Friday, June 9, 2023

The Graph Evaluates L1 Blockchains


The Graph Foundation announced today a new list of Layer 1 blockchains considered for integration.

These might add to The Graph’s current supported chains of Ethereum and IPFS. It allows for cross-chain querying of subgraphs (open APIs) for data.

Data retrieval in several Ethereum apps, such as Uniswap, AAVE and Synthetix already uses the Graph’s subgraph-based architecture. Furthermore, utility token known as the Graph Token (GRT) uses to secure the Graph Network’s smart contracts on Ethereum. With the help of The Graph and the State Channels team, Ethereum Scalability continues to bolster.

The Graph’s Purpose

The Graph’s purpose is to make accessing on-chain data and developing decentralized apps as simple as possible for developers. As a result, it’s critical to support all blockchains that meet technical requirements. It also adheres to current regulations. The Graph is helping to promote overall Web3 development by expanding to additional Layer 1s. At the same time enable current Ethereum developers to construct interoperable applications.

On the other hand, The Graph Foundation’s Director is Eva Beylin. She stated that the team is trying to accelerate the rising trajectory of the Web3 ecosystem after launching mainnet. It also includes guaranteeing that people can establish a subgraph and readily access data from many Layer 1 blockchains. Regardless of which one’s used. Furthermore, the company believes this is a critical component of releasing the next wave of innovation on the decentralized internet.

The Graph has spent three years building subgraph features and perfecting the Graph Node for Ethereum. It now extends to other blockchains. Despite the fact that The Graph Network is expanding to include different chains, Ethereum will remain the standard. At the same time, GRT will remain an ERC20 token.

Bitcoin, Polkadot, NEAR, Cosmos, Solana, Avalanche, Binance Smart Chain, and Celo are among the blockchains currently being investigated. This is based on community feedback.

The Layer 1 infrastructure, as well as the corresponding developer communities, are now investigated by the Graph community. In the coming months, the next Layer 1 blockchains are scheduled to be onboarded. Easy integration, number of developers and applications, excitement and rigor from the community and The Graph Forum, and alignment with The Graph’s goals and the Web3 movement. These are all important criteria for the next integrations.

Interoperability: A source of Frustration?

Interoperability between blockchains has been a source of frustration for developers. As the DeFi and NFT domains mature, applications will require to communicate with a variety of protocols and chains. With over 7,000 subgraphs deployed to date, The Graph’s progress has helped to overcome those obstacles.

Additional Layer 1 integrations will greatly expand the number of subgraphs. The dApps’ capacity to work in a multi-blockchain ecosystem, giving users more choice and the best Web3 experience will expand. Developers may learn to use subgraphs without knowing the chain’s underlying smart contracting language. This will help to accelerate the overall transition from Web2 to Web3.

Although the protocol currently supports Ethereum and IPFS, The Graph remains blockchain agnostic, according to Eva Beylin. It brings excitement to welcome new developers and Layer 1 chains into the community. While The Graph builds on Ethereum, it believes in merging the ecosystem into a multi-blockchain future to make Web3 development and use more available. By providing cross-chain subgraph support, developers are able to make the most of what each blockchain has to offer.

The Graph Accepts Applications

The Graph Foundation is currently accepting applications for The Graph Grants Program. It is open to developers, researchers, and community members. A grant for Protocol Infrastructure, Tooling, Decentralized Applications, or Community Building is available to anyone who contributes to the candidate Layer 1 blockchains. In 2021, the Foundation plans to award up to 25 million GRT in grants to The Graph ecosystem.

The Graph’s multi-blockchain extension is assisting in the resolution of blockchain composability challenges. This is by developing decentralized APIs that provide data from several chains. App developers may now communicate with blockchains without having to design a proprietary server or back-end infrastructure thanks to The Graph. This minimizes friction and makes blockchain development more intuitive. This kind of query layer compatibility is essential for making multi-blockchain apps completely decentralized. The Graph is excited to work with blockchain developers and is a firm believer in the Web3 goal.

Miguel Garcia
Miguel Garcia
Miguel Garcia is a writer for Cryptoconstellation. Miguel has always been fascinated with Crypto. He has experience in Business and finance. Miguel loves sport cars and football.

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