Starting from what exactly is The Graph, it is a decentralized protocol developed for indexing and inquiring data from blockchains, with the first being Ethereum. The Graph indexing protocol makes it really convenient to query data that is difficult to read directly.
As for how hard it was to retrieve the data, it should be noted that a user was required to process every single transfer event that ever happened, read the metadata from IPFS using the Token ID and IPFS hash, and then aggregate it. To get an answer this way, it would take days for a dapp that is running in a browser.
In addition to this, properties possessed by Blockchains such as finality, chain reorganizations, or uncles blocks add up to make the process even more complicated. The Graph brings a solution for this issue with a decentralized protocol that indexes and allows the efficient inquiring of blockchain data.
These APIs are termed indexed subgraphs that can be queried with a standard GraphQL API. The subgraphs can be formulated into a global graph of all the public information in the world. Additionally, the platform allows this data to be transformed, organized and shared across applications for anyone to query.
What Does The Graph Do?
Learning further about the functioning of The Graph, the protocol comes to know what and how to index Ethereum data based on the subgraph manifest, the descriptions of subgraphs.
The Graph solved the problem of the requirement of significant engineering and hardware resources for developing and operating proprietary indexing servers. Ultimately, saving the crucial security properties that are necessary for decentralization.
What contributes more to the value of the project is its belief in Web3 and the possibilities it has emerged with, such as storing and processing the data on open networks with verifiable integrity.
Well, the project is thriving and more and more entrepreneurs are getting involved with The Graph to create next-level apps in order to scale human coordination on the internet.