One of the most-awaited decentralized projects The Graph Network goes live with promises of data democratization and data querying across different blockchain networks.
On Thursday, December 17, the decentralized protocol – The Graph Network – official went live with its operations. The Graph is a decentralized indexing protocol for querying networks like the IPFS and Ethereum. The Graph network helps in indexing and querying data from blockchains.
The Graph Network is officially live! People all over the world are coming together to build a vibrant decentralized future on top of crypto networks.
Join the movement and come build the future you want to live in 👩🚀🌍https://t.co/3YVpq4HrFt pic.twitter.com/63rc2z90ac
— The Graph (@graphprotocol) December 17, 2020
Just like Google indexes the web, The Graph network indexes data from different blockchain platforms. It then groups this data into open APIs called subgraphs allowing anyone to query. The aim behind building The Graph Network is to have a vibrant decentralized future wherein data is easily accessible across different blockchain platforms. As the official website notes:
“Subgraphs can be composed into a global graph of all the world’s public information. This data can be transformed, organized, and shared across applications for anyone to query with just a few keystrokes”.
Thus, The Graph’s goal of data democratization will be extremely useful for small businesses. It will help to break the barriers of data monopoly with giant corporations while supporting small players. The platform also has its native cryptocurrency The Graph (GRT) which is an Ethereum token.
Coinbase Pro and Binance Announce Support for GRT as Graph Goes Live
Soon after the Graph network went live crypto exchange Coinbase Pro and Binance announced support for the Ethereum token. Coinbase Pro also noted that it has started accepting inbound orders for the GRT tokens. The exchange also noted that it will start trading later Thursday subject to the availability of sufficient liquidity. It further added:
“Once sufficient supply of GRT is established on the platform, trading on our GRT-USD, GRT-BTC, GRT-EUR, GRT-GBP order books will launch in three phases, post-only, limit-only and full trading. If at any point one of the new order books does not meet our assessment for a healthy and orderly market, we may keep the book in one state for a longer period of time or suspend trading as per our Trading Rules”.
Cryptocurrency exchange Binance has also announced support for The Graph (GRT) token. The announcement notes:
“Binance will list The Graph (GRT) and open trading for GRT/BTC, GRT/ETH and GRT/USDT trading pairs at 2020/12/17 8:30 PM (UTC). Users can now start depositing GRT in preparation for trading”.
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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.