Accessing and processing data is an essential part of all systems, software, and devices. When you think about blockchain data and database management, it all gets more difficult. The distributed ledger technology database is exchanged and stored in a decentralized network of nodes, and accessing that distributed data is even more challenging.
The Graph, founded in 2018, San Francisco, USA, is a decentralized protocol for indexing and retrieving data from blockchains. The Graph is a solution on how to optimize database access
What is The Graph (GRT)?
The Graph (GRT) is a decentralized protocol that indexes and retrieves data from blockchains, starting with Ethereum. It helps you to query difficult to query data directly.
Graph helps organize blockchain data and make it easy to access. It powers many of the most used applications in DeFi and the larger Web3 ecosystem today. Anyone can build and publish subgraphs, which are open APIs that applications can query using GraphQL.
Subgraphs make it easy for developers to build on blockchains. What Google does search, The Graph does for blockchains.
How The Graph (GRT) works?
The Graph learns what and how to index Ethereum data based on a subgraph description, called the subgraph manifest. The subgraph description defines the smart contracts of interest for a subgraph, the events in those contracts that need attention, and how to map event data into data that The Graph will store in its database.
Once you have written the subgraph manifest, you use the Graph CLI to store the definition in IPFS, and tell the hosted service to begin indexing the data for that subgraph.
This chart provides more details about the data flow once a subgraph manifest has been deployed, processing Ethereum transactions:
The procedure follows these steps
- One dapper Add data to Ethereum through smart contract transactions.
- Smart contracts generate one or more events while processing the transaction.
- The Graph Node continuously scans Ethereum for new blocks and data for your subgraph that they can contain.
- The Graph Node finds the Ethereum events for your subgraph in these blocks and runs the mapping handlers you provided. A mapping is a WASM module that creates or updates data entities that the Graph Node stores in response to Ethereum events.
- The dApp queries the Graph Node for indexed data from the blockchain, using the node's GraphQL endpoint. In turn, Graph Node will convert GraphQL queries into its underlying data warehouse queries to fetch this data, leveraging the store's indexing capabilities.
- The dApp displays this data in a rich user interface for the end user. They use it to issue new transactions on Ethereum.
- Cycle repeats.
What is the role of The Graph?
There are many ways to contribute to The Graph network and the open data economy for both technical and non-technical individuals.
- indexer : are node operators in The Graph that stake The Graph (GRT) token to provide indexing and query processing services. Indexer earns query fees and rewards indexers for their services. Required technical level: Advanced.
- Curator: are subgraph developers, data consumers, or community members who signal to Indexer which APIs should be indexed by The Graph. Technical level requirements: Medium.
- Delegator: are individuals who want to contribute to network security but do not want to run Graph Node by themselves. Delegators contribute by delegating GRT to the existing Indexer and they earn a portion of the query fee and index reward. Technical level requirements: Low.
- Consumer: is an end user of The Graph that queries subgraphs and pays the query fee to Indexer, Curator and Delegator. Consumers can be developers or projects that pay for queries themselves for their applications like AWS or cloud service costs. However, some applications pass the query fee to the user or include the cost in the product fee. Consumers will pay for queries through a "gateway" or wallet that will be built on top of open source contracts in The Graph Network.
What is a GRT token?
GRT is a native token of The Graph ecosystem and is used for many different purposes.
Basic information of GRT token
|Token Standard||Native token|
|Token type||ERC 20|
|Initial Circulating Supply||1.245.666.867 GRT|
|Initial Total Supply||10.000.000.000 GRT|
The total GRT supply at the mainnet launch will be 10 billion tokens and the issuance of new tokens as index rewards will start at 3% annually and subject to future independent technical governance.
Distribution of GRT tokens
The Graph Foundation believes that the initial GRT distribution should reflect the value of the contributions made to the protocol so far. At the same time, leave funding for future contributors. They have done an extensive job of liaising with all developers and community members, contributing to the protocol, and developing the The Graph ecosystem up front.
Thousands of individuals and organizations have devoted considerable time and resources to The Graph so far.
Distribution as follows:
- Graph Foundation: 58%
- Educational Programs: 6%
- Curator Program Grant: 9%
- Testnet Indexer Rewards: 9%
- Bug Bounties: 1%
- Public GRT Sale: 12%
- Strategic GRT Sale: 6%
GRT token issuance schedule
GRT testing and distribution schedules range from 6 months to 10 years depending on the team. Approximately 12,5% of the total supply (1.245.666.867 GRT) is expected to be in circulation at launch. Please note, the circulating supply does not include purchasable but non-transferable (locked) tokens.
GRT token sale
GRT sale basic information
- Tiker: GRT (ERC20)
- Date: October 22, 10 at 2020:11 am
- Where to eat: sale.thegraph.com, Ethereum Blockchain
- Registration closure: October 15, 10 at 2020:14 am
- Amount to be sold: 400.000.000 preGRT (converted to 400.000.000 GRT)
- Token price: 0,03 $ / preGRT
- Currencies accepted: ETH
- Personal Purchase Limit: 1000 $ - 5000 $ per subscriber
- Lockup: Unlocked at launch
- Condition: Non-US participant only, some jurisdictions excluded.
