“The Web3 changes the data structures in the backend of the Internet, introducing a universal state layer, often by incentivizing network actors with a token“ -Shermin Voshmgir
The Graph is what we have decided to explore today as we step onward with Crypto and blockchain into our next week’s subject. The graph is an indexing blockchain network built on the Ethereum smart contract platform. The Graph is an indexing blockchain protocol which has a goal of making data more easily accessible. The Graph is one of the latest smart contract protocols to come online, and it is really attempting to bridge the gap from Web2 to Web3.
The Graph is allowing blockchain projects to leave custom servers behind, and really swing the doors open on decentralized networks. Before The Graph you would need to create a custom indexing system for your DAPP or project, which was defeating the purpose of decentralization, that is the problem what the graph sets out to resolve utilizing the stacking abilities of Web3. The Graph is aiming to be the Google of blockchain data from the Ethereum network, by indexing data into subgraphs which can then be accessed by anyone.
The Graph network is made up of three components: Indexers, Curators, and Delegators. Indexers are node operators who benefit from fulfilling public queries on the network. Curators have a unique role of creating subgraphs on the network. Curators utilize their knowledge of the Web3 ecosystem to lay data into these subgraphs. Delegators have the crucial role of selecting and ranking indexers to make the network run in the most efficient way possible. These Delegators hold a stake in the indexers, and can also be incentivised for poor performance and behavior.
The Graph has come on the scene in the past few months, but has brought with it a crucial piece of the decentralized pie that has been missing; indexing of DeFi projects on a decentralized index which can be queried efficiently and effectively, just like you can utilize Google for web2 information. Decentralized projects are still in their infancy,but indexing features that The Graph offers will bring more interest and more trust to the DeFi world. These technologies will change the world, just like Google and the original search engines did for the internet in the early 2000s. We are very excited to see where this all goes.
