Currently central governments impose more restrictions on how people can use their funds. Giant IT corporations actually gathering, monopolizing and selling data of the people, who use their products. With the help of blockchain and web 3.0, using such instruments as the Graph, people can at last free themselves and be truly sovereign. In the web 3.0 data can be changed and used in different ways by various agents, while blockchains can track how and when it happened to prevent maleficent changes in data.
The Graph is that important link between that raw data and users. I think that the possibilities that the Graph provide to web 3.0 are really breathtaking. It solves real problems of using the raw blockchain data by the dApps, providing query layer. Like Google enhance the development of web 2.0, the Graph will increase the adoption of web 3.0. The Graph is the perfect instrument to interact with blockchains, because it is based on GraphQL language. GraphQL was developed by Facebook to overcome inefficiency of traditional APIs. Though SQL can also be the choice here, GraphQL is more ergonomic and was designed to be used in decentralized environment.
The transformation of the web2.0 to web3.0 happens gradually and as part of it we can see the rise of DeFi projects, which can be the cornerstone of future financial system. A lot of these projects have already created subgraphs that empower their dApps. The real adoption is unfolding before our eyes, where market decided that the Graph is worth using. The number of queries is growing rapidly and has already reached 10 billion monthly in November 2020.
The real beauty of the Graph is its decentralized basis, where different participants of the network are responsible for separate parts. Indexers are node operators, who provide indexing and query processing services. Curators develop subgraphs and signal to Indexers which subgraphs should be indexed by the Graph network. Delegators, who delegate their stake to Indexers for fees to support the network. As we can see all participants are incentivized to support the best and most used subgraphs and therefore stabilize the network.
Though all of network members are important, I would like to comment specifically on curators. In my opinion they will be the power engine of the Graph, since it is their duty to decide which subgraphs are worth indexing and, therefore, what blockchain data will be obtained by the end user. In the decentralized environment of the Graph they will be the “invisible hand” of the market. It will be crucially important for curators to understand and follow current market trends to execute their mission correctly.
I would like to conclude that I’m extremely optimistic about the Graph and I’m sure that if project continue to be flexible, it will achieve great results and fulfill its role in the advent of web3.0.