The Graph is a decentralized indexing system designed to query data from the blockchains. The platform has its own cryptocurrency - the Graph (GRT). Data indexing is a process of data structure that improves the speed of blockchain operations. The indexed data ends up grouped in so-called subgraphs - open APIs, which anyone can create, implement and adopt. That makes the database clear and easily accessible.
The indexing function of the Graph is spread to such networks as Ethereum, IPFS, and Filecoin with more of them coming soon.
GRT is the main utility token of the Graph which governs the economy of the network. This ERC-20 token transfers value globally and distributes resources. GRT’s distinctive feature is that it is locked-up by Indexers, Curators, and Delegators who guarantee indexing and curating services to the Graph. Indexers collect indexing rewards and query fees; Curators earn a part of sungraphs’ query fees; Delegators interfere with the Indexers’ rewards and take a portion of their income.
The main developer of the Graph is Yaniv Tal. He launched the Graph at the end of 2020 after a 3-years-long testing period. The Graph was noticed by DeFi platforms right away and attained multiple integrations.
During that period Yaniv and his co-founders have been working on creating a new-level indexing protocol that would make it easier to access blockchain data. The Graph team faced a challenge then because it was the first one in the field of indexing blockchains. They had to develop the unique software from scratch. Then GraphQL emerged - the method of collecting, transforming, and manipulating data from various sources into API.
The main purpose of the Graph is to create an ecosystem that would let access to Web3 without any additional servers.
Today feels like a perfect day to get some GRT tokens, doesn’t it? SimpleSwap is right here for your crypto exchanges 24/7. Read how to become a GRT owner below: