The Graph Crypto-Protocol Defi and Web3

One of the interesting projects in the Solana ecosystem is The Graph crypto. The GRT token became one of the third trendings at press time with a rating of #45 Coinmarketcap.

The Graph’s market capitalization has reached 3 billion USD, making this token attractive to cryptocurrency enthusiasts.

The price of GRT tokens at the time of writing at $0.6887. It is indeed not the highest price in the history of GRT prices.

What’s interesting is that The Graph crypto is one of the top watchlists. With a total of 188,717 fans monitoring The Graph. Is The Graph a good investment? We will try to dive deeper.

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What is The Graph crypto?

The Graph is a decentralized protocol that indexes and queries data from the blockchain. This protocol starts with Ethereum and IPFS, which allows querying data that cannot be queried directly.

Using The Graph protocol, it is possible to read data that is difficult to reach because it can only read basic data. For example, a complex smart contract on Uniswap that puts data on the Ethereum blockchain will find it difficult to read the entire data except for the basics.

While it is possible to acquire in-depth data it may take hours or days to process the data.

In essence, The Graph is here to provide a solution to solve the complexities of querying the data. It is by building a decentralized protocol for more efficient indexing supported by the open-source Graph Node.

The Graph is powered by Defi and the Web3 Ecosystem where one can build APIs that call subgraph to query using GraphQL for data retrieval.

Currently, The Graph supports Ethereum, IPFS, and POA, Polygon, Arbitrum, BSC, Celo, Avalanche, XDAI, and Fantom. But in the future, there may be other blockchains that will be supported.

How the Graph Work

Referring to The Graph Whitepaper, how these protocol works are to first study the index data on Ethereum using subgraphs. Next, the subgraph defines the smart contract and then maps the event data to the data that The Graph will store in its database.

The CLI then stores the definition in IPFS and tells the indexer to start indexing the data for that subgraph.

When someone adds data to Ethereum, the smart contract will emit one or more events while processing the transaction. Meanwhile, the Graph Node will continue to scan Ethereum for all your transactions and data subgraphs that are on the network.

If an event is found for your subgraph in this block the Graph Node then runs the mapping handler. This is a WASM module that creates and updates the data stored in the Graph Node.

Next using the GraphQL node a decentralized application queries the Graph Node for indexed data from the blockchain. The results will be translated into queries for the underlying data store and retrieve this data. And the end-user uses it for new transactions in the Ethereum blockchain.

Who created The Graph crypto?

The idea of ​​building The Graph first came from Yaniv Tal, he came up with the idea after facing difficulties in building new Dapps on Ethereum.

The idea came about because none created a decentralized protocol for querying data and indexing in Blockchain.

Then he formed a team together with Jannis Pohlmann and Brandon Ramirez, building The Graph in 2018.

They all have an engineering background with more than 5-8 years of experience, Tal and Ramirez have experience working at MuleSoft, in API development.

After The Graph was created, according to DefiCoins they were able to raise funds from the sale of GRT tokens to $19.5 million in 2019. And more than $10 million in October 2020.

The Graph crypto release date

Since the idea of ​​The Graph came about and was implemented in 2018, it is still in beta testing. The Graph was officially launched on the main net on December 17th, 2020.

It is relatively new, but the growth of The Graph protocol is quite fast. It has even supported several popular blockchains like Avalanche, and Polygon.

Even the popularity of The Graph has brought it to be one of the trending tokens on Coinmarketcap.

Currently, there are more than ten investors backing up The Graph protocol including Framework Ventures, Parafi Capital, DTC Capital, Multicoin, Coinbase Ventures, Digital Currency Group, Coinfund, Collider, Lemniscap, reciprocal, compound, 122 West, Tally Capital, South Park Commons, Stakefish, and JD Capital

The Graph crypto coin

Like other protocols, The Graph has a native GRT token. The GRT token in The Graph ecosystem is used to earn stakes, to carry out indexing and query service processes. GRT tokens are also to paying Curators and Delegators, this is also to pay in the Bug Bounty program.

Consumers also use the GRT token to use the service as an end-user of The Graph protocol. In The Graph network, the GRT token serves for economic security in the protocol. GRT tokens are locked by indexers, curators, delegators to provide indexing and curating services to the network.

The GRT token is an ERC-20 that uses the Ethereum Blockchain with a total supply of 10 billion GRT when the Graph launch in the mainnet.

The Graph crypto circulating supply

According to Coinmarketcap, currently, the circulating supply has reached 4.72B GRT. This has already reached 47% of the total maximum total tokens to be generated.

The current price of $0.6458 has been on a downward trend since early September where the highest for the month was $1.0643. Daily volume is down 32% to $110 million at the time of writing. Meanwhile, market capitalization fell 8.2%.

The Graph crypto delegate

Becoming a Delegator will be charged a fee of 0.5%, for example by delegating 1000 GRT then automatically 5 GRT will be burned. It is highly recommended to choose an indexer that has good performance so that it will provide a profit.

In addition, the delegator has an unbonding period of 28 days, during which time it cannot be used for transfers and does not receive rewards. The risk of choosing a poorly performing indexer possibly delegators to simply burn their GRT tokens.

The Graph crypto indexer

Indexer works as a node operator in the network for GRT stakes. To reward contributions in the network they receive a query fee and indexing reward.

Other rewards are sourced from the Rebate Pool according to their work from the results shared by the network to contributors. The indexer selects a subgraph in the index based on the curation signal. Anyone that wants to become an indexer requires a minimum of 100k GRT.

Curator in The Graph

The role of the curator is very important in The Graph ecosystem. Because the curators must have knowledge in the web3 ecosystem which will signal the subgraphs that The Graph Network should index.

In The Graph network, the curator is rewarded earlier than the cost of the query generated by the subgraph. The signal is given from curators then will be taken by the indexer for the next process.

The Graph crypto good investment

The Graph offers its own uniqueness in infrastructure blockchain, the increasing adoption of which allows the GRT token to be more valuable. With a limited maximum supply of only 10 billion, and every fee burned, it will have an impact on annual inflation of around 3%.

If you think The Graph is good enough for the long term, you might make a bet to invest. The value also depends on the community, although this month tends to be bearish, future adoption gives hope that The Graph platform grew up impressively.

After The Graph platform was launched on the main net in December 2020, its users quickly grew. A market cap of 3 billion USD indicates the GRT token is gaining a place in the hearts of crypto enthusiasts.

A total of 188,717 fans made the Graph their watchlists, indicating the platform is still monitoring its future growth.

Does The Graph crypto have a future?

In our view, The Graph still has a good future, where we see more and more investors backing up this platform. Investor support is very important in The Graph ecosystem, it will add a good impression in the eyes of investors.

Some Youtube channels even make forecasts for the future of GRT in which some believe the GRT token will hit a price of $10.

Good Morning Defi channel they make a forecast price The Graph may reach $10 sooner.

Another channel Crypto Brains posted a video forecast for the Graph which may be as high as $10, this is due to the massive adoption of the platform due to increasingly supportive users. In the forecast adoption of The Graph will increase in the near future.

How to buy The Graph crypto

How to buy The Graph tokens You need to find an exchange that provides GRT tokens on their platform.

Currently, almost all exchanges require users to comply with AML and KYC rules. You may be asked to provide documents that are a KYC requirement which will later become a condition for verifying your account.

After you register on the exchange, next is to deposit funds, choose the appropriate payment method, then you can buy GRT tokens.

You may also need a wallet, in this case, the GRT token is an ERC-20 token running on the Ethereum blockchain, so wallet options are pretty much available to store ERC-20 tokens. For long-term security maybe you choose a hardware wallet like a Ledger wallet.

Where to buy The Graph?

Currently, there are several large and popular exchanges that provide GRT tokens, you can choose one of them and follow the purchase procedure.

Following are some of the exchanges where you can buy The Graph crypto token GRT.

