Graph migrates settlement layer to Arbitrum from Ethereum.
The Graph is a decentralized protocol that indexes and queries blockchain data. It has begun migrating from Ethereum to the layer 2 scaling solution Arbitrum. This makes The Graph one of the largest Ethereum apps to transition to a layer 2 rollup, a move that Graph developers Edge & Node say will decrease barriers of entry for The Graph’s participants without compromising on security.
The Graph allows web3 developers to view blockchain data without trusting centralized intermediaries for the data’s accuracy. Its move to layer 2 platform Arbitrum is an effort to decrease gas costs and increase transaction speeds. Arbitrum operates as a separate blockchain that runs alongside Ethereum. To reduce fees for users without losing all of Ethereum’s security guarantees, Arbitrum bundles up large groups of transactions and then passes them back down to Ethereum for all-at-once settlement.
The Graph’s migration involves transferring its “settlement layer” from one network to another – rather than recording and settling activity directly on Ethereum, The Graph will now settle transactions on Arbitrum.
With this transfer to Artbitrum, The Graph’s costs are lower. So, it is expected that there will likely be more indexers that spin up on the network and more delegators that get involved because the barrier to entry is lower and the cost isn’t as high. The native tokens for The Graph and Arbitrum, GRT and ARB, have both remained stable in the past 24 hours amid The Graph’s transition to Arbitrum. The Graph enables developers to query data from 40 networks and raised $50 million in a 2022 funding round, which saw participation from Tiger Global, Blockwall Digital, Fenbushi Capital, FinTech Collective, and Reciprocal Ventures.
The article was edited by Sam Kessler.
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