The developers of The Graph project presented the Scalar microtransaction system, which opens up new ways of earning money for node operators and data providers.
According to the description of the project The Graph, the platform created by the developers is a “level of indexing and queries in the decentralized network”, which functions as a link between decentralized applications (dapps) and various blockchains. The platform allows members to batch requests into subgraphs – custom channels that provide API data for use by blockchains and decentralized applications.
The platform supports DeFi projects including Uniswap, Synthetix, and Aave, as well as the Polkadot, Solana, NEAR and CELO blockchains. The project has its own GRT token.
“The Scalar microtransaction system opens up a new way for node operators to monetize their infrastructure by charging per request to GRT, and data providers can be paid directly to provide payload for applications without paid access or ads,” according to the Graph Foundation.
The developers noted that the volume of transactions on the network created a need for a microtransaction infrastructure beyond existing options.
“The boom in Web 3.0 applications, including DeFi and non-fungible tokens (NFT), has created unprecedented demand for a decentralized and scalable request processing system,” the developers write.
Scalar was created by The Graph Foundation and Edge & Node in partnership with Connext. Through the use of two-way channels where users can more efficiently interact with each other directly outside the blockchain, Scalar aggregates and compresses transactions before they are confirmed on the blockchain.
“As part of the Graph ecosystem, we started exploring two-way channels a little over two years ago. And everyone said we were crazy, ”said Tegan Kline, co-founder and business leader of Edge & Node. “We have done a lot of research related to two-way channels. These channels will now be used for the first time in a large-scale application. Scalar is an important infrastructure element in the decentralized application industry. We will be using this solution in the Graph ecosystem to be able to handle billions of requests on the decentralized Graph network. ”
According to the platform, The Graph hosted over 600 million requests per day in March, for a total of over 19 billion requests per month. The number of requests placed on the platform has increased more than 100 times. The March figures “speak of the rapid growth of Ethereum and other blockchains that are supported by the service.”
As a reminder, San Francisco-based cryptocurrency startup The Graph announced the launch of the mainnet in December last year, which is to become a “blockchain indexing protocol.”
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