information, and users can take advantage of the index results through the GraphQL API. In the future, it is planned to decentralize this scheme as much as possible so that many nodes are responsible for the index.
In June 2020, amid growing interest in the field of decentralized finance, the platform processed more than 1 billion requests from users. In December of the same year, they launched mine-no.
For indexing, the so-called Subgraph Manifesto is used. This is a kind of instruction regarding what information about smart contracts and events a subgraph should contain in order to be recorded in the database.
The data flow always corresponds to a certain structure. As a rule, it all starts with dApps, which contribute data to the Ethereum chain through smart contracts. Then all events and operations are recorded until their completion. The Graph node scans the entire chain database, assembles and filters the information, leaving only those that are relevant to the user’s request.
The GraphQL mechanism provides a connection between blockchain data and the application to which a person wants to transfer it. At the end of the process, you can view the search results.
Network structure The Graph
The Graph network has three main roles:
- Indexers. These are the contributors supporting the nodes that use their GRT tokens to provide data indexing and query processing services. They are financially rewarded for this work. Indexers select the highest quality subgraphs based on signals from curators and prioritize them.
- Curators. These are the subgraph designers who notify the indexers of which subgraphs should be indexed in priority. For this, they receive a portion of the payment for each request, and this is an incentive to provide the highest quality data. Moreover, the earlier the curator notifies about the subgraph, the greater the share of fees he can receive.
- Delegators. These are members who, for one reason or another, are unwilling or unable to launch their own node, and instead delegate their GRT tokens to the indexers who do this. For this, delegates receive a portion of the rewards earned by the indexer for each request. These members choose good indexers for criteria such as uptime, request commission rate, and so on.
In the future, The Graph plans to implement fully decentralized governance, similar to Compound or MakerDAO. A decentralized autonomous organization will allow stakeholders to participate in key decisions on the development of the protocol. The DAO will also be responsible for how the Graph Foundation manages the GRT utility tokens, and makes decisions about granting grants, adjusting protocol parameters, etc.
The Graph Token (GRT)
The Graph (GRT) is an Ethereum-based token required to control the allocation of resources in The Graph system. All of the above categories of participants – indexers, curators, delegates – receive income from the network, which corresponds to the volume of their share in GRT and the work they do.
GRT indexers that are blocked in the protocol are subject to gradual unblocking and can be withdrawn if malicious actions of the participant are detected. Curators and delegates cannot be exempt, but they are taxed to prevent them from making harmful decisions.
Indexers who stake GRT profit from commission per user request. The cost of queries is determined by the indexers themselves and depends on many factors. To make it easier for users to interact with the network and make payments, the team uses a set of gateways that handle payment requests; any user can also launch personal gateways.
The protocol provides for a mechanism for burning tokens. In particular, the aforementioned tax on curators and delegates is subject to incineration.
Where to buy and store The Graph token (GRT)
The following cryptocurrency exchanges allow you to buy or sell an asset:
Among them there are both centralized and decentralized platforms that work with ERC-20 tokens. For storing GRT and interacting with DeFi exchanges, the Metamask wallet is best suited. It is installed in a browser (preferably Google Chrome) and makes it possible to comfortably manage funds by confirming transactions in one click.
Given the popularity of the DeFi space today, it becomes clear that it is extremely important for developers to be able to freely access blockchain data. The easier and faster this process becomes, the greater the potential for efficient use of this space, and in addition, the indicators of reliability and safety increase. The Graph (GRT) is trying to build an information bridge between blockchain data and decentralized applications, so the platform represents a promising tool for empowering all members of the community.