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The Graph Network: API for information sharing indexed on the blockchain
In today’s review, we will explain what The Graph is and how it works.
OCT 09, 2020
Developers were forced to develop and run their own servers for indexing information. This violated the principles of blockchain decentralization and posed a threat to network security. In addition, it was necessary to use an impressive amount of resources to create and operate the network. The Graph solves this problem by providing a global API stack for organizing and sharing data in Web3. In today’s review, we will explain what The Graph is and how it works.
What is The Graph Network?
The Graph is a decentralized blockchain protocol that allows indexing queries in the Ethereum, PoA, and IPFS networks — https://thegraph.com/ but the protocol will not be limited to this, And in the future, the creators will add other blockchain networks. Thanks to the solution developed by The Graph, users can create and publish open APIs (subgraphs), balancing performance and application decentralization. All information is organized transparently, which makes access to it open and fast. Other users can easily improve and use the created APIs in blockchain applications.
The protocol aims to create a functional and transparent crypto economy that is accessible to a wide range of users, not just large companies and corporations. The Graph solutions is used by such well-known blockchain projects as Uniswap, Aave, Synthetix, Aragon and many others.
How the protocol works and what The Graph (GRT) are for
The Graph Network consists of participants, each of whom is assigned a different role: curators, consumers, indexers, and delegators.
- Indexers are operators (validators) of The Graph, which protect the network, provide the market with liquidity and receive rewards for their work.
- Curators are rewarded if they correctly predict which of the publicly available data will be valuable for the entire network.
- Consumers get access to queries and pay for the work of indexers.
- Delegators are stakers who delegate their GRT tokens to indexers and receive a portion of the rewards without having to run their own nodes.
Currently, the platform is still being prepared for launch. But our Everstake validator will join the network as soon as this launch takes place to become a staking provider for The Graph token holders
According to CoinMarketCap there is no information about GRT tokens yet. However, The Graph Token Economics blog shows that the total supply of tokens will be 10,000,000,000 GRT (10 Billion). We don’t know yet how many of them will be issued after the launch. Follow the news in our blog.
Why Everstake
Everstake is a reliable staking provider that provides token holders with a convenient platform for monitoring staking coins and secure solutions in various blockchain networks. You can delegate your tokens and receive rewards, and Everstake will ensure the stable operation of its validators. In addition, Everstake offers low staking fees.
Join our community on Medium and in social networks, where we talk in detail about staking and review useful blockchain projects.
About The Graph
The Graph is the indexing and query layer of the decentralized web. Developers build and publish open APIs, called subgraphs, that applications can query using GraphQL. There is a hosted service in production that makes it simple for developers to start building on The Graph, and the decentralized network will be launching later this year. The Graph currently supports indexing data from Ethereum, IPFS, and PoA with more networks coming soon. To date, over 2,300 subgraphs have been deployed by thousands of developers for applications, such as Uniswap, Synthetix, Aragon, Gnosis, Balancer, Livepeer, DAOstack, AAVE, Decentraland, and many others.
If you are a developer building an application or Web3 application, you can use subgraphs for indexing and querying data from blockchains. The Graph allows applications to efficiently and performantly present data in a UI and allows other developers to use your subgraph too! You can deploy a subgraph or query existing subgraphs that are in the Graph Explorer. Join our community by introducing yourself in our Discord for technical discussions, join our Telegram chat, or follow us on Twitter! Our developers are always eager to chat with you, and The Graph ecosystem has a growing community of developers who support each other.
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Disclaimer
Everstake, Inc. or any of its affiliates is a software platform that provides infrastructure tools and resources for users but does not offer investment advice or investment opportunities, manage funds, facilitate collective investment schemes, provide financial services or take custody of, or otherwise hold or manage, customer assets. Everstake, Inc. or any of its affiliates does not conduct any independent diligence on or substantive review of any blockchain asset, digital currency, cryptocurrency or associated funds. Everstake, Inc. or any of its affiliates’s provision of technology services allowing a user to stake digital assets is not an endorsement or a recommendation of any digital assets by it. Users are fully and solely responsible for evaluating whether to stake digital assets.
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