Why GRT Is An Undervalued Project?
The future of web3 is promising, and The Graph Protocol (GRT) is well-positioned to benefit from this trend. As more people embrace decentralized technology, the demand for data and AI solutions are increasing. GRT is already providing valuable services to the Ethereum and IPFS communities, and it has partnerships with companies like Gnosis, Ocean, and Uniswap. The potential for future growth is immense.
GRT is a platform that makes it easier for blockchain data developers to access and query data from the Ethereum network. The platform was created to address the problems that many other blockchain indexing platforms face, such as security, finality, and query fulfillment. With GRT, developers can build and publish various APIs, known as subgraphs, that perform queries over a GraphQL interface. This allows for easy access to any Ethereum data through simple queries.
The mission of GRT is to create applications that don’t require servers and make web3 accessible to everyone.
To index Ethereum-based data, GRT uses the Subgraph Manifesto. This is a subgraph description containing data about smart contracts, blockchain events, and the process of mapping event data together before it’s all stored in the platform’s database. The flow of data from transactions, subgraph manifests, and the database follows a specific structure.
First, decentralized applications add to the Ethereum blockchain using smart contracts. This data contains a record of all events and transactions up to the point where they reach finality. The GRT node then scans the entire blockchain database, collecting new data and filtering out relevant information to user queries. The node identifies each piece of information that answers the queries from subgraphs. GraphQL is the link between the blockchain data and the application to which the user wants to feed it. Finally, users can view their query results from within their applications after the whole process.
Users can use the GRT Explorer to browse the subgraphs that already exist on the platform. Each subgraph has a playground where users can perform queries using GraphQL. Over 2,300 subgraphs have already been deployed and are being used for various applications, including Aave, Aragon, Balancer, Uniswap, and many others.
The GRT’s ecosystem comprises various individuals, including consumers, indexers, curators, delegators, and arbitrators. Consumers are the users who pay indexers for their searches and can be web services or any other software connected to GRT. Indexers are the nodes that maintain the indexing function of the platform, while curators identify subgraphs that contain valuable information to the platform’s index. Delegators are other stakers who delegate their GRT to existing indexers and earn a portion of the rewards.
GRT is the platform’s native ERC20-based token, which can serve as a medium of exchange and a reward for community participants who act as indexers, curators, and delegators. To acquire shares in the nodes that run the entire platform and sell their services on the query market, users must stake their GRT. In return, they receive financial rewards. However, if the indexers are malicious and, for example, intentionally alter the data, they will be punished by having their staked GRT tokens taken away.
The GRT’s long-term plan is to transfer ownership and management of the platform to the community in response to the shift of many blockchain applications to a decentralized governance model.
In conclusion, GRT is an innovative platform that makes blockchain data more accessible and easier to use. With its growing interest and institutional support, it is an exciting time for the platform.
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