The Graph (GRT) cryptocurrency is um Ethereum-based decentralized and open-source indexing protocol for blockchain-based projects.
In this article, we will discuss:
What is The Graph (GRT) token?
The Graph cryptocurrency is open source software used to collect, process and store data from various blockchain applications to facilitate information retrieval.
Originally released on the Ethereum blockchain, The Graph's mission is to help developers use relevant data to increase the efficiency of their decentralized application (dapp).
Graph analyzes and gathers data from blockchain before storing them in various indexes, called Subgraphs, allowing any application to send a query to its protocol and receive an immediate response.
Queries are done by dapps through GraphQL, a widely used language originally created by Facebook to gather data for a user's news feed.
Graph users who provide services to the network, called indexers and delegates, help process the data and pass it along to end users and applications.
Graph's native cryptocurrency, GRT, is used to ensure the integrity of protected data on your network. Any user, whether indexer, curator or delegate, must bet on the GRT to perform their functions and, in return, receive fees from the network.
Graph is being used by popular Ethereum dapps like Aave, Curve and unitedwap . Users who want to stay connected on the current development of The Graph can bookmark its official blog for updated details.
How does the Graph token work?
Graph's first step in aggregating data is through Graph Nodes, which continually scan network blocks and smart contracts for information.
When an application adds data to the blockchain through smart contracts, the Graph node adds the data from these new blocks to their appropriate subgraphs.
After the Graph node extracts the information, there are three types of users that contribute to organizing the data in your protocol.
These include:
- Curators – Subgraph developers who assess which subgraphs are of high quality and need to be indexed by The Graph. Importantly, curators assign GRT to subgraphs they believe.
- Indexers – Node operators in charge of providing indexing and querying services for the flagged subgraphs and must distribute GRT to provide these services.
- Delegates – delegate GRT to indexers to contribute to the functioning of the network without installing a node.
All users receive a share of the network fees for their work, depending on their role.
This data can then be easily accessed by applications seeking information that will help them run their software through the use of queries.
For example, Decentraland accesses The Graph's information to find land, fixtures, and collectibles in apps and brings them to its marketplace, allowing users to purchase them from a central location.
Who created the Graph cryptocurrency?
The Graph cryptocurrency was founded in 2018 by Yaniv Tal, Jannis Pohlmann and Brandon Ramirez, who previously worked together at various startups focused on creating tools for developers.
The Graph has raised a total of $19,5 million in token sales since 2019, including $10 million from its public sale in October 2020. During that time, around 21% of the initial token supply of 10 billion GRT was sold to investors including Coinbase Ventures, Digital Currency Group and Multicoin Capital.
Graph cryptocurrency ecosystem
There is a whole ecosystem that the project created to make the whole process work without trust: indexers, delegates and curators. They perform specific tasks to keep the protocol intact.
Indexers
These are the protocol's node operators. Anyone can be an indexer, just put in the platform's native token, GRT, and run an independent node. Its main function is to index all subgraphs depending on their relevance to various queries. In return, they receive incentives and a share of fees whenever they attend to an inquiry.
Curators
They can be owned by subgraph developers, data consumers, or other community members whose main task is to determine for indexers which subgraphs to index. Basically, its function is to identify the subgraph that is worth indexing. To become a curator, the user must place his GRT in a subgraph he wants to signal. They also earn a share of the fees if the subgraph they flag is used in a query. There is a binding curve model, however, which follows the staking of a subgraph. This means that if they are one of those who flagged at the beginning of a subgraph, they have greater curation shares.
Delegates
These are protocol participants who want to contribute to network security without having to run a node. They earn a share of the query fees and rewards earned by the indexers they choose to delegate. To do this, users need to transfer their GRT to an indexer. Selecting an indexer can be based on different performance metrics such as query rate, uptime, and other factors.
Fisherman and Referee
The role of these participants is simply to help resolve disputes, such as when data provided by indexers is inaccurate. The fisherman checks if the answer to a query is correct and the referee decides if the indexer is malicious.
GRT token
The GRT token is The Graph's native ERC-20-based token. It can be used as a means of exchange, payment of consultation fees, as well as picket. It also serves as the backbone of the platform's rewards system. There are many ways to stake your GRT token, it all depends on the role they want to play in the protocol ecosystem.
They can put their token to be an indexer, delegate another indexer, or become a curator.
Why does the GRT token have value?
The GRT cryptocurrency gets its value from its ability to ensure the successful execution of smart contracts that rely on The Graph protocol.
Most notably, GRT is the only cryptocurrency used for important network operations. For example, consumers who submit queries to indexers must pay a query fee, called GRT.
Trustees earn query fees for the subgraphs they flag, indexers earn a share of query fees and protocol rewards, and delegates earn share of indexer fees for the GRT loan.
Anyone who owns and bets on GRT tokens can participate in decisions that affect the software, voting on the proposed rules governing the use of the platform. Delegates assign their voting rights to someone else to vote on their behalf.
Investors should note that while The Graph introduced 10 billion GRT in 2020, the total supply is expected to increase by an average of around 3% per year, with an estimated 1% of tokens being withdrawn from circulation. every year.
