In its effort to index the Internet of Blockchains, the Web3 protocol has a new partner. The Graph, a blockchain "search engine," has revealed a beta connection with the NEAR protocol, a scalable, low-cost Layer 1 blockchain. Solana, BSC, and Celo are among the various blockchains with which The Graph has declared integration.
A New Blockchain Has Been Added To The Graph.
The Graph, an indexing system that organizes public blockchain data and makes it available to customers, has announced its beta integration with NEAR Protocol, a Layer 1 blockchain protocol that bills itself as a scalable, less costly alternative to Ethereum.
The Ethereum Virtual Machine (EVM), which may be considered of as a global processor that developers can utilize to design and execute Ethereum-compatible smart contracts and dApps, is not used by NEAR. Indexers will be able to create and execute subgraphs for indexing data to NEAR's protocol, and developers on NEAR will have access to The Graph's blockchain data indexing.
NEAR's indexing and query layer, like its blockchain layer, may now become decentralized. This collaboration between NEAR and The Graph might pave the way for a multi-blockchain future. The integrations are intended to save up developers' time to focus on their primary product rather than maintaining a unique indexing infrastructure.
Erik Trautman, CEO of the NEAR Foundation, commented on the announcement today:
"We founded NEAR with the objective of empowering more innovators to develop on blockchain and fostering a more inventive and egalitarian online infrastructure." As we continue to remove hurdles for developers working on a decentralized network, integrating with The Graph is a significant milestone for NEAR."
This isn't The Graph's first big partnership of the year. The Graph Foundation first revealed ambitions to merge with NEAR, as well as Polkadot, Solana, and Celo, in February. The Foundation expressed its support for Binance Smart Chain the following month.
The Graph was created to be an important part of Web3, which proponents see as a decentralized Internet based on blockchains. The Graph's network of Indexers serves such queries on blockchain data, allowing for more efficient searches of blockchain data across several blockchains (such as trading volume data for an Automated Market Maker like Uniswap). To put it another way, The Graph facilitates the discovery and usage of blockchain data by developers. In The Graph ecosystem, there are around 23,000 developers.
NEAR, like Ethereum, is a blockchain that developers may use to create decentralized apps. It is, however, intended to be faster, less costly, and "climate-neutral," in contrast to Ethereum. Today's integration into The Graph coincides with the opening of NEARCON, the NEAR ecosystem's worldwide conference. The NEAR team revealed $800 million in financing for its ecosystem development only yesterday.
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