Graph Protocol Launches Graph Explorer For Gathering Data From The Ethereum Network
Graph Protocol Launches Graph Explorer To Be Used To Gather Data From The Ethereum Network
The Information Technology and Services company Graph Protocol launched a new service and graph explorer called The Graph. The intention is to gather data from the Ethereum (ETH) network and InterPlanetary File System (IPFS). Ethereum is one of the largest blockchain networks around the world.
The Graph will allow developers to easily index data related to smart contracts running on the Ethereum blockchain. At the same time, they will also be able to unlock new data sources and improve the capabilities of several decentralized applications (dApps).
The firm has also raised $2.4 million in a seed round that was led by Multicoin Capital. Other investors were Compound VC, CoinFund, DTC, and Kilowatt, among others.
According to Kyle Samani, Managing Partner at Multicoin Capital said that the problem that the firm wants to solve is very important. According to him, it will also have expansionary effects on the market as a whole.
The research presentation was made by the company on Graph Day, an annual blockchain summit in San Francisco and that was hosted by Graph Protocol Inc. At the event, they shared the plan they have for decentralizing the protocol.
Brandon Ramirez, Research Lead of Graph Protocol Inc, commented about it:
“This spec is open source and includes details about indexing, querying, payments, token mechanics, and incentive design in the network. Our team is calling on researchers and academics to review the specs and help us fulfill our mission of accelerating decentralization.”
Additionally, the project announced that they are working with seven launch partners such as Dharma, Compound, Uniswap, ENS, Origin, Decentraland, and Livepeer.
The co-founder of the project, Yaniv Tal, explained that Web3 is an evolving platform that is open, secure, stable and also verifiable. Nevertheless, he accepted that it is difficult to build usable applications with it. With the latest tools released by the company, developers will have an easier task for building the upcoming applications.