Showing posts with label NEAR. Show all posts
Showing posts with label NEAR. Show all posts

The Graph Launches NEAR Protocol Beta Integration

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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Polkadot, NEAR, Solana, and Celo are now supported by the Graph.

New layer 1 blockchains are being added to the worldwide network of accessible APIs. The Graph has announced that it would support Polkadot, NEAR, Solana, and Celo after its mainnet launch on Ethereum in mid-December 2020.

The Graph, as previously reported, is a technology that allows programmers to create Application Programming Interfaces (APIs) that can query and index blockchain data. It's designed to be an open alternative to current blockchain analytics tools, with the goal of facilitating cooperation and interoperability throughout the decentralized web.

The Graph Foundation's director, Eva Beylin, has emphasized the need of making Web 3.0 as developer-friendly as Web 2.0. As the foundation points out, utilizing a subgraph does not need expert knowledge of the many blockchains' multiple distinct and disparate characteristics, such as their underlying smart contract language.

The Graph already supports Ethereum, IPFS, and POA blockchains, as well as the InterPlanetary File System, a peer-to-peer network for data storage and sharing. Many of the current subgraphs, totaling over 7,000, are already in use by the creators of prominent Web 3.0 decentralized apps, such as Uniswap, AAVE, Decentraland, and Synthetix.

Following the integration of Polkadot, NEAR, Solana, and Celo, The Graph plans to add support for Bitcoin, Cosmos, Avalanche, Binance Smart Chain, Flow, and more cryptocurrencies. The Graph Network's native currency, Graph Token (GRT), which developers get when users query their subgraph, will continue to be an ERC-20 token, as will Ethereum.

The foundation's long-term goal is to support all layer 1 blockchains and to become a widely used indexing and query solution for the whole decentralized internet, making the vast amount of blockchain data available genuinely accessible and actionable. As Beylin put it:

"We believe in supporting many chains so that all developers may create decentralized apps quickly and Web3 adoption can be accelerated." Developers will be able to select whatever chain best fits their requirements, and it will also assist existing Ethereum developers in developing interoperable applications.”

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