- February 16, 2021
- Posted by: admin
- Category: BitCoin, Blockchain, Cryptocurrency, Investments
Blockchain data indexing protocol The Graph is considering Bitcoin, Polkadot, and Binance Smart Chain among others after launching on Ethereum.
Following a successful mainnet launch on Ethereum in December, The Graph is exploring integrating eight additional Layer-1 blockchains including Bitcoin.
On Feb. 16, The Graph Foundation revealed it is also considering integrating Bitcoin, Polkadot, Near Protocol, Cosmos, Solana, Avalanche, Binance Smart Chain, and Celo.
The protocol already runs on Ethereum having launched on Dec. 17, 2020, and supports the InterPlanetary File System — a peer-to-peer network for storing and sharing data. The Graph has also recently integrated with several DeFi protocols including Uniswap, AAVE, Decentraland, Gnosis, Balancer, and Synthetix.
The Graph, announced in July 2018, allows programmers to build Application Programming Interfaces (APIs) — which it calls subgraphs, to extract blockchain data for decentralized applications built on Web 3.0. The project’s primary goal is to allow developers to easily access on-chain data and build dApps.
The Graph Foundation’s director, Eva Beylin, stated that further chain integrations are a key part of unlocking the next wave of innovation on the decentralized internet, adding:
“Although the protocol now supports Ethereum and IPFS, The Graph is blockchain agnostic. We are really looking forward to adding more developers and Layer 1 chains to our community. While The Graph is built on Ethereum, we also believe in uniting the ecosystem under a multi-blockchain future, making it easy to develop and use Web3.”
To date, over 7,000 subgraphs have been deployed by over 10,000 active developers.
Query fees and rewards on the protocol come in its native ERC-20 Graph Tokens (GRT) which also went live with its mainnet launch. At the time of writing, GRT was trading up 19% over the past 24 hours at $2.20, having gained 215% since the beginning of February.
