It’s difficult to retrieve specific data from the Web3 space, as it stores it in a decentralized way — data lying on the doors of millions of users. Fortunately, we have Blockchain Indexing Protocol – an indexing arrangement for accessing Blockchain data – to make life easier.
Indexing protocols thus help us in finding out and retrieving data from many blockchain networks easily.
The Graph is a popular Blockchain Indexing Protocol that makes decentralized applications more accessible — with its indexing tool to locate and retrieve data on prominent blockchain networks.
Read this article to learn the ins and outs of the world of The Graph.
What is The Graph (GRT)?
The Graph is a protocol to develop decentralized apps—called dApps—easily on blockchain networks like Ethereum and IPFS.
It has its own query language called GraphQL in which you can access data from blockchain networks seamlessly.
Brief History
If we look at the history of The Graph, we learn that back in 2018, three men – Jannis Pohlmann, Yaniv Tal, and Brandon Ramirez – empowered the world with a decentralized indexing protocol. The Graph Protocol Incorporation, also called Edge and Node, was used to manifest The Graph’s ecosystem. The world at large did not make full use of this project until two years later in 2020.
There has been a steady rise in the popularity of The Graph, as its number of supported blockchain networks has expanded from Ethereum to more.
Founding Team
Jannis Pohlmann is the co-founder, Head of Engineering and CTO of Edge & Node. He graduated from the University of Southern California in 2010 with a degree in Electrical Engineering.
Yaniv Tal is a co-founder of Workflo, a UI building company, and also the founder of TapSavvy, a mobile payment company. He graduated from Westminster College in 2005, with a major in mathematics and a minor in physics.
The third co-founder, Brandon Ramirez is the former Research Lead of the Graph Protocol. He completed his bachelor’s degree in Electrical Engineering from the University of Southern California.
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How The Graph Works
Now that we set some context behind what The Graph is and what was its background, it’s now time to look into how its mechanism works.
Indexing & Querying
The first step is to identify the subgraph you want to query. A subgraph is a subset of data on a blockchain network. Then you have to define your query by writing it in GraphQL. Subgraphs are queried by using the Graph Node — a software component that runs on a server and provides an interface for querying.
GraphQL API
The Graph has come up with an arrangement called ‘subgraphs’ that enable developers to create customized data indices for their dApps. They are the Application Programming Interfaces (APIs) that are also known as The Graph’s Query Language, GraphQL.
Subgraphs allow them to retrieve and organize data from a particular blockchain network or smart contract. This reduces time and money, compared to accessing the data directly from blockchain networks.
The Graph Network
The GRT Network comprises Indexers, Curators, and Delegators. They provide network services and data to Web3 apps.
The Players in The Graph Ecosystem
Indexers
Indexers operate nodes in The Graph Network. They supply indexing and query processing services to the customers. They earn indexing rewards and query fees for their services by staking Graph Tokens. They cannot provide their service without staking.
Curators
They are the creators of subgraphs who decide which of them are to be included in The Graph’s index. They work without staking.
Delegators
They are the contributors to the network. They do not set up a node but delegate GRT to indexers. Staking is not required from them.
Benefits of The Graph
The Graph fills an important gap in the blockchain world by making the access of data not only efficient, but also economical.
For Developers
One of the biggest advantages of The Graph is its ability to facilitate developers to build dApps without trading off performance and reliability.
The indexing provided by The Graph is scalable and efficient enough to make querying more resourceful.
For Data Consumers
The Graph is very flexible as it supports Ethereum, IPFS, and POA. Its user-friendly interface allows them to play around indexed subgraphs hypothetically. Users can also employ the GRT to craft nonfungible tokens (NFTs) to trade in NFT marketplaces.
For the Blockchain Ecosystem
It has become a blessing for the blockchain ecosystem as it provides the required infrastructure to support a decentralized web. By allowing developers to access and retrieve data from the blockchain easily, Graph makes it possible to build dApps that are fast, reliable, and user-friendly. This eventually helps to progress the goal of creating a decentralized web that is more secure, transparent, and open than the current centralized web.
The Graph developers have the tools to help usher in a new era of decentralized applications that can transform how we interact with technology and each other.
What is the GRT?
The Graph Token (GRT) is the native token of The Graph platform. It behaves as a medium of exchange and to reward the Graph Network. So if you want to query data, you will have to pay in GRT.
Staking
For the protection of users, it is mandated for the indexers to stake an equivalent amount of GRTs that they are indexing for other users. This helps in keeping a check on potential misconduct in the ecosystem.
Delegating
The GRT plays a crucial role in the working of the Graph Network. It incentivises and rewards the network players, where delegators stake their GRT to support the network.
Governance
As the network is growing, the Graph has made sure that most of the stakeholders are allowed to propose and vote on network changes or any upgrades. That is why the GRT is a governance token.
Criticisms and Risks
Here are some areas that you should consider before employing any blockchain indexing protocol.
Centralization Concerns
The Graph has shared that it will phase out its Hosted Service in 2023. Its official website now states that it has completely become decentralized. Since The Graph does not hold its data on a single server, it is safe to say that the concerns regarding centralization have started to diminish.
