Almost everyone is likely to have come across Ethereum, not just those passionate about cryptocurrencies, but interested developers out there too. But don’t worry if you’re still a newbie – Ethereum is one of the leading blockchains for decentralized apps and tools.
And as we’ve discussed before, there is a range of possible products that root from this well-known blockchain Ethereum.
Similarly, a lot of different Ethereum-based protocols are gaining popularity, Today, we present to you an insightful look at the growing cryptocurrency, The Graph, with an extensive and organised The Graph crypto review.
What Is The Graph Crypto?
Let’s begin our The Graph crypto review with a short trip tracing back to its origin; What exactly is The Graph?
An open-source, decentralized network, The Graph (GRT) is an indexing protocol primarily for querying blockchain data in networks like Ethereum. Now, don’t let the technical terms scare you – this ‘indexing’ protocol simply organizes data on the blockchain so that developers can run their frontend operations efficiently.
The protocol also offers additional features such as enhanced accessibility to dApps (Decentralized applications) through subgraphs; and you can read more on this later.
Who Founded The Graph?
The co-founder and CEO of this genius protocol, The Graph, is Yaniv Tal. Along with his founding team, the members used their firsthand experiences of difficulties that developers face on the Ethereum blockchain. The team members include proficient software engineer David Lutterkort, and research lead Brandon Ramirez.
When Was The Graph Crypto Created?
After 3 intensive years of Beta testing, The Graph’s mainnet was launched on December 17th, 2020, which is pretty recent. And throughout the past few months, The Graph has gained popularities and displayed market shifts (as you can observe in the analytic segments of this The Graph crypto review).
The Graph Investors
According to Crunchbase, The Graph has 15 venture capitalists in total, with one lead investor included. Overall, The Graph has held 7 funding rounds and raised around $19.5 million totally.
A few of the recognizable investors are listed here:
- Coinbase Ventures
- Framework Ventures
- Digital Currency Group
- Launch Code Capital
- DTC Capital
- Digital Asset Capital Management
Is The Graph Decentralized?
Once you’ve gotten past the overview of what The Graph is, you might wonder – is it decentralized?
Yes, in fact, The Graph is a fully decentralized platform built on top of the famous decentralized blockchain, Ethereum.
How Does The Graph Crypto Work?
Let’s dive into the most significant part of our The Graph crypto review; how does it work?
In simple terms, The indexing protocol functions as a platform for querying data on the blockchain, and utilizes ‘GraphQL’ (query language). As a consequence, users can experience seamless transactions and efficient development operations.
With The Graph, developers are able to create and launch various APIs (Application Programming Interface) known as ‘subgraphs’.
Applications can query these subgraphs using the language GraphQL. Eventually, a complete and understandable description of the data can be obtained.
How Many GRT Tokens Are There In The Graph?
With a total supply of 10 billion The Graph crypto coins, GRT tokens are said to have a maximum supply of around 10,057,044,431.
What Makes The Graph Crypto Unique?
Although the protocol is still brandnew to the DeFi world, The Graph comes with loads of unique, beneficial features. So how about we take a look at what makes The Graph special?
Efficiently eliminating the technical barriers beginners may face in querying, The Graph now supports not just Ethereum, but IPFS (InterPlanetary File System) and PoA (Proof of Authority) networks as well.
A crucial part of the network, Graph Nodes are necessary to locate information and improve the querying process by scanning the entire database. This large scale scanning results in the collection of any relevant data required by the users.
In addition to Graph Nodes, The Graph utilizes Indexers, Delegators, Fishermen and Arbitrators as well, adding a cherry on top of the uniqueness of the network. Quite interesting, am I right?
Reading further into this The Graph crypto review, you will come across more vital information and segments of a detailed The Graph crypto guide (how and where to buy, etc).
Is The Graph Crypto A Good Investment?
Hold on – have you taken a liking to the cryptocurrency? Then let me assure you, investing in The Graph is certain to bring you a profitable long-term investment!
By April 2021, GRT is already used by many platforms such as the famous decentralized exchange Uniswap. And according to multiple price predictions, GRT is off to a bright future and will see advantageous price rises as time goes on.
So buckle up, and continue with our The Graph crypto guide to get your hands on this amazing investment opportunity.
Where Can I Buy The Graph?
Now you’re familiar with the basics of The Graph – but are you worried about where exactly to buy The Graph tokens?
Despite being a new member to the DeFi protocol family, The Graph has gained considerable popularity and is now available on many recognized crypto exchanges.
If you’d like to have a clear idea of what the token specifically is, this is outlined in the latter part of this The Graph crypto review.
It is recommended to ensure you have a balance of another currency like Ethereum, but you can now purchase GRT using fiat currencies as well.
Listed here are some of the top rated exchanges to find The Graph tokens, and some currencies that you can buy or sell GRT with.
- Binance: USDT, BTC, ETH
- Coinbase Pro: USD, BTC, GBP
- Huobi: USDT, ETH, BTC
- Uniswap: ETH
- Kraken: USD, AUD, ETH, BTC
How Do I Invest In The Graph?
If you’ve paid close attention to details about The Graph, you might consider to make an investment in GRT. Here’s how you can do just that:
- Sign up with an exchange, if you are a new user.
- Once you’ve created an account, you can purchase GRT using fiat money. If you have other cryptocurrencies in your existing wallet, then go ahead and use that!
