Monday, July 22, 2024

Web3 the watchword among techies, and The Graph (GRT) is gaining traction.

Disruptions in internet-related technologies in the last decade have introduced a slew of services in the crypto and blockchain world. These disruptions are hard to track even for professionals in the field. Data is now considered more valuable than oil or gold. One has to only look as far as platforms like Facebook and Google.

A new project on blockchain is focusing on future methods to manage and retrieve data. Called The Graph (symbol GRT) is an indexing protocol designed to query large networks like ETH by creating and using open APIs. This protocol is called the subgraph. According to data crunched by TradingView and Cointelegraph, GRT prices hit an all-time low of .34$ on the 24th of January, 2022. Several valiant attempts to sustain a breakout over the resistance level has put GRT prices currently at $.48.

One can cite three key reasons for GRT’s momentum. These are GRT supported new subgraphs being added daily and the traction being gained by Web2. The third reason is that The GRT network has been working hard to engage communities with outreach programs to focus attention on its capabilities.

What is happening with subgraphs? The list is growing daily, and these include help for many sought after decentralized applications and several blockchain protocols. A subgraph is an API (application programming interface) that anyone can design and build to access data easily.

The Graph protocol wants to become the global go-to resource so that all the world’s public information. By using GRT subgraphs, information can be repurposed, categorized, and shared over multiple applications so that anyone can query. GRT is currently hosted on ETH. There is a lot of buzz and excitement around GRT, and the company is also sponsoring initiates to help people learn more.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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