The Graph (GRT): What is it?
The Graph crypto by Crypto Nation – September 06, 2021
By Crypto Nation – September 06, 2021
The Graph crypto card summary:
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The Graph’s Fundamental Data
- Name: The Graph
- Symbol: GRT
- Type: AI & Big Data, Enterprise Solutions, DeFi
- Consensus: Proof Of Stake (PoS)
- Year of creation: 2020
- Founders: Yaniv Tal, Brandon Ramirez and Jannis Pohlmann .
- Official website: thegraph.com
- Mainnet: Yes – thegraph.com/explorer
- Whitepaper: thegraph.com/docs
- Code: github.com/graphprotocol
- Twitter: @graphprotocol
Market data from The Graph
Below are the basic market informations regarding this cryptocurrency:
- Price: It is expressed in dollars ($). There is also its percentage change (%) over the last 24 hours.
- Rank: Ranking of this cryptocurrency among all those referenced on CoinMarketCap. This is done according to the market cap.
- Market cap: Market capitalization represents the total dollar ($) value of all coins in circulation.
- Volume: It represents the total dollar ($) amount of the cryptocurrency in question traded over the last 24 hours.
What is the goal of The Graph project?
The Graph is a decentralized indexing protocol, operating in the form of open APIs which are also called “subgraph”. They allow you to send requests to blockchains such as those of Ethereum or Filecoin for example.
These APIs can be easily created by anyone, allowing quick access to data.
The main purpose of The Graph can be compared to that of Google. This indexes web pages, while The Graph also takes care of indexing, but using data from blockchains.
The origin of the project
The founding team of The Graph includes Yaniv Tal, Brandon Ramirez and Jannis Pohlmann.
Tal and Ramirez studied electrical engineering at USC and worked together at MuleSoft , an API tools development company that went public and was subsequently purchased by SalesForce.
Together, they previously co-founded a start-up, within which they developed an immutable database called DatomicDaytonic.
The Graph was born from this vision, to create immutable APIs and provide access to data, using the GraphQL query language.
What is its use?
The utility of the GRT token is to be able to allocate resources in The Graph network. This makes it possible to set up a very specific contribution for indexers, curators and active delegates.
This contribution will be awarded based on the amount of work they perform as well as their participation in the network.
The contributors will therefore receive an income proportional to their actions carried out.
In addition, the TSO also gives a right of governance, making it possible to take part in the vote in certain decisions of the project.
Management of the economy (as of 06/09/2021)
The maximum supply of GRT tokens is 10 billion tokens.
A new token issue can be carried out annually, up to 3%, depending on the governance results.
In addition, a burn system has been put in place. This results in the destruction of approximately 1% of all filing fees and taxes.
There are currently 4.7 billion GRTs in circulation, or 47% of the total.
Less than 1% of the supply has been burned so far.
Diagram of the evolution of the cryptoactive
Where to store your cryptocurrency
If you prefer to take your cryptocurrencies out of centralized exchanges, you can store your GRT through various solutions:
- Trust Wallet, bought by Binance, it has become the benchmark mobile wallet.
- Ledger, very secure wallet hardwares, the best known being the Ledger Nano S.
- MetaMask, the decentralized wallet par excellence.
More details on the different types of cryptocurrency wallets on our dedicated page, accessible by clicking here.
Our opinion on this project
The Graph is interesting because of the services it offers as well as the target market sector.
Very innovative, this recent project provides a technical solution that will undoubtedly be worth gold in the coming years. The Google of blockchains is only at its introduction and it will certainly be an obvious answer to future problems.
GRT evolves without any real competitor and continues to push its innovative image, growing peacefully before being able to unleash its true power.
Its open-source aspect brings one more reason to believe in its strong potential by providing transparency, a concept so dear to the world of cryptocurrencies.
