What is The Graph (GRT)?
The Graph, also known as the “Google of Blockchains” is a decentralized indexing service for blockchain protocols. Essentially, finding specific data stored on blockchains is very difficult. The team at The Graph has figured out a clever system to catalog, index, and sort this data so it can be easily retrievable with simple database queries like GraphQL. Although this protocol’s utility is mostly focused on developers, regular users can still get involved and earn rewards for helping maintain the system.
What makes it unique?
Users can generate passive income from acting as developers, delegators, curators, or indexers;
Enables dApps to easily gain access to data that would otherwise be very difficult, if not impossible to acquire;
One of the most used dApps in the entire crypto industry launched in 2020 and gained widespread popularity during 2021;
Has multiple roles which allow users to earn in different ways, depending on their capabilities and interests;
Has experienced a massive boom in adoption with a record 20 Billion queries in April 2021.
GRT is the ERC-20 token of The Graph protocol. It was announced in October 2020 as a means to distribute rewards to active participants. Users looking to get involved with developing their own dApp may find it useful to hold some GRT to acquire some data indexing services and have a more interactive product. Alternatively, holding GRT simply as a means of investing speculation may also have merit. At the start of 2021, the value of GRT briefly quadrupled. The Graph has been one of the most rapidly growing assets in DeFi and has been building infrastructure to support other blockchains other than Ethereum, like Solana, Polkadot, NEAR, and Celo. The Graph, and GRT, have a good position in the market to be a leader in the further development of Web3.