Why use GRT cryptocurrency?
The Graph token may be of interest to developers looking to build blockchain-based applications that need to access and verify blockchain data.
Investors may want to add GRT to their portfolio if they believe decentralized applications will continually require a large amount of blockchain data to operate.
Finally, if The Graph is able to solve important problems for dapp users, it could become an essential tool for linking all applications built on the blockchain.
Cryptocurrency The Graph (GRT) Where to Buy
To acquire The Graph (GRT) cryptocurrency, there are several centralized exchange options. The most popular among users is Binance. On this platform, the most active trading pair is GRT / USDT, which has a significant trade volume.
In addition to Binance, other exchanges that offer the purchase of GRT include bybit e Cooperatives. These platforms also have a good number of users and allow for secure and fast transactions.
Top Exchanges to Buy GRT:
- Binance
- Trading Pair: GRT/USDT
- 24h Volume: $10,774,412
- bybit
- Supports GRT on multiple trading pair options.
- Cooperatives
- It also provides the ability to trade GRT with different cryptocurrencies.
When choosing where to shop, it’s important to consider factors such as fees, ease of use, and platform security. Being well-informed helps ensure a satisfying shopping experience.
How to Buy The Graph Coin (GRT)
Buying The Graph (GRT) coin is a simple process. Here are the steps one can follow to make the purchase on the Binance platform.
- Create an account: First, you need to create an account on Binance. You need to provide an email address and create a strong password.
- Verify identity: After registering, you will need to verify your identity. This step is important to increase account security.
- Deposit funds: To buy GRT, the user must deposit funds. He can use fiat currency, such as reais, or other cryptocurrencies. On the platform, he will find various deposit options.
- Find GRT: After depositing, it is time to search for The Graph coin. The user can use the search bar to quickly find GRT.
- Make the purchase: The next step is to make the purchase. The user needs to choose the amount of GRT they want to buy and click “Buy”.
- Store GRT: After purchasing, it is important to store the currency in a safe place. The user can use the Binance wallet itself or transfer it to a private wallet.
By following these steps, anyone can buy GRT quickly and safely.
Conclusion
While the success of decentralized funding (DeFi) relies on valuable projects that mirror, if not surpass, traditional funding, it certainly depends on access to blockchain data. If projects have difficulty collecting relevant information or rely on a centralized provider to collect the data they need, we can never achieve full decentralization.
The Graph token is a promising project that complements DeFi's goals. It effectively indexes blockchain data in a way that doesn't cost much for developers and users. It also gives end users the ability to benefit from maintaining an information ecosystem over which no third-party provider has control.
FAQ
Is The Graph Cryptocurrency Worth It?
Investors often wonder whether The Graph is worth buying. The answer can vary based on each investor’s strategy and market analysis. The cryptocurrency has its value in facilitating access to blockchain data, but it should be researched carefully before purchasing.
Will The Graph Cryptocurrency Rise?
Predictions about The Graph price can be uncertain. Price fluctuations depend on several factors, including technology adoption and changes in the cryptocurrency market. It is important to follow trends and expert analysis to make informed decisions.
Cryptocurrency The Graph (GRT) Price Prediction 2026
There is a possibility that The Graph will break through the $0,52 barrier and remain in the market until the end of 2026. The lowest price for The Graph will be between $0,44 and $0,52, with the price most likely to stabilize around $0,49 by the end of 2026. Despite the significant fluctuations in the value of The Graph and the controversies surrounding its environmentally unfriendly energy use, billionaire and venture capitalist Tim Draper maintains his prediction that The Graph will hit $0,52 by the end of 2026 or early 2027.
Cryptocurrency The Graph (GRT) Price Prediction 2026
By early 2031, The Graph price prediction and technical analysis indicate that The Graph cost will reach $1,49, and GRT price is expected to reach $1,49 by the end of the year. Furthermore, GRT may reach up to $1,37 in value. The period between 2025 and 2031 will be significant for the growth of The Graph.
Is The Graph a good investment?
Determining whether The Graph is a good investment involves assessing its growth potential and the associated risks. The technology that powers The Graph is innovative, but investing in it always involves risk. Consulting market analysis and expert opinions can be helpful.
What is the future of GRT currency?
The future of GRT coin depends on several factors. The increased adoption of decentralized applications and the need for efficient data access could benefit the coin. Monitoring the development of the project and changes in the industry is essential to understand the future prospects.
Is The Graph Coin safe?
The security of The Graph Coin is a valid concern for many investors. The cryptocurrency uses blockchain technology that has robust security features. However, like any cryptocurrency investment, there are risks associated with fraud and volatility.
How to store The Graph Crypto securely?
Storing The Graph securely is crucial to protecting your investment. Digital wallets and hardware wallets are recommended options. These solutions offer more security than leaving your cryptocurrency on exchanges.
What are the risks of investing in The Graph?
Investing in The Graph involves several risks, such as market volatility and competition with other cryptocurrencies. Furthermore, the success of the technology depends on its acceptance in the market. Conducting in-depth research and considering risk factors is important before investing.