The Graph Dedicated Node

The Graph network is one of the youngest and most promising cryptocurrency projects. GRT tokens are circulating in this network. The Graph mainnet was launched at the end of 2020. GRT network, as well as other young networks - Optimism and Arbitrium, refers to the second level solutions for the Ethereum network. Specifically, The Graph network is designed to index data in the Ethereum network. The GRT network and the Ethereum network communicate via publicly available APIs called subgraphs. Members of The Graph can create their own subgraphs and earn GRT tokens from accessing them. The Graph network is great for executing blockchain smart contracts and for building dApps and web3 apps based on them.

To understand the concept of subgraphs on which The Graph network is based, think of it as compiled, indexed, and ordered data that makes it easy to link blockchain smart contracts and dApps and web3 apps together. The various blockchain smart contracts, as well as the events in them to look out for, are saved via the standard GraphQL API in GraphCLI. Next, in addition to indexing the Ethereum network, other cryptocurrency networks will also be indexed. In the future, the GRT network is going to become for the blockchain what Google has become for the Internet. Already now the number of monthly requests to the GRT network is in the billions.

The Graph network relies on GRT nodes to validate transactions. They all have an interest in making the GRT network work as a whole. There are different types of nodes in The Graph network. These are GRT indexer nodes that bid with GRT tokens and are rewarded for successful data processing. These are GRT curator nodes, which give tasks to the indexers, which data should be entered into the indexed database. It should be noted that GRT curator nodes are also rewarded with GRT tokens. They have a vested interest in ensuring that the data on The Graph is of high quality. Also tokens GRT can be earned by delegates who temporarily lend their GRT tokens to The Graph nodes.

What tokens are in circulation on the GRT network? GRT tokens were created simultaneously at the launch of the network, totaling 10 billion GRTs. In addition, there is an annual release of new GRT tokens at a rate of 3% of the initial circulation, and some GRT tokens are taken out of circulation by burning at the same time. GRT tokens are used by GRT nodes to bid for indexing and query processing services.

Developers of blockchain smart contracts for the GRT network can use a powerful API. Its command set includes commands that are in high demand, such as REST, blockchain endpoints, WebSockets blockchain API, JSON RPC blockchain API and more API methods. Because there is a risk of losing money by working on The Graph, developers first test the functionality of their applications on GRT testnet. GRT testnet and the GRT mainnet have essentially the same settings except for The Graph nodes you connect to.

The Graph dedicated node is the best solution for those who professionally work with blockchain smart contracts and web3 apps or dApps. However, even for a seasoned developer, installing and configuring a GRT dedicated node would be extremely difficult. A good alternative would be The Graph blockchain node as a service. In this case, you will be able to fully unlock the GRT potential while saving yourself a lot of hassle associated with installing and configuring The Graph dedicated node (The Graph dedicated server).