The Graph (GRT) token from the blockchain network experienced $ 0-759 million in three days of movement.GRT stands out for helping blockchain firms find and sort data. The network distributes the GRT token to everyone who helps process these transactions.
We can say that The Graph, which reached this serious price just three days after its launch, is facing intense interest. The GRT token has more than doubled since its launch on December 17, with the token rising from $ 0.26 on Friday to $ 0.61 today. Volumes also rose from $ 880 million on Friday to $ 2.8 billion on Sunday. This makes GRT the 39th largest cryptocurrency in terms of market capitalization.
The San Francisco company that mined GRT collected $ 12 million from the sale of The Graph (GRT) tokens in October. The company also raised another $ 5 million in June, with attendees including Coinbase Ventures, Framework Ventures, and ParaFi Capital.
What is The Graph (GRT)?
The Graph is a “distributed query processing protocol”. The protocol enables queries to reach dapps reliably. For example, a decentralized application can query some data hosted on Ethereum and collect this queried data without interacting with a third party. GRT does this by allowing blockchain companies to create and use their own APIs known as alt graphs.
The network consists of three players.
1. Indexers that operate the nodes of the network and lock the GRT, earning money when someone processes a query.
2. Curators who decide what Ethereum data to index and how to store it.
3. Delegates who give their GRT to indices for a deduction in their wages.
Source: decrypt.co
Disclaimer: What is written here is not an investment advice. Crypto money investments are high-risk investments. Each investment decision is under the responsibility of the individuals. Coinfinans and the author of this content cannot be held responsible for personal investment decisions.
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