The Graph's GRT sale is designed to optimize distribution for community members intending to join the network as Indexers, Curators or Delegators.
It will take place in 3 phases with an approximate start time as follows:
Preferred list of subscribers will be allowed to purchase up to the personal limit. Participants were marked as priority based on community contribution and anti-sybil discovery during registration. Time: 1 day - October 22, 10 at 2020:11.
All registered participants will be allowed to purchase up to their personal limit. At least 100.000.000 GRT will be earmarked for Phase 2 to ensure a second day. Time: 1 day - 23/10/2020 at 11:00.
All registered participants will be allowed to purchase whatever amount is available. In case phase 2 is sold out, there will be no phase 3. Duration: 1 day - 24 October at 10:11.
As soon as all tokens available for sale are sold in Phase 2 or 3, the sale is over. The period time is approximate and will be based on the Ethereum block number to be announced on October 21, 10.
Indexers and active community members
In addition to the 4% sold during periods 1-3 of GRT Sale, the 2% strategic allocation was recently sold to Indexers and active community members as part of the public token sale. There were 200.000.000 GRT sold for $ 0,026 / GRT, for a one-year lockup period.
The tokens sold during the token sale will be non-transferable pre-functional tokens (preGRT). At the time of network launch, smart contract will be deployed with the original distribution of token including 1: 1 mapping of preGRT to GRT.
Graph Network starts up as soon as there is enough confidence in the security and stability of the testnet. After completing the remaining security checks, it is estimated that this will happen 30-60 days after GRT Sale.
What is The Graph Token (GRT) used for?
- Encourage the steps in the protocol.
- Indexer: The operators stake GRT to provide indexing and query processing services. They earn query fees and rewards for Indexer.
- Curator: Indicates which API should be indexed by the indexer. Stake GRT into a bonding curve to signal on a particular subgraph. Earn part of the query fee for the subgraphs they signal. Encourage the highest quality data sources. The sooner they signal they are earning more GRT tokens.
- Delegator: Delegate the GRT to the Indexer and they earn a portion of the query fee and index reward.
- Consumer: Query subgraphs and pay query fees for Indexer, Curator and Delegator
- The purpose of the GRT token is to eliminate single point of failure and decentralize the protocol.
GRT Token burning
Part of the protocol query fee is burned, is expected to start at ~ 1% of total protocol query fee and depends on future technical governance. The aforementioned withdrawal tax that Curator and Delegator incur upon withdrawing their GRT will also be burned, as well as any refunded rewards that have not been received.
How to earn GRT tokens?
- Join GRT Token Sale
- Join The Graph ecosystem. Anyone can be an Indexer, Curator or Delegator
- Bug Bounty program to help find vulnerabilities and protocol security
- Participate in hackathon competitions
Which exchange does GRT token
Currently GRT has not circulated on the market, will update when there are detailed information.
In which wallet is GRT stored?
Join The Graph Network
More than 2.300 subgraphs have been deployed by more than 3.000 developers and over 200 Indexers who have participated in the testnet are encouraged. As the project approaches the mainnet launch of The Graph Network. There will be many ways you can participate in The Graph ecosystem:
- Track over 200 Indexers in “Mission Control Incentivized testnet”.
- Spin up a node as Programmer only the item before launching the mainnet later this year
- Register to become a Curator in the Curator Program
- The Ambassador's upcoming program to develop The Graph community
- The Bug Bounty program helps find vulnerabilities and protocol security
- Become an Indexer or Delegator when launching The Graph mainnet
Potential Assessment of The GrapH (GRT)
The future of The Graph project
The project is in the early stages of a revolution in how people collaborate and organize on the internet. The crypto industry is redefining the future of work and entertainment and empowering individuals to contribute their talents to the global economy with rules of fairness and transparency.
Graph is organizing data for the Crypto economy and making it easily accessible. By rearranging the website and money itself around trustworthy crypto origins, it is possible to unleash human potential, creating scalable original internet organizations and reaching new heights. as a global civilization.
Graph's product market relevance is noteworthy with more than 3.000 subgraphs deployed, thousands of developers, and over 300 million queries processed per day.
Backed to the quality of the project can be named as: Coinbase Ventures, ... Details are shown below:
Should you invest in GRT token?
The outstanding features of the project can be summarized as follows:
- A lindex protocol for querying networks like Ethereum and IPFS. Anyone can build and publish open APIs, called subgraphs, that make data easily accessible.
- Subgraphs can be made up of the global graph of all public information in the world. This data can be transferred, organized and shared across apps so anyone can query with just a few keystrokes.
- Forget custom servers: Before The Graph, teams had to develop and operate a proprietary index server. This requires substantial hardware and engineering resources and breaks the critical security attributes needed for decentralization.
- A lot of things were built: Defi, Governance, Grants & Philanthropy, Marketplaces, Entertainment, Social. For details, please visit the link: http://everest.link/categories/
Great solution and stakeholder-recognized applications will cause the GRT token's increase in listing on exchanges. Learn carefully about the project as well as the investment decision is yours.