CoinDesk • Aug 23, 23
AI-Related Tokens Hold Gains After Nvidia's Big Beat Solidifies Bullish Outlook
The tokens such as FET, GRT, AGIX rose/fell tktk
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Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards.
The price of The Graph has risen by 1.59% in the past 7 days. The price increased by 3.23% in the last 24 hours. In just the past hour, the price shrunk by 0.11%. The current price is $0.0894 per GRT. The Graph is 96.90% below the all time high of $2.88.
The current circulating supply is 9,232,627,385.52 GRT.
GRT is an Ethereum token that powers The Graph, a decentralized protocol for indexing and querying data from blockchains. Just as Google indexes the web, The Graph indexes blockchain data from networks like Ethereum and Filecoin. This data is grouped into open APIs called subgraphs that anyone can query.
is a for indexing and accessing data. The Graph indexes blockchain records from networks like in the same way that Google indexes the web. is a global data layer that runs on top of blockchains and storage networks, acting as a uniting and organizing factor for the decentralization movement. In simple terms, The Graph organizes the data and makes it easy to retrieve it from the blockchain.
Indexing a blockchain is a hard task, and many complex smart contracts that store data on blockchain make it difficult for a DApp to answer a simple query. As per , the Graph protocol aims to make it easy to retrieve data from the blockchain by using subgraphs. According to the protocol, a seeks to specify which Ethereum data the protocol indexes and how it is being stored. Subgraphs, which are open APIs (application programming interfaces), organize this information that anybody may use to query. Subsequently, with just a few keystrokes, this data can be transformed, categorized, and shared across apps for anyone to query. All data is saved and processed in a secure manner on open networks. The Graph protocol aims to query this data quickly, reliably, and securely.
In simpler terms, seeks to serve as an integration layer for DApps, as applications in the same domain require a mechanism to collaborate and agree on standardized names to query data. Consequently, applications use a query for operations such as filtering, sorting, and grouping to locate data from large data sets. These query executions further necessitate the creation and maintenance of indexes, without which the executions would be unreasonably slow. Therefore, to achieve a balanced ecosystem, all of this needs economic rewards. Accordingly, The Graph aims to provide this infrastructure layer for .
is administered by an open network of participants, including indexers, who run the servers that supply data; curators, who organize data; and delegators, who their to provide security to the network. These participants feed data to Web3 applications and offer services to the network. Subsequently, consumers interact with the apps and consume the information. As a result, network aims to build an open marketplace of indexers and curators that collaborate to index and provide all DeFi and Web3 data in a decentralized manner.
Deployed on the Ethereum blockchain, GRT is the native token of The Graph and is the platform’s cryptocurrency. GRT is an -based work token and is primarily utilized for allocating resources in the network. Participants stake and utilize Graph tokens (GRT) to maintain the economic security of the network and the integrity of data queried. Active indexers, curators, and delegators may provide services and earn revenue from the network based on their work and how much GRT they own.
The Graph protocol was launched in , cofounded by Brandon Ramirez, Yaniv Tal, and Jannis Pohlmann. Since January 2019, has been offering a hosted service with over 2,900 subgraphs for Web3 and DeFi apps. The idea of the Graph ecosystem was conceived and developed by Graph Protocol Incorporation, which was later renamed Edge & Node. Further in 2020, The Graph Foundation was announced to support the diverse network and the various network participants. Eva Beylin was nominated as the director of the foundation. She is experienced in financials, data, and business strategy and worked with OmiseGO and EF.
In the , contributors such as the indexers, delegators, and curators need to stake GRT to participate. Accordingly, indexers stake GRT to supply services in the query market, and delegators delegate GRT to indexers. Further, the curators signal GRT on subgraphs to indicate the subgraphs that are to be indexed.
The network aims to the indexers that stake GRT in the marketplace through query fees for indexing services and sending queries to subgraphs. Additionally, both the indexers and delegators earn GRT in the form of indexing rewards, a new coin issue distributed proportionally to curator signal and allotted stake.
Notably, consumers are The Graph’s end users, who query subgraphs and pay query fees to indexers, curators, and delegators. These consumers, according to the network, are expected to be developers or projects that spend query fees for their apps in the same way that they would pay for cloud services. Some applications, however, pass on query fees to users or include the expense in product pricing. The Graph network seeks to enable consumers to pay query fees using gateways or wallets that open-source contracts develop on the network.
The GRT tokens can be easily traded using exchanges like Coinbase.
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The current market cap of The Graph is $824.94M. A high market cap implies that the asset is highly valued by the market.
The all-time high of The Graph is $2.88. This all-time high is highest price paid for The Graph since it was launched.
Over the last 24 hours, the trading volume of The Graph is $19.10M.
The current circulating supply of The Graph is 9.2 billion.
The median time that Coinbase customers hold The Graph before selling it or sending it to another account or address is 86 days.
The Graph ranks 13 among tradable assets on Coinbase. Popularity is currently based on relative market cap.
Currently, 96% of Coinbase users are buying The Graph. In other words, 96% of Coinbase customers have increased their net position in The Graph over the past 24 hours through trading.
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