At the time of writing this review (20 Dec 2020) about The Graph, their token GRT, listed on Binance a day ago, is already trading 7 times higher than the initial price!
In this article, we are going to review The Graph project, values & vision, whitepaper, team, and what problem they are trying to solve.
Price and capitalization of The Graph (GRT)
You will find below the main information concerning the price and the capitalization of GRT within particular :
- The price: in dollars and in bitcoins, as well as the price variation over the last 24 hours
- Rank: GRT’s worldwide ranking compared to other Cryptocurrencies (the ranking is based on the market cap or capitalization of each crypto)
- The market cap: which represents the capitalization of GRT in dollars, i.e. the cumulative value of all outstanding tokens.
- The volume: which corresponds to the total amount of GRT tokens exchanged over the last 24 hours (in dollars)
What is The Graph (GRT)?
Announced in June 2018, The Graph is introduced as a decentralized query protocol for blockchains. The project is supposed to help developers building decentralized applications (dApps) on the Ethereum blockchain.
The project is an indexing protocol for organizing data from blockchains and make them easily accessible. The problem that most developers are facing while building dApps on Ethereum is that you cannot really work on an Ethereum full-node because the data aren’t stored in an efficient way. In order to create a dApp, you then need to load all those data to be able to process them. Thus, in the past, developers had to build their own indexing servers where they are gathering all the data they were needing. Build & maintain those servers takes time & resources.
The Graph solves this problem with a protocol called “SubGraph“, which is defined as an open API that anybody can query. This SubGraph defines the type of data you want to analyze and how you can process that data. Once built, a SubGraph can be deployed on an existing centralized service, that is going to be decentralized in a near future, where all the indexing protocols will be performed on independent sub parties providers.
The Graph (GRT) Usecases
Right now, The Graph primarily helped dApps to optimize their processes. Many already existing big applications built on Ethereum are using The Graph, i.e., Uniswap.info, the Synthetix exchange, decentralized marketplaces, Balancer, Aragon etc.
In the future, The Graph aims to be organizing all of the data that is part of the crypto-economy. The underlying planning for the organization of the data by sourcing it from the blockchain, and determine how to exploit this data needs to be more scalable.
In the Graph network, they have a few different roles:
- Indexers, running the servers, and optimizing the access to the data
- Curators, building & organizing subgraphs.
- Delegators, delegating stake to Indexers to contribute to securing the network without running a Graph Node
With the decentralization of the network, anybody can build a subgraph and earn with it. Curators receive fees when users are using their subgraphs.
Who are the founders of The Graph?
Co-founder & Research Lead
Tech Lead & Co-Founder
BD + IR
How to purchase GRT?
However, if you wish to purchase GRT, it is possible on many exchanges, including Binance, Coinbase, and OKEx.
Using Binance to Buy GRT
Launched in 2017, Binance is one of the most popular crypto exchanges in terms of trading volume. As a reference for crypto/crypto exchanges (more than 180 crypto-currencies available for trading), Binance has created a fiat gateway service to offer more options to purchase crypto-currencies directly with cash currencies (euros, dollars…) via bank transfer or credit card.
The most popular market pairs (including GRT) on Binance are :
As you can see, to get GRT on Binance, you will first need to deposit cryptocurrencies like Bitcoin or Ethereum or buy stablecoins or other cryptocurrencies supported by Binance that you can then exchange for GRT.
👉 Read: Binance Tutorial