Bittime - Graph is a decentralized indexing system that allows users to access and query data from blockchain networks, making DApp development easier.
With the convenience offered by The Graph, of course DApp management becomes more concise and less difficult.
In this article there is a description of what The Graph is, and how it works. Read it until the end.
What is The Graph (GRT)?
Graph is an open source protocol running on the Ethereum blockchain, designed to index and organize data with Google-like goals.
The Graph (GRT) collects, organizes, and stores information from various blockchains, so that it can be accessed by users.
Leveraging The Graph (GRT) allows developers to quickly access and analyze data from blockchain networks , making building decentralized applications (DApps) easier.
GRT, The Graph's native currency, is used by users to pay for access to query creation.
Graph's decentralized indexing protocol leverages an open source application programming interface (API) known as subgraph. These subgraphs organize data in a global blockchain graph according to user requests.
Also Read: Getting to Know The Graph (GRT): Presenting Decentralized Data Access
Subgraphs are switchable, allowing developers to use GraphQL (the language used by The Graph) to quickly and efficiently query data. Graph's decentralized network is powered by blockchain technology, a distributed ledger system that enables secure and transparent transactions.
By providing an easier interface for developers to access and query data stored on decentralized networks that is difficult to access directly, The Graph helps accelerate the building of DApps on those networks.
One example of The Graph's use is in the burgeoning field of decentralized finance (DeFi).
Thus increasing developer access to data from the blockchain network used in DeFi applications.
Users can also utilize GRT to create nonfungible tokens (NFT), which are unique digital assets managed in a blockchain system.
By simplifying developer access to this data, The Graph supports the development of the NFT marketplace and other NFT-related applications.
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History of The Graph (GRT)
Released in 2018, The Graph is a decentralized network that provides an easy-to-use wallet and platform for developers to access blockchain data.
The Graph is a relatively new entity in the industry, founded in 2018 by Jannis Pohlmann, Yaniv Tal, and Brandon Ramirez.
They aim to create a decentralized system that provides seamless and on-demand access to data for developers across various blockchain networks.
Graph Protocol Incorporation, now known as Edge & Node, is the party that conceptualized and developed The Graph ecosystem.
The token for the project was not launched on mainnet until late 2020. This was the official launch step for the protocol, allowing developers to create and deploy subgraphs across different blockchain networks.
https://thegraph.com/
After mainnet launch, The Graph experienced widespread interest and significant adoption from the DeFi community.
A number of leading DeFi projects have adopted The Graph to make it easier for users to access their on-chain data.
Graph Wallet is a convenient and secure solution for storing and managing GRT tokens.
Users can easily store, send, and receive GRT tokens via The Graph Wallet, which can be accessed via both iOS and Android devices. Additionally, this wallet can be used to interact with DApps that accept GRT.
There is a steady increase in the number of networks supported in The Graph, providing greater flexibility in a wide variety of use cases.
In addition, The Graph has collaborated with several leading blockchain projects, including Chainlink and Uniswap.
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How The Graph (GRT) Works
The Graph (GRT) is a decentralized cryptocurrency that has a variety of use cases and an open, community-supported ecosystem that provides indexing and query options for developers building DApps.
Using blockchain technology and an innovative indexing protocol, Graph facilitates efficient querying of blockchain data.
This is the first step in enabling DApps to integrate Ethereum data through smart contract transactions. Graph uses GraphQL technology to describe each data API in detail.
Graph Nodes are responsible for the initial collection of data, becoming the backbone of the network that scans smart contracts.
Graph's use of GraphQL technology allows for a more detailed description of each data API.
Ethereum only allows access to underlying data from projects involving complex NFTs, such as CryptoPunks, and smart contracts, such as Uniswap , if accessed directly.
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Through indexed Graph or subgraph APIs, one can query the blockchain and retrieve more complex data more quickly and efficiently, without compromising the security aspects of decentralization.
The Graph Protocol analyzes and stores data requested from the Graph Network in subgraphs, then returns the results directly to the requesting application. Users can explore the platform's subgraphs through The Graph Explorer portal because Graph is developed in an open source software environment.
Six key players in The Graph system work together to access and manage data using subgraphs. They consist of:
- Consumers: Developers who need data to create DApps. They pay query fees and submit query requests for the data.
- Indexer: The node operator tasked with indexing and querying the signaled subgraph and must stake GRT.
- Delegators: Those who participate in network administration without having to provision their own nodes by distributing their GRT to indexers.
- Curators: Subgraph developers who determine the quality of subgraphs worthy of inclusion in The Graph index.
- Fishermen: Participants who validate the accuracy of query responses within the network.
- Arbitrators: Tasked with helping determine whether Indexers have engaged in inappropriate behavior. Arbitrators are assigned by a decentralized government.
These participants can potentially receive payments from the network in exchange for their contributions, but must stake GRT first.
Currently, GraphQL enables the development and use of applications on Ethereum, the InterPlanetary File System, and proof-of-authority (PoA) networks , with the hope that more networks will become available in the near future.
How to Buy GRT Tokens on Bittime
You can buy and sell The Grapth (GRT) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
GRT is available on Bittime in GRT IDR pairing. To be able to buy GRT IDR at Bittime , make sure you have registered and completed identity verification.
Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn the complete guide on how to buy GRT on Bittime .
Monitor price chart movements for Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL), The Graph (GRT) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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