🔔Foreword:

There is a huge amount of data stored on the Ethereum blockchain, but it is not easy to quickly find the required information from this huge amount of data. The emergence of The Graph provides an innovative solution to this problem, allowing developers to access and query data on Ethereum more efficiently and reliably.

💥Summary:

The Graph is a pioneering protocol in the Web3 era, dedicated to enhancing the accessibility and systematization of blockchain data. It can be regarded as the Google in the blockchain field.

The Graph’s native token, GRT, powers its ecosystem, incentivizing data curation and driving network participation.

The Graph builds a community-supported ecosystem to empower innovation and shape the future of decentralized technology.

1️⃣ Enter the text: What is Graph?

The Graph (GRT) is an open source, decentralized blockchain data indexing protocol specifically designed for use on the Ethereum network. It acts like a search engine for blockchains, allowing developers to quickly and systematically query data from the blockchain.

As a storage and indexing application, The Graph is classified by market investors as an AI-related currency. After OpenAI launched GPT-4o in May, its popularity has not declined to date, and it also led to an increase in AI-related projects at the time.

2️⃣Graph's core functions and working principles:

Decentralized Oracle Solution: The Graph is similar to a decentralized Oracle solution, designed for processing data for Web 3.0. It provides data retrieval services through an API called Subgraph, allowing developers to easily obtain the required data from the blockchain.

Decentralized Indexing Protocol: The Graph Network is a decentralized indexing protocol that is specifically designed to organize and manage data on the blockchain. Developers can access subgraphs using the GraphQL query language to obtain indexed data on the network. This design allows developers to build and run fully decentralized applications without having to build complex infrastructure themselves.

Driver components: The operation of the network depends on four main components:

1. Indexers: Indexers are responsible for providing and managing data. They run nodes and need to stake GRT tokens as security collateral. If the data provided by the indexer is inaccurate or incomplete, they will face penalties and may lose part of their stake.

2. Curators: Curators decide the trust level of data sources by signaling on the subgraph and instructing indexers which APIs should be used. They do this by depositing GRT tokens in the subgraph and collecting part of the fees.

3. Delegators: Delegators are responsible for staking equity to indexers to support the security and stability of the network. They do not directly operate nodes, but participate in existing staking to share part of the node revenue.

4. Consumers: The final data users, such as trading platforms and decentralized applications. Consumers pay indexers to purchase and integrate high-quality data, which can be directly integrated into their services or platforms, greatly enhancing the functionality and value of the application.

3️⃣GRT coin usage:

GRT is an ERC-20 token built on Ethereum. GRT (Graph Token) is an essential tool for coordinating the work between the three operators (indexers, managers and delegators) and the data users (consumers). It is designed to allow users to directly participate in the protocol to provide or obtain data. This token is essential for the economic security of the network and the integrity of the data.

4️⃣Token Economy

According to the data provided by #Binance, the GRT token ranks 44th with a market value of $2.27 billion, a perfect diluted market value of $2.578 billion, a total of 10.799 billion GRT, and a circulating supply of 9.51 billion GRT.

5️⃣Summary:

The Graph brings together powerful protocol technology, an active community, and unique contributors to form a vibrant ecosystem that demonstrates the potential of Web3 technology and empowers developers and builders who are committed to realizing the vision of decentralized technology.

The Graph Protocol not only improves the systematization and accessibility of data, but also democratizes decentralized technology by empowering individuals to participate in the decentralized ecosystem. The protocol demonstrates the power of community participation and the unlimited potential of blockchain technology to drive us towards a more open, accessible, and innovative future.