What kind of crypto currency is The Graph?
Is The Graph a promising investment?”
The Graph is expected to become a new web service to compete with Google, and is the hottest crypto currency right now.
In this article, we will explain The Graph in detail about its future potential and features. If you are interested in blockchain technology or a beginner in crypto currency investment, please refer to this article.
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What is The Graph (GRT)?
| Project name | The Graph |
| Token Symbol | GRT |
| Market capitalization | $1,391,188,758 (2023/3/20) |
| Market ranking | 42nd (2023/3/12) |
| Official page URL | https://thegraph.com/en/ |
| Git Hub | https://github.com/graphprotocol |
| https://twitter.com/graphprotocol | |
| Discord | https://discord.gg/vtvv7FP |
| Telegram | http://t.me/graphprotocol |
| https://reddit.com/r/thegraph |
The Graph is a project to develop dApps (decentralized blockchain applications) that enable search on the blockchain. This service is attracting attention as a next-generation search tool.
The relatively new brand, which will be launched in 2020, is already ranked 42nd in the trading market as of March 2023. The Graph’s ability to beat out the competition and reach the top 50 in just three years is a true testament to its strength.
The main exchanges where GRT is currently listed are
- Binance
- KuCoin
- Kraken
The above three. Since GRT is listed on relatively major exchanges, it is easy to obtain.
If you want an easier way to get GRT, bitcastle is the place to go.
The Graph’s token GRT is listed on Binance and KuCoin, making it relatively easy to purchase. However, these exchanges do not accept Japanese yen. However, it is much easier to get it via the crypto currency exchange “bitcastle”.
On bitcastle, you can purchase crypto currency with a credit card. There is no need to register, just verify your email address and you can start trading immediately.
BNB issued by Binance can also be purchased via bitcastle.
- Buy BNB on bitcastle
- Transfer BNB to Binance
- Exchange BNB for GRT on Binance
Registration is free, so if you do not have an account yet, please take this opportunity to open one.
How to use The Graph (GRT)
Once you access the official page, you can actually use the search application using the sub-graph. It is very easy to use. First, access the official page.
Click on “Explore Subgraphs” at the bottom left of the top page. All you have to do is to type in the name of the service you want to use and search for it.
This is the first time that you can search for blockchain services in your browser, though it is not a very convenient search system as it only has this functionality at the moment.
We may see a world in which people use The Graph to search for blockchain services that they can’t find on Google in the future.
You can register your own projects in the sub-graph.
In fact, The Graph is not only for searching, but also for registering your own projects and creating sub-graphs.
To register, use the
- A crypto currency wallet
- The URL of the project you are developing
You will need these two things. You can say that this service is mainly for developers, but if you are thinking “I am going to make a blockchain game” or “I developed dApps and I want many people to know about it”, you can create a sub-graph and make it available on The Graph. It may have an unexpected effect on attracting customers.
The crypto currency wallet required for registration is supported by Metamask. You may create one account if you are thinking, “I want to create a subgraph eventually.”
A crypto currency wallet is an essential tool for trading on the blockchain. Even if you do not plan to create a sub-graph, it is useful to have one if you use Dapps.
Features of The Graph (GRT)
The Graph has three main features
- Distributed search protocol
- Used by many projects
- Distributed service
Let’s look at them in detail
Feature 1: Distributed search protocol
The Graph’s main project is to provide a distributed search protocol. This system, called “subgraph,” searches data on the blockchain that was previously difficult to search.
With Subgraph, The Graph indexes data on blockchains such as Ethereum. This makes it possible to retrieve only the portions of blockchain data that are needed, which would normally be difficult to pinpoint.
Originally, retrieval of data stored on the blockchain required access to all transactions processed to date to retrieve information. The longer a block is, the longer this operation takes, and in some cases it can take hours or days to complete.
This makes it impossible to implement a search function for distributed data. The Graph solves this problem and is even referred to by some as “the search engine that replaces Google.
