Hassan Maishera
On Thursday, the Graph Foundation announced via a blog post that it has launched GRC-20, a proposed common language for data across web3. Knowledge graphs are data structures that represent information as interconnected entities and relationships.
GRC-20 organizes knowledge in a structured yet highly flexible way, using a few core concepts: Spaces for grouping information, Entities, and Relations for representing individual pieces of data, and Types for adding structure to information.
On The Graph, knowledge is organized into spaces. Anyone can create a space for a community, project, or individual. There are public spaces, personal spaces, and private spaces.
Each person, place, thing, or concept in The Graph is represented as an Entity with a unique ID. In graph terms, entities are nodes, relations are edges, and entities can have various types. Through these interconnected Spaces, Entities, and Relations, GRC-20 creates a foundation for representing and sharing data across web3.
The Graph is an indexing protocol for decentralized applications that allows developers to access blockchain data efficiently. Developers can build subgraphs that define how to ingest, index, and serve blockchain data in a verifiable way. GRT, the native token of The Graph Network, is up 1.5% in the last 24 hours and is currently trading at $0.2214.
