The Graph Celebrates Third Anniversary and Announces Expansion
The indexing protocol for crypto, The Graph, recently celebrated its third anniversary alongside its partners in the San Francisco Bay Area. The event highlighted the project’s achievements in 2023, including its integration with the Optimism blockchain. In the coming year, industry professionals aim to make The Graph and its cryptocurrency GRT more central within the blockchain world. The protocol plans to expand its suite of data services with optimized performance and improved network efficiency. Edge & Node, the main development team behind The Graph, also attended the event and emphasized their commitment to expanding the web3 application landscape.
The Graph’s Milestones in 2023
During The Graph’s third anniversary celebration, important milestones achieved by the project were highlighted. These milestones include continuously growing query numbers, expansion on multiple cryptographic networks, and the launch of a new roadmap. Tegan Kline, CEO and co-founder of Edge & Node, expressed pride in the achievements of The Graph and its collaboration with developers. The launch of the Sunrise of Decentralized Data initiative was also emphasized, which aims to introduce upgrades supporting all hosted service chains and subgraphs. The Sunray phase 1 of this transition process began on December 18th.
Goals for 2024
In 2024, The Graph aims to expand into a world of data services beyond subgraphs by offering new use cases for data scientists. This includes multiple data sources, new query languages, and support for LLM. Additionally, the protocol plans to empower DevEx developers by introducing simplified billing, clear pricing models, a new free query plan, and reduced gas fees. Performance optimization in the indexing process is also a goal for greater scalability, reduced costs, and improved network reliability. These developments will make The Graph’s services more resilient, flexible, and user-friendly.
The Graph Integrates with Optimism Blockchain
The Graph recently integrated with the Optimism blockchain, enabling blockchain developers to create fast, unstoppable, and high-performing frontend dapps served by subgraphs on the decentralized network. This integration is part of The Graph’s expansion strategy and opens up growth opportunities for its cryptocurrency, GRT. With a market capitalization of $1.46 billion and a presence on six different blockchains, GRT is already a significant player in the crypto world. The integration with Optimism further enhances its use cases, particularly in the DeFi sector. The price action of GRT suggests potential bullish continuation in the short term.
Hot Take: The Graph’s Expansion and Future Potential
The Graph’s third anniversary celebration marks a significant milestone for the protocol and its partners. With achievements in 2023 and plans for expansion in 2024, The Graph aims to become increasingly central within the blockchain world. By offering extensive data services, optimized performance, and improved network efficiency, The Graph is positioning itself as a key player in web3 data accessibility. Its integration with the Optimism blockchain further opens doors for growth opportunities for its cryptocurrency, GRT. With its expanding use cases and market presence, GRT has the potential to thrive in the evolving crypto landscape.
By
By
By