- For new users, it is advisable to get a wallet to store your The Graph tokens safely. Any wallet that supports ERC20 tokens can be used.
What Is GRT Token?
Moving on to the token section of this The Graph crypto review; what do we know about the GRT token? Working as the main utility token of The Graph, GRT is also the governance token and can be used to seamlessly transfer digital assets globally.
If you have come across other articles on this website, you sure would be familiar with how governance tokens work. GRT coin holders gain rewards and other rights on the network, and rewards are paid in the form of GRT tokens as well.
How Many Graph (GRT) Tokens Are There in Circulation?
Of the 10 billion tokens in supply, The Graph coins record a circulating supply of 1,245,666,867 GRT.
Is GRT An ERC-20 Token?
Yes, GRT is an ERC20 standard token built on the Ethereum blockchain. For those of you new to the crypto world, ERC20 tokens are cryptocoins created in accordance to the token standard called ‘ERC-20’ in the Ethereum ecosystem. Many different wallets support ERC20 tokens.
How Do I Get GRT Crypto?
If you are an active member of the crypto community, you may already have some amount of cryptocoins in your wallets.
Getting your hands on GRT tokens is pretty simple. GRT is supported by well-known exchanges.
Major Exchanges that support GRT Token are
As you’ve read in the upper parts of this The Graph crypto review, investing in GRT can be considerably profitable. So without further delay, go ahead and get involved in this masterpiece indexing protocol!
Can I stake GRT Token?
The data indexes created on The Graph are created and improved by individuals (indexers). Participating in this process requires an amount of GRT to be staked. Therefore, you can stake this governance token and become an indexer.
As a Delegator on the other hand, you can delegate stake to Indexers to contribute to the platform.
How Do You Make Money With GRT?
I’m certain you’ve come across this in the previous section of this The Graph crypto review; not only does GRT work as a utility token, it can be staked to earn more GRT in return as rewards.
As a GRT holder, you can choose to become a node operator of your choice to maximize your The Graph token balance. It is ideal to store these tokens as price analysts are eagerly expecting the crypto to climb higher in the upcoming years.
Additionally, you can choose to trade GRT with other cryptocurrencies on supported brokerage platforms such as Binance Exchange. It’s up to you!
Is The Graph Crypto Legit?
Now, you’re most likely reading through this The Graph crypto review to consider investing in the said cryptocurrency. As such, it is necessary to ensure that The Graph crypto is not a scam. Based on the user experience since its launch, The Graph has proven to be legitimate.
Moreover, The Graph crypto reddit community has grown larger, with crypto investors eagerly expecting more from the digital coin.
Therefore, rest assured – The Graph is indeed legit.
If this news interests you all the more, then do scroll down and check out the price analysis of our The Graph crypto guide!
The Graph Indexers
As mentioned previously in this The Graph crypto review, the protocol makes use of multiple types of node operators, one of which is called an ‘indexer’.
As suggested by the term itself, indexers are focused on maintaining the indexing function of the network. As an indexer, you will become eligible to earn rewards and query fees.
If you’d like to learn more, don’t forget to take a look at The Graph’s official documentary by simply clicking here.
The Graph Crypto Price Prediction
If you’ve made it so far in this The Graph crypto review, it’s safe to assume you’re quite interested to invest in GRT, right? Well, ideally you might have to consider taking a look at this summarized GRT price forecast.
As of today, The Graph crypto stands at $1.75, fluctuating between a low of $1.71 and a high of $1.82. Undoubtedly, this is a pretty good stance The Graph has in the digital market.
Below is a quick overview of my optimistic GRT price prediction over the next 10 years.
- The Graph Price Prediction 2021 – $15
- The Graph Price Prediction 2022 – $18 to $40
- The Graph Price Prediction 2025 – $90
- The Graph Price Prediction 2030 – $200
On the contrary, in the short term, some sources predict that a price fall by 20% is a possible obstacle The Graph will encounter. This suggests that GRT may be at a make or break point in the digital market. Cryptocurrencies are always volatile. Invest only with really long term horizons to maximize profit and minimize risk.
The Graph Crypto Alternatives
As we reach the end of this The Graph crypto review, let’s not forget to take into consideration the alternatives to GRT. The idea of improvising the querying of blockchain data is impressive; and without question, The Graph has a few notable competitors.
- Dfuse – a blockchain API company empowering software developers
- Tatum – blockchain app developing tool
- Alchemy – blockchain infrastructure and developer tools provider
However, as you may have figured already – there is no perfect alternative to the unique characteristics that The Graph portrays, so it is highly recommended that you do your research wisely before choosing any one of the mentioned protocols.
The Graph Crypto Social Media Handles
Takeaway – The Graph Crypto Review
Judging by the qualities discussed in this The Graph crypto review, the network provides developers an easy and cost effective path to decentralized applications.
The Graph solves issues in the blockchain indexing processes by being the first ever software to bring decentralization to data querying for these networks.
This promising recent product will surely improve in both accessibility and features, so stay tuned with The Graph crypto news for any updates!
I am a data analyst by profession who loves to crunch numbers at daytime and come home wondering how my passive income numbers for the day look like. I believe in being rich rather than looking rich. Follow me for Cryptocurrency, FIRE, Personal Finance, Credit Cards and Digital Nomad updates