Looking back on the two months of curator activities, I feel rewarded and inspiring, because I really feel that I am participating in a project that makes a huge change in the Internet. Here are some of my learning and participation in the past two months and experience.
The Graph is the Google of the blockchain?
Some people compare The Graph to blockchain Google. In the Internet era, data is the core huge market, and it is the basis of almost all businesses. Like Google, Facebook and many e-commerce companies actually use data as the core. After the rise of Web3 centralization, this is an even more imaginative field.
The Graph is more about competing with API providers like AWS and Azure, data indexing services and centralized cloud service providers. The vast majority of existing competitors are centralized solutions, which means that they operate their own servers, which brings security and the risk of stopping operations. They also incur fees such as renting servers and increase the cost of applications. The Graph network will be the first and only public and open API that is decentralized and supports building serverless applications.
The core of The Graph
I think the core of The Graph is community and network effects. I think this is essential for all projects that pursue complete decentralization.
Subgraph is a new open data API standard that provides an unimaginable and convenient way for everyone and developers to obtain blockchain data. Otherwise, this is a very challenging problem, requiring a lot of development work and centralized servers. The Graph provides web3.0 with a very core and necessary middleware.
The Graph’s significance for Web3.0
I think Web3 represents a completely new economic distribution method and social collaboration model. The current network architecture gives any server operator great power. Server administrators have unilateral power to set rules, grant and revoke access rights, and control data. Under normal circumstances, users have no voice or awareness. Information is asymmetric, which leads to an imbalance of power, so a small number of monopolistic enterprises control most of the industry or social resources. Monopoly makes it difficult for individuals to contribute their talents and obtain matching economic benefits. It is difficult for users to have the right to choose.
Web3 provides a technical foundation and opportunities to support a new decentralized business, economic and social operation mode. The Graph hopes to support the realization of the vision of Web 3.0 and help developers establish a new collaboration mechanism in the blockchain era. 1. By creating tools that can improve developers’ experience of indexing and querying blockchain data, fully decentralized applications are made possible. 2. Establish a global open API network that is not controlled by a monopolist and protected by various actual participants or stakeholders.
About the curator
As a curator, we will not be cut by Slashed due to bad behavior, but we will try to reduce the curator’s motivation to make bad decisions and damage the honesty of the network by collecting taxes. If the curator chooses to guide low-quality subgraphs, the curator will earn less query fees because there are fewer queries to process or there are fewer indexers to process these queries. On the contrary, the sooner the curator guides the higher quality subgraphs, the better the benefits can be obtained.
Conclusion
What excites me about The Graph is that The Graph has thoroughly thought about the incentives and uses of each role to ensure that the network can operate efficiently under the economic model under the condition of decentralization. And use novel economic models to incentivize data to ensure open, efficient, and truly decentralized markets and networks, while allowing everyone to participate.
For more information, visit The Graph website: https://thegraph.com
