Is web3 a cryptocurrency?

The concept of Web3 is one that we have already heard a lot these days and that is gaining more and more strength in the world. Although Web3 is not a cryptocurrency, it is something that will be able to boost them.

An example of a good integration between Web3 and a cryptocurrency is The Graph (GRT).

What is The Graph (GRT)?

The Graph is an open source protocol, designed in the spirit of decentralization to collect information from the blockchain without third-party collaboration.

With the launch of The Graph’s primordial network, a network of service providers was built where decentralized applications (dApps) have the possibility to operate seamlessly and with the blockchain information easily accessible.

How is the market?

The Graph had a public marketing and a private marketing, raising $12 million from its public token marketing. The Graph raised $5 million quite a bit more from a private marketing funded by Coinbase Ventures, Digital Currency Group, and Framework Ventures.

Data from Cointelegraph Markets Pro and TradingView present that since touching a low of USD 0.34 on January 24, GTR has made several attempts to steadily break above the primary degree of support and resistance at USD 0.48.

How does The Graph work?

The Graph protocol enables developers and network competitors to use public and open APIs to build subgraphs for a variety of dApps, and to query, index and collect information.

The network is supported by the Graph Node and developers and competitors of the network have the possibility to use GRT tokens to pay for the use and construction of subgraphs.

In addition, in The Graph network customers consulting subgraphs have the possibility to pay network competitors with GRT tokens through a portal.

What makes The Graph network important?

The Graph network has been launched as the first blockchain scheme of its kind. As the first decentralized marketplace for querying and indexing information for dApps, The Graph has a unique utility.

The Graph is the first decentralized marketplace to address efforts related to building dApps in terms of solving indexing drawbacks and ownership concerns.

The growing fame of Web 3.0

The overall purpose of Web 3.0 is to move beyond the current way of the Internet, in which the vast majority of data and content remains controlled by huge technology organizations, to a more decentralized realm in which public data is more freely available and individual data is controlled by individuals.