World

when

The Graph

The Graph, the decentralized indexing system that works much like Google for blockchains, has introduced a data standard for Web3. Called GRC-20, the standard would define how information is structured, shared, and connected across decentralized applications, according to The Graph’s website in a blog <a data-ct-non-breakable="null" href="https://github.com/graphprotocol/graph-improvement-proposals/blob/main/grcs/0020-knowledge-graph.md" rel="noopener noreferrer nofollow" target="null" text="null" title="null">timed</a> to developer Yaniv Tal’s Graph Improvement Proposal.
<h2 id="a-new-way-to-view-knowledge">A new way to view knowledge</h2>
The proposal for GRC-20 builds on the concept of knowledge graphs <a data-ct-non-breakable="null" href="https://www.geobrowser.io/space/0x2B5357e08aE291848Ff467eB1a8239d2e392bef5/0e42984f-bf78-4f52-8b1e-4f04af6611b5" rel="noopener noreferrer nofollow" target="null" text="null" title="null">introduced</a> by Tal in June.
“Knowledge&nbsp;is created when information is linked and labeled to attain a higher level of understanding,” the blog explained, and knowledge graphs capture the connections and relationships between pieces of information.
The GRC-20 standard would replace the Resource Description Framework (RDF), which is the current framework for data representation for the World Wide Web Consortium. The RDF is inadequate for Web3 for a variety of technical reasons. According to The Graph’s blog:
<blockquote>
 “GRC-20 creates a common language for knowledge, so we can fully realize the vision of an open, verifiable and composable web3.”
</blockquote>
GRC-20 depends on core concepts of:&nbsp;
<blockquote>
 “Spaces&nbsp;for grouping information,&nbsp;Entities&nbsp;and&nbsp;Relations&nbsp;for representing individual pieces of data, and&nbsp;Types&nbsp;for adding structure to information.”&nbsp;
</blockquote>
Entities, Relations and Types are defined by developers. The Graph will release a set of tools to aid in using the GRC-20 standard in the coming weeks. Tal’s Graph Improvement Proposal is open for comments for an unspecified time before it will be finalized.
<figure><img alt="The Graph introduces GRC-20 standard for Web3 data structure" src="https://s3.cointelegraph.com/uploads/2024-11/019350ad-9845-71a7-a141-902b12b261bf" title="">
 <figcaption style="text-align: center;">
 Knowledge graph of The Graph. Source: <a data-ct-non-breakable="null" href="https://thegraph.com/blog/grc20-data-standard/" rel="noopener noreferrer nofollow" target="_blank" text="null" title="https://thegraph.com/blog/grc20-data-standard/">The Graph</a>
 </figcaption>
</figure>
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/subgraph-hosted-service-launches-as-the-graph-prepares-for-decentralization" rel="noopener noreferrer nofollow" target="null" text="null" title="null">Subgraph hosted service launches as&nbsp;The Graph prepares for decentralization</a>
<h2 id="helping-developers-find-information">Helping developers find information</h2>
The Graph was launched in 2018 and its mainnet went live in December 2020. It <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/blockchain-data-gets-simpler-as-the-graph-launches-mainnet" rel="noopener noreferrer nofollow" target="null" text="null" title="null">is a global open network</a> of application programming interfaces (APIs) referred to as subgraphs that form the basis of decentralized applications (DApps), that is, smart contracts.
Developer Tegan Kline told Cointelegraph at the time, “You can think of The Graph as an open data layer on top of the blockchain,” making smart contracts easier to monitor and use.
<figure><img alt="The Graph" src="https://s3.cointelegraph.com/uploads/2024-11/019350b2-47fe-77b0-8201-ca94f5c4a6c1" title="">
 <figcaption style="text-align: center;">
 Source: <a data-ct-non-breakable="null" href="https://x.com/PeterPanYes/status/1859704842580787321" rel="noopener noreferrer nofollow" target="_blank" text="null" title="https://x.com/PeterPanYes/status/1859704842580787321">Ahmed Abdelmalek</a>
 </figcaption>
</figure>
The Graph claimed it could reduce the time needed to develop DApps from months to days. Contributors to The Graph receive Graph tokens (<a data-ct-non-breakable="null" href="https://cointelegraph.com/the-graph-grt-price-index" rel="noopener noreferrer nofollow" target="null" text="null" title="null">GRT</a>). There are over 70 blockchains indexed by The Graph.
Data provider Chainstack <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/subgraph-hosted-service-launches-as-the-graph-prepares-for-decentralization" rel="noopener noreferrer nofollow" target="null" text="null" title="null">launched a hosted service</a> for subgraphs when The Graph stopped hosting them in preparation for its decentralization.
Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/advanced-ai-system-already-self-aware-asi-alliance-founder-agi/" rel="noopener noreferrer nofollow" target="null" text="null" title="null">Advanced AI system is already ‘self-aware’ — ASI Alliance founder</a>
&nbsp;

The Graph introduces GRC-20 standard for Web3 data structure

Table of Contents

Cointelegraph

Other articles published on Nov 21, 2024

Japan’s PM Shigeru Ishiba Pledges Tax Cuts for Crypto in New Stimulus Package

Stellar Price Prediction for Today, November 21 – XLM Technical Analysis

BNB Eyes $1,630 Target—Why $662 Holds the Key for Investors

Crypto.com Partners with Triple-A to Revolutionize Crypto Payments in E-Commerce

Best Wallet raises $500k in new ICO capturing investor attention

Dogen Eyes $30 Mark While Pepe and Dogecoin Up For Major Gains in the Altcoin Season

Join our free newsletter for daily crypto updates!