E&S: GRT, APIs For A Vibrant Decentralized Future

E&S: GRT, APIs For A Vibrant Decentralized Future


Hey Publish0x community! Welcome back in this new article of my “Easy & Short Cryptocurrencies Made Accessible” area.

In this article we talk about more features of The Graph!

In the last E&S article I introduced you The Graph (GRT) and I said that is the ecosystem of reference, i.e. the platform at the base of the project's functioning. The GRT token is part of the Ethereum Token type and plays a crucial role within The Graph ecosystem. The latter is considered a real protocol of last generation, obviously decentralized and therefore without a centralized and private proprietary system. In recent times it has been able to extend its community, taking advantage of the potential of the protocol and its own technologies.

Today we are going to introduce some new things about the Graph!

How does The Graph work?

The Graph project is to build a kind of marketplace for various blockchain data like Ethereum. All the data is grouped into open APIs called subgraphs and can be viewed using The Graph Explorer. Using The Graph Explorer, a Dapps developer can easily request the data they need using the GraphQL language.

When a developer makes a request for data, network nodes called Indexers search through the relevant subgraphs to find the requested information. Indexers choose which subgraphs to pull data from, based on signals provided by Curators, who are the ones who develop the various subgraphs and sort them by quality. Any analytics company can build an application to query the data from the subgraphs that are indexed by The Graph. Subgraphs are open APIs to be able to pull data from the blockchain in the easiest and most efficient way.

There are four different roles in The Graph ecosystem:

  • Indexers: are nodes that stage GRT tokens and earn fees for processing requests.
  • Curators: organize the data on the various subgraphs, telling Indexers which APIs to use.
  • Delegators: keep the network safe, delegating their GRT tokens to Indexers, who in turn put them in staking.
  • Consumers: are the final users who request data and pay fees to Indexers, Curators and Delegators.

Anyone can delegate their GRTs to Indexers to keep the network secure and earn rewards.

The Graph

What makes The Graph unique?

The Graph is committed to bringing reliable decentralized public infrastructure to the mainstream market. To ensure the economic security of The Graph network and the integrity of the data being queried, participants use GRT token. GRT is a work token that is locked by indexers, curators, and clients in order to provide indexing and curation services for the network. GRT will be ERC-20 tokens on the Ethereum blockchain, used to allocate resources in the network. Active Indexers, Curators and Delegators can earn income from the network that is proportional to the amount of work they perform and their GRT shares. Indexers get index rewards (new releases) and query fees, while curators earn part of the query fees for the subgraphs they signal. The principal earns a portion of the income earned by the indexer they delegate to.

The Graph is a very interesting protocol with enormous future potential. It could be the most important protocol in Web3 and become a major project. In addition, investors of the caliber of Coinbase certify the seriousness of the project.

With this second article about The Graph we have discovered new things about this project.

Next week I’ll introduce you a new cryptocurrency!

So, be sure to follow my profile for receive the notification of my next articles on Publish0x!

If you'd like to see any particular cryptos analyzed, let me know in the comments!

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MikeZillo
MikeZillo Verified Member

Daily Trader, Mining Farm Project Manager, Blockchain consultant, Cryptocurrency evangelist. You can find more videos here https://www.youtube.com/channel/UCvyXx6I1C__zmLAYUXNZwQQ? Telegram: @mikezillo


Easy&Short. Cryptocurrencies made accessible
Easy&Short. Cryptocurrencies made accessible

In this section, we are going to create two article per each cryptocurrency/token. The first one will be technical, with a simplification of the Whitepaper and the second one will be about particulars of the coin. For example staking yields, particular functions and so on! I am sure you will like this very much!

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