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- 1 The Graph is a protocol that indexes data from networks like Ethereum and IPFS, allowing applications to query data.
- 2 The Graph has a hosted service and a decentralized network and supports data from Ethereum, IPFS, and POA.
According to CoinMarketCap, The Graph is a protocol that indexes data from networks like Ethereum and IPFS, allowing applications to query data from blockchains using GraphQL. Anyone can create and publish open APIs, called subgraphs, that applications can use to access blockchain data.
There is a hosted service that makes it easy for developers to start building on The Graph and the decentralized network will launch soon. The Graph supports data from Ethereum, IPFS and POA, and more networks are coming soon.
The Graph in Brief
More than 3,000 subgraphs have been created by thousands of developers, for DApps like Uniswap, Synthetix, Aragon, AAVE, Gnosis, Balancer, Livepeer, DAOstack, Decentraland and many others. The Graph usage has grown by over 50% MoM and reached over 7 billion queries in September 2020.
The Graph has a global community, having over 200 Indexer Nodes in the testnet and more than 2,000 Curators in the Curator Program as of October 2020. To fund network development, The Graph increased funds from community members, strategic VCs, and significant individuals in the blockchain community.
Features of Graph
The Graph is aiming to bring reliable decentralized public infrastructure to the mainstream market. To provide the financial security of The Graph Network and the precision of data being queried, parties use Graph Token. GRT is a yield token that is locked up by Indexers, Curators, and Delegators to feed indexing and curating assistance to the network.
GRT will be an ERC-20 token on the Ethereum blockchain, utilized to distribute resources in the network. Active Indexers, Curators and Delegators can gain income from the network proportionate to the portion of work they perform and their GRT stake. Indexers earn indexing rewards (new issuance) and query fees, on the other hand, Curators earn a part of query fees for the subgraphs they signal on. Delegators earn a part of the income earned by the Indexer they delegate to.
Price Overview of Graph
As per coinGhecko data the Graph Crypto is trading at $0.153412 currently with a 24-hour trading volume of $86,534,696.43. This is a -0.15% price drop in the last 24 hours and a 7.87% price rise in the past 7 days. The Graph has a market cap of $1,432,979,656, with a circulating supply of 9.3 Billion GRT.
The trading volume of The Graph Crypto is $86,576,020 in the last 24 hours, which is a 47.30% increase from one day ago and indicates a recent surge in market activity.
The Graph Crypto reached its all-time high price of $2.84 on Feb 12, 2021 (almost 3 years ago). Compared to the current price, this is -94.59% lower than the all-time high price.
The Graph Crypto reached its all-time low price of $0.052051 on Nov 22, 2022 (about 1 year ago). Compared to the current price, this is 195.22% higher than the all-time low price.
Conclusion
The Graph is a protocol that aims to bring reliable decentralized public infrastructure to the mainstream market. It enables anyone to create and publish open APIs, called subgraphs, that applications can use to access blockchain data. The Graph has a hosted service and a decentralized network, which will launch soon, and supports data from various networks, with more networks coming soon. The Graph has a global community and a native token, GRT, that is used to allocate resources and incentivize participants in the network. The Graph crypto is trading at $0.153412 currently, with a high trading volume and a large market cap. The Graph is a project that offers a unique and innovative way of querying data from blockchains.
Steefan George is a crypto and blockchain enthusiast, with a remarkable grasp on market and technology. Having a graduate degree in computer science and an MBA in BFSI, he is an excellent technology writer at The Coin Republic. He is passionate about getting a billion of the human population onto Web3. His principle is to write like “explaining to a 6-year old”, so that a layman can learn the potential of, and get benefitted from this revolutionary technology.
