What is blockchain and how does it work

What is Blockchain and How does it work

So many of the activities we participate in happen or are organized online digital platforms. But today most of that software and data is owned and controlled by giant corporations making it hard for small and individuals to compete have a say and impact the world around them.

Crypto networks are creating a radically better foundation for society software and information. All data is stored and processed on open networks with verifiable integrity making it possible for developers to build and publish open source code. That’s guaranteed to run as advertised the graph is a protocol for organizing open data and making it easily accessible to applications. Curators help organize data through open apes called subgraphs.

A network of computer operators called indexers process subgraph data for efficient retrieval. What google does for the web the graph does for blockchains by creating a solid foundation for data the graph is paving the way for a flourishing ecosystem of decentralized applications or daps that can help change the way people cooperate and organize on the internet. Data powers the world around us it’s how we are able to communicate trade understand what’s happing and make decisions.

On the graph data is grouped into open apis called subgraph. Anyone can access data from subgraphs with just a few keystroke using a convenient query language called graph. As data keeps getting added into the graph individuals need to organize and surface. The most relevant data in a decentralized way. That’s where curators come in curators signal on quality subgraph by depositing GRT. The graph native token in return for curation shares. Curation shares are minted on bonding curve which means that the earlier signal.

The more shares you get it also means that when you go to withdraw your GRT. You could end up with more or less graph tokens than you started with when curators signal on a subgraph that creates a reward to incentivize. Indexers to index that subgraph for their work. Curators earn a cut of query fees on the subgraphs they are curating by accurately assessing with subgraphs are most valuable and likely to produce query fees.

Curators are able to efficiently allocate resources on the network and help organize the data for the crypto economy. The graphs decentralized network needs to process a tremendous amount of data. This data is processed and served by a network of computers called indexers. Indexing is a way of organizing data for efficient retrieval.

let’s say you want to find a job as a barista in Italy. On the decentralized web. There could be millions of job openings worldwide if you had to flip through them one by one to find a match. That would take you a very long time that’s where indexing comes in if someone with a computer kept track of all the job openings sorted by country and with support for search you could quickly find that job you are looking indexers compete in a query market to provide the best indexing service at the lowest price.

Query fees are paid using micro payments that cost. Small fractions of a cent. This creates an incentive for independent to provide this useful service and we don’t need to rely on big corporations to control our data. Indexers need to stake GRT in order to provide the service to the network. This creates economic security because if they misbehave. They can lose their GRT to create more of an incentive anyone can become a delegator and delegate their GRT to

An indexer with the extra stick indexers can earn more fees and rewards and pass a portion of those earnings back to their delegators by delegating GRT to indexers you can help secure the network and make sure that there are plenty of indexers to process and serve all of the data for the crypto economy.

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