Binance

Binance is a popular exchange that originated in China but was later forced to relocate to another country due to the Chinese government banning crypto.

The exchange started listing GRT on 17 December 2020, and users can find in pairs GRT/BTC, GRT/ETH, and GRT/USDT.

This exchange is global, however, they do not accept customers from US residents.

Kraken

Kraken is also one of the well-known crypto exchanges, you are also required to comply with AML and KYC rules by verifying your account using the required documents.

Users can fund by credit card, and the exchange offers margin trading on their platform. GRT trading is not available for Japan, the USA, Canada, and Australia at this time.

Huobi

Huobi Global is another alternative exchange for buying GRT crypto, which you can find on the trading platform on the Huobi market in GRT/USDT, as well as GRT/BTC.

As with other exchanges, users must comply with AML and KYC procedures.

OKEx

The Graph crypto GRT is also available on the OKEx platform, you can find it in the GRT/USDT pair. This exchange uses an intuitive and user-friendly platform. But the OKEx platform is not available to US residents.

FTX

FTX is an exchange headquartered in the Bahamas, originally it was an exchange in China, but like Binance, because the government banned crypto, they moved their headquarters to the Bahamas. You can buy GRT crypto in GRT/USD stable coin pairs on their platform.

Cointiger

Another platform that supports GRT crypto is Cointiger. You can find it in the GRT/USDT pair in the crypto derivatives market.

The Graph crypto price prediction

Even though The Graph is still relatively new a year since its launch, it provides new hope for crypto investors. Experts have given their predictions for the GRT token, along with a summary of forecasts from several popular forecasting sites.

Crypto News predicts the price of GRC in 2021 can reach $. While 2022 according to analysis can reach $ 1.45. By 2023 demand dominance could bring the GRT at $1.75. The year 2024 GRT is still promising with a predicted price of up to $2. In 2025 optimism is still the basis for predicting an average price of $2.5 and a maximum of $3.

Wallet Investor analyzes that the price of GRT in 2021 is not good and predicts the price will drop to $0.455. 2022 was a bad year for GRT according to Wallet Investors the average price dropped to $0.388. 2023 will be a good year for GRT with experts predicting an average of $0.0836.The year 2024 is not much change, the price is predicted to average at $ 0.0711. 2025 is also not much change, the average price is $ 0.0799. And the year 2026 is predicted to average at $0.1040.

Next GRT prediction

Experts from Longforecast predict the price of GRT to close in 2021 to a close of $0.47. 2022 closing price $0.57. 2023 closing price $0.70. 2024 closing price $0.46. 2025 closing price $0.96.

Coinquora expects a bullish run throughout 2021 for the price to hit $0.96. By 2022 experts expect the price to be $1.5 to $2. The year 2023 predicts the price will reach $3.5. In 2024 it will reach $5, and in 2025 it will reach $8.5.

Gov Capital predicts badly for the 2021 GRT to drop at $0.485. Prices are further dropping according to them in 2022 at $0.2482. It even further predicts prices in 2023 to drop to $0 in June.

Coinpriceforecast experts predict 2021 GRT to rise to $0.79. The year 2022 rises to $1.05. The year 2023 rises to $1.23. 2024 rises to $1.59. 2025 rises to $1.88. The year 2026 rises to $1.79. The year 2027 rises to $2.05. Year. 2028 rises to $2.28.  2029 rises to $2.06. 2030 rise to $2.23.  2031 rises to $2.42. 2032 rises to $2.62. And 2033 rise to .$2.82

Final Thought

In conclusion, the average forecasting by several popular sites leads to a conclusion that the average GRT future expert believes that the token value is increasing from year to year.

However, it is possible that the minority forecasting bad values ​​for GRT is correct. Because many things can happen in the Graph ecosystem. Related to regulations in several countries for crypto assets sometimes affect the transaction volume of a token.

Note: This article is only trying to provide information and not to be investment advice. Crypto, forex, and CFDs are risky assets, each investor is responsible for his/her investment.

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