If Google is the Indexer For Web2 @ Web3, “The Graph Is Decentralized” – A Beginner’s Take

1/15 If Google is the Indexer for Web2 @graphprotocol is

the Indexer for Web3

Today I will talk briefly about TheGraph

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2/15 Blockchain data access is challenging and time-consuming, as blockchains were not created to be easily searched or queried. TheGraph provides a simple and efficient solution to this problem

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TheGraph is a decentralised,and open-source protocol and implementation for indexing and querying data from blockchains.

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4/15 Currently, TheGraph is using a hosted service to process over 60 Billion queries per month. They are processing queries on data such as token prices, trade volume, and liquidity for applications such as @Uniswap @coingecko and @synthetix_io

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5/15 The mission of @graphprotocol is to move away from this hosted service(The migration from Hosted-service to Mainnet will take place in Q1 2023) and eliminate the possibility for single points of failure or control in APIs, servers or databases.

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6/15 TheGraph network allows for applications  to be serverless, meaning they will be unstoppable and uncensorable, as they will no longer rely on any single point of failure. The network will instead run on a network of nodes that are incentivized to keep the service running

7/15 To ensure the integrity of the data being queried, users of The Graph will use Graph Tokens (GRT). GRT is an ERC20 token that is awarded to and locked up by those who are providing services to TheGraph.

Those who are consuming services through The Graph will pay in GRT.

8/15 Interaction with @graphprotocol can be through one of four roles.

1/Indexer 2/Curators 3/Delegators 4/costumer

I will talk about it briefly

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9/15 Indexer Staking: Indexers in TheGraph protocol need to deposit at least 100,000 GRT as a way to provide economic security. The deposited GRT allows Indexers to be discoverable

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10/15 Curators :TheGraph Curators are subgraph developers, data consumers or community members who signal to Indexers which APIs should be indexed by @graphprotocol...

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11/15 ... Curators deposit GRT on a bonding curve to signal on a specific subgraph and earn a portion of query fees for the subgraphs they signal on; incentivizing the highest quality data sources

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12/15 Delegators help to secure TheGraph by delegating their GRT to Indexers who are trustworthy and reliable. The GRT delegated by Delegators helps the protocol direct query traffic to the appropriate Indexers

I invite you to read about delegation🌹

Delegating - The Graph Docs

13/15 Consumer Payments: Consumers, such as dapp developers, use GRT to pay for queries. Consumers explore TheGraph protocol to identify Indexers that provide the data they are looking for...

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14/15 There are a number of different factors consumers use when selecting an Indexer to query the data from, including the Indexer’s pricing strategy, performance, data freshness, or perceived reputation

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15/15 Congratulations to @graphprotocol for their continued hard work and development, we await the launch of mainnet(Q1 2023)

TheGraph = WEB3 Fuel ⛽ = Decentralized = The Future 👨‍🚀 🌟👩‍🚀

If you want to learn more about The Graph and web3, follow me @GRTARAB

This post is based on this twitter thread.