Feature 2: Used in many projects
The Graph’s extremely useful search function is used by many blockchain projects. In particular, it is offered by many DEX (decentralized exchange) and DeFi (decentralized finance), and some of the projects that are hit by The Graph’s search system are as follows
- Uniswap
- SushiSwap
- MakerDAO
- OpenSea
Checking The Graph’s official page, we see that over 700 projects are using subgraphs, and this number will continue to grow.
Feature 3: Distributed service
The Graph’s search protocol, Subgraph, is a decentralized service. It is characterized by its ability to “solve the problems of centralized search systems.
Today, when the importance of big data is recognized, the concentration of information has become a problem. For example, Google, which is used by many users, records and stores all search information and information uploaded to the web.
This structure is very dangerous because if Google’s security were to fail, it could lead to the leakage of personal information. In fact, the risk is quite low, but it exists as a potential risk.
In addition, the small business class has frequently experienced leaks of personal information, which has been in the news. This risk of collecting and managing information tends to be problematic from a privacy perspective.
However, the search protocol using The Graph is based on a mechanism in which information on the blockchain is managed in a decentralized manner and browser information
cannot be identified. Therefore, information is not centralized and there is almost no risk of privacy leaks.
However, while The Graph is very effective in protecting privacy, it is not as accurate as a centralized system.
This is a problem with decentralized management systems as a whole, and The Graph will work proactively to resolve such issues in the future.
The Graph (GRT) Price Trends
GRT’s price as of March 2023 was $0.1. Since the beginning of 2023, prices have been on an upward trend, peaking at about 440% higher than the price at the beginning of the year.
However, after peaking here, prices began to decline. Currently, the price is at $0.11, half the peak price.
Future Price Outlook
The future price outlook will continue to be a bit challenging. The rationale is as follows.
- Weak basis for price increases since the beginning of this year.
- Continuing downward trend considering the lowest prices set after the launch in the first place
- The convenience of The Graph is yet to be seen
To begin with, GRT is performing well in the short term, but it has only returned about 20% compared to its highest price since launch. This means that selling pressure from unrealized losses may still be strong and maintained. Furthermore, the price increase since the beginning of this year could not be clearly considered as evidence.
Considering that Bitcoin and Ethereum have similarly risen in price since the beginning of this year, the overall price of crypto currencies has probably risen, and GRT has probably just been pulled along with it. Therefore, it cannot be said that The Graph itself has increased in value.
Under these conditions, I am still skeptical of GRT’s ability to rise.
Also, while search functions are available, The Graph’s services are still in the development stage and have no practical advantages.
GRT is a promising stock to hold from a long-term perspective, but it may be difficult for it to continue to rise at the same rate as this year’s price increase.
The Graph’s (GRT) Future Prospects
The Graph’s future is very promising. In the first place, even the mighty Google was only aware that a useful site had been created right after the launch of its search service.
The reason why it has grown so much is that users have realized the convenience of Google’s search service, which gathers a lot of information.
Then, with the development of Web 3.0, the Internet world changed from centralized to decentralized.
There is a growing demand for services that can replace Google. The Graph is the only service that offers services closest to Google and is managed in a decentralized manner.
We are still in the transitional period from WEB 2.0 to WEB 3.0, and the convenience of The Graph is yet to be seen. Nevertheless, in the future, a search service for blockchain data will be necessary.
When that happens, it would not be surprising if the supremacy of WEB 3.0 shifts to The Graph in one fell swoop. GRT, which is still inexpensive at the moment, is a strong investment with the potential for large returns. If you are considering investing, it might be better to make the move sooner rather than later.
Summary: The Graph is a new search service that will replace Google.
Let me conclude with a brief summary of The Graph.
- The Graph is a next-generation search service that will replace Google
- Data on the blockchain can be indexed and retrieved.
- Since it is decentralized, data is not concentrated in one place.
- Will be a service to look forward to when WEB 3.0 develops
The Graph is expected to replace Google, but it remains to be seen if it will develop as expected.
Will The Graph become the standard for the next era? It will be interesting to see what happens in the future.