The Graph protocol, which launched its mainnet on Ethereum last December 17, 2020, is looking into adding eight more L1 (Layer-one) blockchains, which will include Bitcoin, Binance Smart Chain, Polkadot, NEAR, Cosmos, Solana, Avalanche, and Celo.
The Plan to Add More Layer-1 Blockchains
The Graph, a decentralized protocol for indexing data from blockchains, had recently integrated with other DeFi projects like AAVE, Synthetix, Uniswap, and many more. The new L1 blockchains under review, if chosen, will be integrated with The Graph’s current list of supported chains, which would enable data sharing across multiple networks in The Graph’s ecosystem for developers to work on interoperably as they please.
For instance, the Polkadot integration would allow developers working on layer-2 Polkadot projects to get access to data they might need from Bitcoin or other layer-1 chains.
The Integration Will Aid the Development of Web3 Ecosystem
This development will make it possible to build apps using the best features from the other blockchains. The Graph Foundation Director, Eva Beylin, said that this is aimed to speed up the growth of the web3 ecosystem.
The startup proposes to launch new layer-1 integrations in the coming months depending on the engagement and level of involvement of the community. Beylin believes that the integration will unlock the next big innovations in the decentralized network. In addition, the added blockchains will allow developers to enjoy the best of both worlds when they want to execute cross-chain projects.
The protocol also aims to be a one-stop-shop for developers and users. The platform had earlier stated in 2018 that it would allow programmers to build APIs to retrieve data from a blockchain for web3 apps.
In line with this, the protocol will enable developers to have easy access to data across chains to build apps. Currently, more than 10,000 developers have successfully deployed subgraphs on the protocol. The native token (GRT), which was also launched alongside the mainnet in 2020, is used for rewards and Query fees on the protocol. After the token had risen by over 215% over the course of the month, certain marketers are predicting that the token might hit the $15 mark before the year runs out.