The Graph launches testnet version of the new service that lets developers access blockchain data as well as extract ethereum data as we can see in our latest cryptocurrency news.
The Web3 Infrastructure provider built a new testnet version of the service that will help developers access blockchain data. The Graph launches the testnet version of the decentralized infrastructure that makes it easy for anyone to get data from a blockchain. About 15 node operators signed up to participate in the testnet like Figment Networks and Staking Facilities. These are experienced teams that know what staking is about and the concept of holding large amounts of crypto tokens as well as participating on the network.
The participants will be tasked with testing the security of the network and the performance of the components. Founded in 2018, the Graph’s goal is to give the developers the ability to request specific blockchain data which is typically hard to access but rather than to run a centralized service, it is based on its own blockchain which is enabling to be a decentralized part of the Web 3 Stack. Wolfgang Albrecht who is the co-founder of Staking Facilities added:
“There are heaps of crypto projects competing to do the same thing, and then there are those that are on the frontier, building novel protocols and occupying whitespace. The Graph Network is part of the latter, and we are thrilled to support the team in their mission of growing the decentralization movement through Web3.”
The platform enables users to manage data from Ethereum and the InterPlanetery File system by also planning to introduce support for other networks in the near future. The launch came after a $5 million investment round in June which was used to develop and to rollout the testnet.
The Graph Network is officially live! People all over the world are coming together to build a vibrant decentralized future on top of crypto networks.
— The Graph (@graphprotocol) December 17, 2020
As reported recently, The Graph Company helps other companies find the blockchain data they are looking for. They were selling the GRT tokens ahead of its network launch. GRT buyers will help index and curate data and secure the network. the protocol helps people find and sort blockchain data as they announced today about the release of its own ERC20 token, as they were preparing to launch the Graph Network in 2020.
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