• M

    Max E.

    Rolling Stocks: GRT Crypto - Secured, Fast & Decentralized Database

    GRT Crypto

    The Graph [GRT] is a query protocol for indexing information in decentralized networks. 

    History and team of the GRT Crypto project 

    Work on the GRT Crypto started in 2017, and the project was launched in December 2020. The launch was helped by large investors. One of them is the venture capital firm Coinbase Ventures from the eponymous exchange. In total, it took $ 19.5 million to launch. 

    The founders of the project are the head Yaniv Tal, the scientific director Brandon Ramirez and the technical director Jannis Pohlmann. In the past, Ramirez and Tal were colleagues at API development tools company MuleSoft. Colleagues have created an immutable database framework called Datomic. Graph was born out of the concept of building immutable APIs and accessing data using the GraphQL query language. 

    Yaniv Tal, co-founder and CEO of The Graph, and his team decided to develop an indexing protocol to facilitate access to blockchain data. Tal and his colleagues have learned from their own experience how difficult it is to create new Ethereum blockchain applications.

    Through their experience with applications, they figured out that there is no decentralized indexing and software query system for the blockchain yet. At that time, developers had to invent their own methods for collecting and transforming data from different sources.

    The Graph Key Features

    The Graph works the same way as search engines like Google – it composes a database of transactions and information in blocks. It can then be accessed quickly and easily. In fact, The Graph is a decentralized version of services like Etherescan. But unlike Etherscan, users do not need to rely on the company that makes up such a database. It is protected from any falsification by blockchain technologies. 

    The project allows making requests to various networks, for example, Ethereum [ETH] using the GraphQL query language. This language makes it possible to set search criteria and what fields of the base it should be conducted by.

    Data in The Graph is organized in the form of "subgraphs", the application can use one or more subgraphs, which contain the data necessary for the application to work.

    For example, subgraphs that store information from the Uniswap [UNI] exchange contains data about tokens, operations with them, transactions, and trading volumes. With the help of The Graph technologies, this information can be used to build decentralized applications in any blockchain. 

    At the moment, The Graph supports indexing data from Ethereum, IPFS and PoA networks. In the future, the platform plans to support several more networks. More than 2300 subgraphs have already been implemented, and developers use them in their applications. The list of apps includes AAVE, Aragon, Balancer, DAOstack, Uniswap, Synthetix and many more.

    Is GRT Crypto a good investment?

    Most likely, in the future the system will be similar to MakerDAO and Compound. Once the protocol is ready for this, the team plans to create a Decentralized Autonomous Organization (DAO) that will provide key stakeholders with an opportunity to participate in key protocol decisions.

    Like the other DAOs, the governing body for the technical parameters of the protocol will be The Graph Council, a community-driven project management body, which is also responsible for how the Graph Foundation distributes GRT tokens.

    Its core functions include grants and ecosystem funding decisions, protocol updates, protocol parameter changes, and other emergency decisions.

    Currently, indexing technologies work only on the Ethereum [ETH] blockchain, but in the future, it is planned to expand the functionality to all networks. There are already large popular projects among those who actively use The Graph. They include a decentralized exchange Uniswap [UNI], a network for trading synthetic assets Synthetix [SNX], Decentraland [MANA], Aragon [ANT].

    Looking at the rapid development of the DeFi industry, we see how important it is for developers to have free access to data from the blockchain. Making the process faster and easier can impact the growth of the entire industry, as well as its reliability, security, and throughput.

    The need to create an information bridge between applications and data from the blockchain is obvious to everyone. The Graph offers a potential solution to this challenge.

    Thanks to the use of smart contracts based on user data, the project turned out to be simple, economical and fast. The platform looks like a promising tool, especially for those looking to increase the number of blockchain use cases. If the network develops successfully, it will become the missing link in the complete decentralization of blockchain applications.

    GRT token 

    GRT is the governance and utility token of Graph. It can serve as a means for exchanging and rewarding community members who act as indexers, curators, and delegators. This ERC-20 token has a maximum supply of 10,000,000,000 units, and an additional 3% of tokens will be issued annually. 1% of all paid commissions are burned.

    GRT crypto staking

    In order to acquire stakes in the nodes on which the platform is based and sell their services on the "query market", the user must block a certain amount of GRT. In return, he receives material rewards If the indexer behaves in bad faith and, for example, deliberately changes data, as punishment the system will confiscate the GRT tokens that it has blocked.

    The Graph Roadmap

    As of now, with the mainnet launched, The Graph continues to evolve. The team said the Graph Foundation is developing a decentralized Graph Explorer application and Gateway that will provide all network members with the assistance they need.

    The project is also open to any third party individuals or legal entities who wish to help develop the network. Anyone can apply for participation in the grant program or start collaborating with other members of the community.

    Frequently Asked Questions About The Graph token

    Where can you buy GRT tokens? 

    The most active exchanges for this cryptocurrency are Binance and Coinbase Pro. 

    What is the GRT crypto price? 

    Since the launch, GRT Crypto managed to grow 10 times, but now it is trading below historical highs. GRT price today is $ 0.845432. Over the past 24 hours, it has grown by 2.9%. 

    What is the GRT Crypto Price prediction?

    According to some analysts, in 2021, the GRT crypto price might rise to almost $0.96. If the bullish trend preserves, the GRT crypto price will reach $1.5 by the end of 2022.

    The content of this article is for informational purposes only and should not be construed as investment advice. We ask you to do your research.