The Graph, a decentralized indexing system that operates similarly to Google for Blockchain, has just introduced a new data standard for Web3. Called GRC-20, this standard will define how information is structured, shared, and connected between decentralized applications, according to a blog post on The Graph's website based on the Graph Improvement Proposal by developer Yaniv Tal.
A New Perspective on Knowledge
The GRC-20 proposal builds on the concept of a knowledge graph that Tal introduced in June.
"Knowledge is created when information is linked and labeled to achieve higher levels of understanding," the blog explains, and the knowledge graph captures the connections and relationships between pieces of information.
The GRC-20 standard will replace the Resource Description Framework (RDF), which is the current framework for data representation in the World Wide Web Consortium. RDF is not sufficient for Web3 for various technical reasons. According to The Graph's blog:
"GRC-20 creates a common language for knowledge, so that we can fully realize the vision of an open, verifiable, and interoperable web3."
GRC-20 is based on core concepts such as:
"Spaces to group information, Entities and Relations to represent individual data pieces, and Types to add structure to the information."
Entities, Relations, and Types are defined by developers. The Graph will release a set of tools to support the use of the GRC-20 standard in the coming weeks. Tal's Graph Improvement Proposal is open for feedback for an unspecified period before being finalized.
The Graph's knowledge graph. Source: The Graph
Helping Developers Find Information
The Graph was launched in 2018, and its mainnet was launched in December 2020. It is a global, open network of application programming interfaces (APIs) called subgraphs, which form the foundation of decentralized applications (DApps), or smart contracts.
Developer Tegan Kline previously told TinTucBitcoin that "You can think of The Graph as an open data layer on top of Blockchain," making smart contracts more trackable and usable.
Source: Ahmed Abdelmalek
The Graph claims it can reduce DApp development time from several months to just a few days. Contributors to The Graph will receive Graph Tokens (GRT). More than 70 Blockchains are indexed by The Graph.
Data provider Chainstack has deployed a hosting service for subgraphs as The Graph has stopped hosting them to prepare for decentralization.
