What is The Graph?

The Graph is a protocol that organizes and makes data accessible from blockchains and storage networks. It’s a tool for developers to find, publish, and use public data to build decentralized applications (dApps). The Graph utilizes the Proof-of-Stake(PoS) consensus mechanism that offers The Graph (GRT) staking to secure the network.

This open-source software is hosted on the Ethereum blockchain, collecting and storing data from blockchains such as Ethereum and Avalanche. This data is organized into indices known as Subgraphs, which make searching The Graph more efficient. Queries are made through decentralized applications, which are written in a programming language called GraphQL.

The Graph Network decentralizes the API and query layer of the internet application stack. This means that for the first time, it’s possible to efficiently query blockchain data without relying on a centralized service provider.

The Graph Ecosystem

The Graph supports over 40 networks, including Ethereum, Polygon, BNB, Arbitrum, and more. This makes it a versatile tool for developers working across different blockchain platforms.

The Graph Ecosystem is powered by four main types of participants: Indexers, Curators, Delegators, and Subgraph Developers. These participants work together to ensure the resilience of The Graph: 

  • Indexers are responsible for indexing data and serving queries for subgraphs.
  • Curators identify useful subgraphs to index.
  • Delegators secure the network by supporting Indexers.
  • Subgraph Developers create subgraphs that organize smart contract data.

What is GRT Coin 

GRT, or The Graph Token, is the native cryptocurrency of The Graph network. It’s an ERC-20 token, which means it’s built on the Ethereum blockchain. It plays a central role in the network’s economy where participants use it to perform various tasks. 

For instance, anyone who wants to query The Graph to find data on a blockchain must pay for it using the GRT token. Delegators stake GRT to Indexers, contributing to the network’s security and efficiency. Users, called Curators, signal high-quality data by depositing GRT to Indexers. 

This system guarantees that the data remains open and APIs, called subgraphs, are efficiently indexed. As a result, developers can build and publish open APIs, making data easily accessible. 

Another key way that the token is used is through a process known as The Graph staking. When you stake GRT, you are essentially placing your tokens in a pool that is used to validate transactions on the network. This makes the blockchain more resistant to attacks and strengthens its ability to process transactions.

Staking also incentivizes honest behavior. If an indexer acts maliciously or fails to perform their duties, a portion of their staked GRT can be slashed, aka permanently removed.

Here’s other information you need to know about the token:

  1. Market Cap: The current market cap of GRT is around $3.79 billion.
  2. Circulating Supply: The circulating supply of GRT is approximately 9,456,384,055 tokens.
  3. Total Supply: The total supply of GRT is around 10,788,004,319 tokens.

How to Stake The Graph

Staking GRT (The Graph) on Cryptology is an excellent way for users to receive rewards and contribute to the network's security and efficiency. Below is a comprehensive guide on how to start staking GRT with Cryptology's staking platform, CryptologyGrow.

CryptologyGrow provides a user-friendly and secure platform for staking GRT, offering competitive Annual Percentage Rates (APRs) without lock-up periods. With options for fixed staking (APR of 15-10% and a 28-day unbonding period) and flexible staking (APR of 2-4% with no unbonding period), Cryptology caters to different investor preferences. 

Staking on Cryptology means enjoying:

  • User-friendly Interface: Easy navigation and clear options.
  • Competitive APR: Returns are calculated weekly to reflect market trends.
  • Secure Infrastructure: A platform with a robust security framework.

Like with any other product in the cryptocurrency market, certain risks are involved. The fact that CryptologyGrow only offers protocol staking mitigates these risks.

Here are the main ones to keep in mind: 

  1. Slashing: Validators can be penalized for malicious behavior or prolonged downtime. This can result in a permanent loss of a portion of the staked tokens;
  2. Market Risk: The value of the staked tokens can decrease due to market fluctuations, affecting the value of acquired rewards.

To begin staking GRT on Cryptology, follow these steps:

  • 1. Go to the Grow Tab: Log into your Cryptology account and navigate to the "Grow" section.
  • 2. Select GRT for Staking: Choose GRT from the list of cryptocurrencies available for staking, decide between the fixed or flexible staking options, and specify the amount you wish to stake.
  • 3. Activate Rewards: Opt-in for "Automatic reward staking" to start accumulating your staking rewards daily. 

You'll receive your staking rewards weekly, directly to your Cryptology account, based on the staking option and the performance of the underlying blockchain protocol.

By participating in GRT staking with Cryptology, you actively contribute to The Graph’s ecosystem while earning rewards. 

Remember to choose the staking option that aligns with your preferences and happy staking!

! Disclaimer

The information provided in this article is for educational and informational purposes only and should not be construed as financial, tax, or legal advice or recommendation. Dealing with virtual currencies involves significant risks, including the potential loss of your investment. We strongly recommend you obtain independent professional advice before making any financial decisions. The products and services offered by Cryptology may not be suitable for all users and may not be available in certain countries or jurisdictions. The promotional materials do not guarantee any specific outcomes or profits from virtual trading. Past performance is not indicative of future results. It is important to read and understand the risks, which are explained in our Risk Disclosure Statement

Tom F.

Tom is one of the content managers here at Cryptology. While still fresh in his career he has been able to firmly place himself within the world of crypto and content creation, producing work for a number of publications including esports.net and The Times of Malta newspaper.