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Buying More GRT
The Graph, known by its trade name GRT, is a system built for indexing to help blockchain networks quickly find the data they need. Unlike Chainlink, which brings in new information, The Graph points you to data that’s already there. That’s why people often compare it to Google for blockchain; if you’re looking to find something on the blockchain, The Graph is probably your best choice.
It started in 2017 by Jannis, Brandon, and Yaniv. They were annoyed by the lack of easy-to-use tools to make APIs (Application Programming Interfaces) on Ethereum. These APIs are really important for allowing different computer programs to talk to each other.
What an indexing protocol is. Think of it like the index in a book, which helps you find exactly what you need fast, without having to read every page. In computers, it’s like quickly finding a certain data point in a huge amount of data, skipping the need to look through everything.
The problem nowadays is that well-known APIs, like the blockchain search tools (think Etherscan), handle their data away from the blockchain. They sort it into their own graphs and data sets, and give you a way to access this info. While this usually works well, it means relying on these central groups, which goes against the idea of a fully independent and open network.
The Graph functions as an ERC-20 token within the Ethereum blockchain. An ERC-20 token is like a common format for making tokens that work with Ethereum. These tokens are interchangeable, which means each token of the same kind is worth the same, just like every $1 bill is worth the same.
Being part of the Ethereum blockchain, The Graph uses a special version of Ethereum’s Proof-of-Stake (PoS) way of keeping things secure. This is really different from Bitcoin’s famous Proof-of-Work (PoW) method. In PoW, people in the network race to solve tough puzzles to get rewards. But with PoS, the system picks validators to check transactions based on how many tokens they’ve put into the network as a kind of security deposit. This method speeds up checking transactions, because it only…
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