The Graph — Google Of Blockchains?

Introduction

The Graph is an indexing protocol for querying blockchain data that enables the creation of fully decentralized applications.

Indexing

Indexing, in essence, allows for reducing the time required to find a particular piece of information. A real-life example is an index in a book. Instead of going through the whole book page by page to find a concept we’re looking for, we can find it much quicker in the index, which is sorted alphabetically and it contains a reference to the actual page in a book.

The Graph

The Graph aims at becoming one of the main core infrastructure projects necessary for building fully decentralized applications. It focuses on decentralizing the query and API layer of decentralized web (Web3) by removing a tradeoff that dApp developers have to make today: whether to build an app that is performant or truly decentralized.

The Graph Architecture

The easiest way to explain this is to focus on different network participants first.

The GRT Token

GRT is a utility token that plays an important role in The Graph Network design. As we mentioned earlier GRT is used by Curators to signal subgraphs that are worth indexing. On top of this, it’s staked by Indexers to keep their incentives in check. Besides that, people who own GRT tokens, but don’t want to be Indexers and run the GRT node, can become Delegators and earn a portion of Indexers reward. And also, Consumers pay for their queries in GRT.

Future

The Graph core team aims at decentralizing the protocol further by launching on-chain governance — The Graph Council — in the future.

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