The Graph coin (GRT) fell to 55 cents, its lowest price in a number of months, on the heels of disappointing economic and Bitcoin news.
In March, the Graph coin had rocketed to new highs as Bitcoin increased in value. As a result, the price of Graph coin reached nearly two dollars. Since that spike, however, the Graph coin tumbled.
The Graph is an indexing protocol for queuing networks like Ethereum and IPFS. Anyone can build and publish open APIs, called subgraphs, making data easily accessible.
thegraph.com
The graph coin was launched, in part, to finance the Graph platform to query nearly all cryptocurrency related blockchain data using GraphQL. The format is designed to allow immediate access to finite segments of real-time data in hopes of speeding up cryptocurrency transactions.
Current Blockchain Problems
- Slow payment processing (known as settlement) compared to Visa, Mastercard, or American Express
- Low adoption
- Excessive energy use
- Redundant verifications
Future State
- Minimizing blockchain verification and lookups
- Choosing unique verifications e.g., AVS (Visa’s Account Verification Service verifying zip code matches bank account)
- Lightweight settlement processor to reduce complexity
- Minimizing overall energy use
The problems the Graph coin is designed to solve are still plaguing retail transactions globally. The world is yet to see a primary solution to increase transactional velocity and offer instant real-time trust between parties.
