According to Coinbase, GRT is an ERC20 token that “powers the Graph Protocol, a decentralized data protocol that provides a queryable global graph of blockchain data.” In other words, GRT is a tool that helps developers build decentralized applications (dApps) on the Ethereum blockchain.
The Graph Protocol is an open-source project that anyone can contribute to. The protocol is designed to make it easy for developers to query the Ethereum blockchain for data.
The Graph Protocol is powered by GRT tokens, which are used to incentive participants in the network (known as “indexers”) to keep the data up-to-date. Indexers are rewarded with GRT tokens every time they successfully index a piece of data.
GRT tokens are required to access the data on the Graph Protocol. However, developers can use the free tier of the protocol, which allows them to index up to 1 GB of data per month.
If a developer needs more than 1 GB of data per month, they can purchase a subscription from one of the indexers.
The Graph Protocol has been live on Ethereum mainnet since December 2018 and is currently being used by some of the biggest dApps in the space, including MakerDAO, Gnosis, Balancer, and AAVE. The protocol is also being used by major enterprises such as Microsoft and Samsung.
GRT tokens are available for purchase on Coinbase Pro and CoinGecko Beam.