As per the recent reports, an open API platform ‘The Graph Network’ has launched its highly anticipated mainnet. The mainnet was launched by ‘The Graph Network’ on December 17, 2020. The network has confirmed that it has not launched this platform for the users but the developers in particular.
With the help of the new system introduced by ‘The Graph Network’, the developers will be able to easily use, index, publish and search data from blockchains based on the public networks.
The Graph has revealed how they were able to achieve something that is considered impossible when it comes to collecting data. The firm confirmed it was made possible through an open and global network of interfaces based on Application Programming Protocols. The firm stated that these application programming interfaces (APIs) are called subgraphs.
The majority of the most popular decentralized applications are based on the subgraph infrastructure. When it comes to transparency, public blockchains are held in top regard. However, with such high volumes and a wealth of useful data, it is very difficult for the data to be queried.
Tegan Kline, who is the business development lead at Graph, commented on the data currently available on the public blockchains. He stated that the public blockchains are full of data and this enormous amount of data is just lying there to be organized. To sum it up in a single sentence, Kline stated that data on public blockchains is just like the web (internet) but without the aid of Google.
When it comes to using/searching public blockchain data, the first thing that comes to mind is whether the Graph is a necessary initiative or not. Because there are plenty of tools and platforms that have the ability to collect and process user data from the blockchain networks.
The major drawback to such tools and systems is that they tend to work in centralized environments. As a result of this, it takes these platforms months to collect and process the data from the decentralized blockchains.
The Graph has clarified that it is not in the market to compete with such tools or platforms. The main goal of the firm is to facilitated and help such tools in collecting/processing data from the blockchains in a matter of minutes.
This is the reason that the developing team at the Graph has urged other data collecting firms to adopt its data-collecting platform.
The Graph also stated that anyone with the right skill-set is free to create their own APIs and have the full right to publishing them. Based on the APIs, the creators/developers also receive a small number of fees whenever the query is run through a subgraph.