The Graph stands as a blockchain data indexing protocol, and has revealed that it’s making plans to consider Polkadot, Bitcoin, as well as Binance Smart Chain, among others, after its successful launch within Ethereum.
The Graph Making Bold Expansion Plans
The Graph managed to successfully launch a mainnet on Ethereum back in December of 2020, and has since started the exploration process with plans of integrating eight other Layer-1 blockchains, Bitcoin being the most notable.
As of the 17th of December, 2020, The Graph operates on Ethereum, supporting the InterPlanetary File System to boot. Interplanetary File System itself stands as a peer-to-peer data sharing and storage network. Alongside this, The Graph has opted to integrate an array of DeFi protocols, as well, such as AAVE, Uniswap, Gnosis, Decentraland, Synthetix, as well as Balancer.
The Mandatory Kind Words
The Graph itself was announced back in July of 2018, promising programmers the ability to build Application Programming Interfaces (APIs) for the purpose of extracting blockchain data. These APIs are called subgraphs by The Graph, and were devoted to decentralized applications built on Web 3.0. According to the project, its primary goal is for developers to be capable of easy access to on-chain data, as well as ease of developing dApps.
Eve Beylin stands as the Director for the Graph Foundation, and gave a public statement about the matter at large. She highlighted that further integrations are among the cornerstones of the next wave of innovation within the decentralized internet. She explained that the protocol supports IPFS and Ethereum now, but the Graph is “Blockchain agnostic,” according to Beylin.
She highlighted that The Graph is eagerly looking forward to integrating more Layer 1 chains and, subsequently, more developers within its community at large. Beylin explained that The Graph believes in a multi-blockchain future, which will ease the development and usage of Web 3.
Gaining Plentiful Success For Now
As it stands now, more than 10,00 active developers are on the Graph, having deployed a total of 7,000 subgraphs. As for how the ecosystem sustains itself, this comes by way of the Graph Token, an ERC-20 native token used for rewards and query fees.
These tokens went live in tandem with the launch of the mainnet, and the token itself has managed to go up by 19% within the past 24 hours, trading at a price of $2.20. This represents a 215% gain since the start of February, in turn.
Time will tell how successful The Graph will be in its goals, but it’s got plenty of idealism to have a solid wack at it.