Overview
The Graph is a decentralized indexing protocol that organizes and queries blockchain data, making it easier for developers to build Web3 applications. Launched in December 2020, it uses the GRT token to coordinate network participants. Applications use GraphQL subgraphs to retrieve indexed on-chain data instead of scanning blocks themselves.
How It Works
Developers define subgraphs that specify what data to index from a blockchain. Indexers run nodes that process and store this data, Curators signal which subgraphs are worth indexing, and Delegators stake GRT to support indexers. When an application queries a subgraph, it pays a fee to the network, and indexers earn rewards for providing reliable data.
Why It Matters
The Graph removed a major bottleneck in dapp development by making blockchain data easy to query, and it became standard infrastructure for DeFi and NFT applications. Its decentralized indexing model contrasts with centralized data providers, though it depends on a healthy economy of indexers and curators. As of 2026 it is expanding to more chains and AI-related data services.
Related Concepts
The Graph is an indexing layer for blockchain data, related to the data infrastructure of DeFi and NFT apps. It connects to the broader concept of data availability and the modular infrastructure stack.