Originally published on: November 21, 2024
The Graph has revolutionized decentralized indexing with its latest introduction of the GRC-20 standard for Web3 data structure. This new standard, developed by Yaniv Tal, aims to redefine how information is organized, shared, and interconnected across decentralized applications. Building upon the concept of knowledge graphs, GRC-20 is set to transform the way we understand and navigate data in the Web3 environment.
By focusing on entities, relations, and types defined by developers, GRC-20 aims to replace the outdated Resource Description Framework (RDF) currently in use by the World Wide Web Consortium. The limitations of RDF for Web3 operations prompted The Graph to develop this new standard, ensuring a more efficient and effective data representation framework.
The Graph will soon release a set of tools to facilitate the implementation of the GRC-20 standard, making it easier for developers to adopt this innovative approach. Tal’s Graph Improvement Proposal is currently open for comments, allowing stakeholders to provide valuable input before finalization.
The Graph, launched in 2018, has quickly become a key player in the world of decentralized applications. Its mainnet, which went live in December 2020, provides a global network of APIs known as subgraphs, forming the backbone of numerous DApps and smart contracts. With the goal of simplifying the monitoring and utilization of smart contracts, The Graph offers a seamless open data layer on top of the blockchain.
Claiming to reduce DApp development time from months to days, The Graph rewards contributors with Graph tokens (GRT). With over 70 blockchains already indexed, The Graph continues to expand its reach and impact in the decentralized ecosystem.
In anticipation of its decentralization, The Graph partnered with data provider Chainstack to launch a hosted service for subgraphs. This strategic move demonstrates The Graph’s commitment to evolving alongside the ever-changing landscape of Web3 technology.
Stay ahead of the curve with The Graph’s groundbreaking GRC-20 standard, opening up a world of possibilities for decentralized applications and data structures. Join the conversation today and help shape the future of Web3 data architecture!