Security Risks
It is important to note that curators and delegators are not required to slashing or other penalties for any indexing misbehavior. Rest assured, Graph is promising a secure environment as it has already been endorsed by well-known blockchain networks. The founding team has a strong background and The Graph is currently planning to expand its supported blockchain networks.
How to Buy GRT Tokens on Binance
Buying GRT on Binance is easy. To buy GRT, follow these steps:
- Create a free account on the Binance website or mobile app.
- Deposit funds in your account.
- Once done, you can exchange USDT for the GRT tokens. Similarly, you can also directly purchase GRT via wire transfer and debit/credit card.
- After deciding on your payment channel, enter the amount and confirm all the details.
- Finally, store or spend the GRT as you wish.
To register on Binance click the link below.
Future Prospects
The Graph has recently published its analysis for the second quarter of this year, 2023. The Graph has already completed its second phase of Abitrum migration. If successful, this migration will help its data management be more resourceful and seamless. Besides, it is aiming to adopt Fantom and Polygon as its supported blockchain networks.
As a result of this adoption, the accessibility and interoperability of the token to operation on various exchanges will improve.
Conclusion
The Graph is a unique concept that aims to make data indexing and accessibility easier for users. While there is no guarantee of success in the crypto market, The Graph appears to have a bright future with growth potential.
Therefore, it’s safe to say that GRT will experience a surge in price in the next anticipated bullish run.
We Coin-Labs.com provides only objective information about The Graph.
Therefore, we are not responsible for the investment decision in The Graph and the resulting loss.
The Graph Basics
Here are some factors that investors should consider before investing in The Graph.
| Cryptocurrency Features | The Graph (GRT) |
|---|---|
| Publisher or Developers | Yaniv Tal, Jannis Pohlmann, Brandon Ramirez, |
| Headquarters (Registration Number) | San Francisco |
| Symbol | GRT |
| Platform | Ethereum |
| Published Date (CMC Registration) | 2024-11-01 |
| Max Supply | No limit |
Reliability Score of The Graph in 2024
These are indexes mesuring the investment reliability of The Graph conducted by Coin-Labs.com.
| Investment Reliability Rating Items | Scores and Current Status |
|---|---|
| Company Activation Rate | / 10.0 CAR |
| Communication Rate | / 10.0 CR |
| Technology Transparency Rate | / 10.0 TTR |
| Development Participation Rate | / 10.0 DPR |
| Listing Status on the World's Top 10 Exchanges | Listed on 10 Exchanges |
| Number of Available Pairs Worldwide | 513 Pairs |
| Market Cap of the Cryptocurrency | 1,449,261,561 USD (Rank #50) |
The table above shows the result of investment suitability evaluation for The Graph.
Check out how we evaluate cryptocurrencies on the crypto rating description page.
The Graph Price
Here are the price and recent trading volume of The Graph. (Data of 2024-11-02 00:35:00)
| Price Items | Price and Trading Volume of The Graph |
|---|---|
| The Graph Price | 0.149 USD |
| Price Change 24h | -0.61% |
| Price Change 7d | -8.33% |
| Trading Volume 24h | 49,991,971 USD |
| Trading Volume Change 24h | -3.21% |
Cryptocurrency Metadata
You can check the development status and social media information of The Graph through the links in the table below.
| Metadata Source | URL |
|---|---|
| 🌎 Official Website | https://thegraph.com |
| 📖 White Paper | https://thegraph.com/docs/ |
| 🛰️ Source Code (GitHub) | https://github.com/graphprotocol |
| https://twitter.com/graphprotocol | |
| https://reddit.com/r/thegraph | |
| 🎺 Message Board | https://thegraph.com/blog/ |
Where to Buy The Graph
Here are the top ten world crypto exchanges where traders can buy The Graph in 2024.
| Top10 Exchanges | Listed Status | Page URL |
|---|---|---|
| Binance | Listed | https://www.binance.com/en/trade/GRT_USDT |
| Coinbase | Listed | https://pro.coinbase.com/trade/GRT-USD |
| Kraken | Listed | https://pro.kraken.com/app/trade/grt-usd |
| KuCoin | Listed | https://www.kucoin.com/trade/GRT-USDT |
| Bitfinex | Listed | https://trading.bitfinex.com/t/GRT:USD?type=exchange |
| OKX | Listed | https://www.okx.com/trade-spot/grt-usdt |
| Huobi | Listed | https://www.htx.com/en-us/trade/grt_usdt?type=spot |
| Bitstamp | Listed | https://www.bitstamp.net/markets/grt/usd/ |
| Bybit | Listed | https://www.bybit.com/trade/usdt/GRTUSDT |
| Gate.io | Listed | https://www.gate.io/trade/GRT_USDT |
Frequently Asked Questions
What is the current price of The Graph?
The Graph price today is 0.149 USD. Furthermore, the price of The Graph has fluctuated by -0.61% from 24 hours ago, and by -8.33% from a week ago.
Where is The Graph listed?
Currently, it is listed on a total of 10 among the world top 10 exchanges.
What is the market cap of The Graph now?
Currently, The Graph has a market cap of 1,449,261,561 USD, which is ranking 50 among cryptocurrencies worldwide.
How much is the trade volume of The Graph?
Currently, 9,548,531,509 GRT coins are circulating through 513 market pairs. As a result, in the last 24 hours, 49,991,971 USD of GRT coins were traded in the market.
