If you are a developer building an application or Web3 application, you can use subgraphs for indexing and querying data from blockchains. To date, over 16,000 subgraphs have been deployed by ~20,000 developers for applications, such as Uniswap, Synthetix, Aragon, Gnosis, Balancer, Livepeer, DAOstack, AAVE, Decentraland, and many others. The Graph currently supports indexing data from Ethereum, IPFS, and PoA with more networks coming soon. Developers build and publish open APIs, called subgraphs, that applications can query using GraphQL.
The Graph is the indexing and query layer of the decentralized web. Technical questions about indexing, curating, and delegating can be asked on The Graph’s Discord.
OPTIMISM CRYPTO HOW TO
Demos about how to build a subgraph via The Graph are available here and here. This will make it incredibly easy to build new applications and for developers to share open APIs, called subgraphs.įor more information on how to use The Graph with Optimistic Ethereum, the following material is available: creating subgraphs, becoming an Indexer, delegation guide, and Curator Program. Integration with The Graph on Optimistic Ethereum means developers building on Optimism will have greater access to on chain data. Optimistic Ethereum is an Ethereum L2 scaling solution that uses optimistic rollups to achieve lower fees, latency, and greater throughput while providing a world-class developer and user experience. Chain by chain these integrations are adding the critical infrastructure necessary for Web3 to scale. Over the past few months, support for more than 19 EVM-based solutions has been added including the Polygon integration completed in February, followed by Arbitrum in June, and soon Optimism. This marks another important integration for The Graph as the community continues to add new chains to the hosted service. Developers building on Optimistic Ethereum are also now eligible for grants through The Graph Foundation, such as building dapps with Optimism and The Graph, developing subgraph tooling, or educational materials! The Graph will go live on the hosted service once Optimism launches publicly, and is excited to provide support to developers in the Optimism community. The Graph will be providing indexing and querying services to developers building on the Optimistic Ethereum L2 to help Ethereum scale. The team is pushing to true decentralized governance, over time, so the protocol is community led.Optimism and The Graph have partnered.The project utilizes a layer-2 concept, Optimistic Rollups, and EVM compatibility to effectively scale Ethereum-based applications.Optimism plans on working towards enhancing the protocol to cut costs even further. One estimate pegged the savings as representing, on average, a one-third reduction relative to the typical Ethereum gas costs.
The project's blog said, around that time, that Optimism users had saved $1 billion in gas over the last year on mainnet, “during which thousands of codes were deployed, and three forks went live.” What are the main benefits of OP?
OPTIMISM CRYPTO SERIES
It’s touted as a huge fix for a big problem, that being the high cost of building on Ethereum.īack in March, at the time of the Series B round, Optimism said it was valued at $1.65 billion. This happens over a longer-term period and is based on two age-old factors: supply (very limited as of June 1, 2022, with just 5% of the total supply having been put into circulation) and demand, as dictated by the success of the project. How is the price of OP determined?Įarly recipients of a highly anticipated airdrop, which began in late May of 2022 and ramped up on June 1, tend to cash out quickly and then a coin’s market settles at a natural price. “The Citizens’ House will govern public goods funding, creating a flywheel of protocol development,” the project said.
Together, they will drive rapid, sustainable growth in Optimism, Ethereum, and the new internet, the project said. The Optimism Collective said it will be governed co-equally by two houses, Citizens’ House and the Token House. Martin Köppelmann, co-founder of Ethereum Virtual Machine (EVM)-compatible blockchain Gnosis, told Cointelegraph he thinks Optimism is one of the “leading” projects tackling Ethereum’s scaling issues. "The special sauce to Optimism’s scaling methodology is a technique called optimistic rollups, whereby multiple transactions are ‘rolled up’ into one transaction, settled on another blockchain, with receipts fed back to the main Ethereum blockchain," Decrypt said. Optimism is a layer-2 that aims to speed up Ethereum transactions and cuts their costs by settling them on another blockchain using advanced data compression techniques, Decrypt said.
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