The Google Of BlockChain (Sleeper Blue Chip Crypto)
If youre watching this video, it means youre already way ahead of the curve, but what does it actually mean? Well? Think of it like this web, one was all about consuming static web pages, sending emails and asking genes the best way to cook the lasagna. Then web 2 came along changed the game forever, because it didnt just allow us to interact with the internet shifted a lot of what we did in real life into a whole new age of online activity and with that came a by product data. Our data that data put power into the hands of a few major players. Im talking amazon, google, facebook, a cabal of super powerful, centralized entities, became our evil overlords. The shepherds of everything we do online, which pretty much made us the sheep and our data, became the golden fleece to be sold off to the highest bidder. But heres good news, the sheep are waking up, were just getting started. Lets get it welcome to bitboy crypto home of the bit squad, the largest and greatest crypto community in all the interwebs. My name is ben every day on this channel. I show you how to make money in crypto if you like money and crypto, be sure to hit that subscribe button in this video. We take a look at the graph of blockchain technology for web3. Blockchain will be the foundation on which web3 is built, but when it comes to creating decentralized applications, aggregating the data needed to make them work is a serious headache.
Why? Well, first, because obtaining data on the blockchain is a nightmare, i mean thats. Basically, what a blockchain is an endless stream of immutable data so going through it to find the relevant chunks of information, takes a huge amount of time and processing power with the current web 2.0 infrastructure. That means building an indexer running a server and indexing the data in house, its labor intensive energy, intensive and, crucially, highly centralized with a single point of failure and a constant security risk. But when youre building applications querying data is the name of the game. So the questions of how to streamline it for blockchain are huge. How do we move away from centralized databases and indexing services? How do we collect data in a decentralized way, because accessing data on the blockchain is easy accessing relevant data? Not so much bit like going to walmart where everything is randomly organized sure. Youd eventually find the frozen tamales cant stop thinking about, but it would take a lot of time and determination. A way to query data efficiently on the blockchain was always going to be a big deal and lucky for us. The answer came in 2018 by way of three software engineers, yaniv tull, giannis, pullman and brandon ramirez. Now these guys arent just nerds theyre super nerds because they solved one of the most pressing issues facing developers in web 3.. Youve probably heard of it. Its called the graph, sometimes called the google blockchains, but unlike google, this isnt an evil superpower hellbent on world domination.
Its a decentralized indexing protocol that offers a seamless, hyper efficient way to organize and query blockchain data. The first thing to understand is that the graph isnt a blockchain instead its an indexing layer that sits on top of a blockchain allowing for transparent, decentralized, apis or application programming interfaces. In simple terms, the graph gathers and analyzes data before storing it into sub graphs, which dapps can search through to instantly, receive the right information. This could be anything from which exchanges have the most liquidity, which governance proposals have the most rep to who is the most handsome and smallest guy in all of crypto, just kidding kind of thats, something you already know, but what are subgraphs and how do they work? Well, theyre, basically decentralized data sets that means dapps dont need to run their own indexer. They can just query the relevant subgraph to get what they need for the front end. This means cutting through the noise of different block chains, ipfs, oracle, side chains, layer twos, you name it. The graph slices through them all like a hot knife through butter and easily gathers the required data, which is why its found traction with pretty much all of the major device protocols, with billions of monthly queries for things like token price, historical trading volume and liquidity. All taking place behind the scenes i mean, if you want to see a textbook case of exponential growth, just check out this chart thats an old chart 2.
in the past 18 months, theyve had over 135 billion on the hosted service 5 billion coming since may this Year, which tells us two things the blockchain use is growing exponentially and that the grass technology is playing a defining role. As of last week, over 22 thousand unique subgraphs have been deployed to their hosted and decentralized networks, with names like ave and union audience. Relying on protocol, speaking of which a decentralized indexing layer, should be decentralized itself. Since the mainnet launch theyve been running the legacy explorer, but theyve recently deployed the sub graph studio, a launch pad to the decentralized network where users can test, create and publish subgraphs for public use and theyve already seen some major subgraphs migrating to the protocol. Like sushi pickle, synthetics and radical, to name but a few heres, a quick rundown of the graphs basic infrastructure, its effectively a free market model, incentivizing the grt token. First, you have the indexers. They run the nodes that process the queries and youve got to be a nerd to be an indexer because it requires some technical know. How indexers can then state grt is collateral against their activity, compete for subgraphs and are inquiry fees as well as inflation rewards? Then youve got the curators and you dont need to be living in moms basement to do this one. Almost anyone can apply. Curators pick out good, looking sub graph and stake their grt to create signal the higher the signal, the greater the chance.
The sub graph will be picked up by the indexers. By the same token, curators are incentivized with rewards coming from query and indexing fees. Last but not least, are the delegators, which is pretty self explanatory. They state grt to support indexers help, keep the network secure. Now i know youre not just here for the tech, so you probably want to know about grts price potential and heres the thing despite having a working product with a crystal clear use case, widespread adoption and no real competition snapping at their heels grt is unlikely to Do a 100x anytime soon i i know i know its hard to believe, but it comes down to tokenomics. As far as i can tell is the only area where the graph has come under fire. The reasons pretty self evident. For starters, the team and early backers have the lions share in almost 60 percent of the original 10 billion backers, who include the likes compound coinbase ventures, not to mention our old frenemies of the dcg, combine that with an inflationary model of three percent a year to Cover indexing rewards a vesting and distribution schedule playing out over a decade, a burn rate of only one percent and as many as eight hundred thousand tokens playing the market a day well grt could come under some major cell pressure as time goes on. But i dont want to take away from the magnitude of the project im, not saying it wont reward investors with impressive gains and returns its just likely to happen over time and yet, as dvi and web 3 grow exponentially graph could see its adoption and market cap Reach levels we cant even compute.
Today i mean it could literally play a role in the lives of billions of people all over the globe. Project might have started out on ethereum back in 2018, but their vision is to be part of a multi chain. Future and theyve been steadily expanding. Support for all major layer, ones think about it. Creating a global api by aggregating the worlds data in an open source way, its a big big deal and if were going to call it, the google of blockchains, then maybe its best to think of grt is what google stocks were in the 90s. They might not have flipped crazy gains overnight, but if youd had the conviction to buy back, then well youd be laughing today as you cruise past the bank, in a lambo as a price prediction for this cycle, its around a 3x from its all time, high of 2.77, back in february went into a downtrend straight after having said that its had a decent consolidation period since the mini crash in may, but it seems to move at a different pace from the rest of the market. Personally, i wouldnt be surprised to see it reach somewhere between three and four dollars by the end of this bull run, but when it comes to the graph im looking way past the next few months. This is a long term play with a long term potential and a seriously exciting future thats.