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The Graph has introduced Scalar, a microtransaction system meant to enable new ways for the platform’s node operators and data providers to make money.
The Graph, which describes itself as “the indexing and query layer of the decentralized web,” functions as a link between decentralized applications (dapps) and different blockchains, providing a data querying platform that other blockchains and projects can use for their data requirements. The platform enables participants to package queries into “subgraphs,” custom feeds that provide application programming interface (API) data for use by blockchains and dapps.
The platform supports decentralized finance (DeFi) projects, including Uniswap, Synthetix and Aave, as well as major blockchains Polkadot, Solana, NEAR and CELO. The project also has its own native token, GRT.
Using Scalar, node operators have a new way to monetize their infrastructure through query fees paid in GRT (+0.97%), and data providers can be paid directly for making useful data available for apps without paywalls and ads,” The Graph Foundation said in a statement, noting that the volume of transactions on the network created the need for a microtransactions infrastructure beyond existing options.
“The major jump in Web3 use cases” including DeFi and non-fungible tokens (NFTs) “has created unprecedented demand for a truly decentralized and scalable query processing system,” the foundation said.
Scaling transactions with state channels
Scalar was co-developed by The Graph Foundation and software developer Edge & Node with Connext, a peer-to-peer, cross-chain liquidity network specializing in microtransactions. Using state channels, where users can interact directly with one another more efficiently outside of the blockchain, Scalar aggregates and compresses transactions before they are finalized on-chain.
The Graph, which describes itself as “the indexing and query layer of the decentralized web,” functions as a link between decentralized applications (dapps) and different blockchains, providing a data querying platform that other blockchains and projects can use for their data requirements. The platform enables participants to package queries into “subgraphs,” custom feeds that provide application programming interface (API) data for use by blockchains and dapps.
The platform supports decentralized finance (DeFi) projects, including Uniswap, Synthetix and Aave, as well as major blockchains Polkadot, Solana, NEAR and CELO. The project also has its own native token, GRT.
Using Scalar, node operators have a new way to monetize their infrastructure through query fees paid in GRT (+0.97%), and data providers can be paid directly for making useful data available for apps without paywalls and ads,” The Graph Foundation said in a statement, noting that the volume of transactions on the network created the need for a microtransactions infrastructure beyond existing options.
“The major jump in Web3 use cases” including DeFi and non-fungible tokens (NFTs) “has created unprecedented demand for a truly decentralized and scalable query processing system,” the foundation said.
Scaling transactions with state channels
Scalar was co-developed by The Graph Foundation and software developer Edge & Node with Connext, a peer-to-peer, cross-chain liquidity network specializing in microtransactions. Using state channels, where users can interact directly with one another more efficiently outside of the blockchain, Scalar aggregates and compresses transactions before they are finalized on-chain.
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