The Graph Introduces GRC-20 Standard for Web3 Data Structure

The Graph, a decentralized indexing protocol often described as the "Google for blockchains," has unveiled a new data standard designed to enhance the Web3 experience. Named GRC-20, this standard aims to define how data is structured, shared, and connected across decentralized applications (dApps), according to a blog post on The Graph's website. The announcement follows developer Yaniv Tal's Graph Improvement Proposal (GIP), which outlines this new approach to data handling.

A New Approach to Knowledge Representation

The introduction of GRC-20 builds on the concept of knowledge graphs, a framework Tal first proposed in June. Knowledge graphs capture the relationships between different pieces of information, transforming raw data into more meaningful, interconnected insights. As the blog explains, “Knowledge is created when information is linked and labeled to attain a higher level of understanding,” and the GRC-20 standard is designed to facilitate this process within Web3 environments.

GRC-20 will replace the Resource Description Framework (RDF), the current data structure standard for the World Wide Web Consortium (W3C). RDF is not well-suited for Web3 due to several technical limitations, and GRC-20 aims to overcome these challenges. The blog states, “GRC-20 creates a common language for knowledge, so we can fully realize the vision of an open, verifiable, and composable Web3.”

Core Concepts of GRC-20

The GRC-20 standard is based on three core concepts:

• 1. Spaces for grouping related information,
• 2. Entities and Relations for representing individual data points and their connections, and
• 3. Types for adding structure to the information.

Developers will define the Entities, Relations, and Types within the system. In the coming weeks, The Graph plans to release tools that will help developers implement the GRC-20 standard. Tal's Graph Improvement Proposal is currently open for community feedback before it is finalized.

Improving Information Discovery for Developers

The Graph, launched in 2018 and with its mainnet going live in December 2020, serves as a global network of decentralized APIs, known as subgraphs, that underpin dApps (decentralized applications) and smart contracts. Tegan Kline, a developer at The Graph, previously explained to Cointelegraph that The Graph functions as “an open data layer on top of the blockchain,” simplifying the process of monitoring and using smart contracts.

The platform claims that its decentralized structure can significantly speed up dApp development, reducing the time required from months to just days. Contributors to The Graph network are rewarded with Graph tokens (GRT). With over 70 blockchains currently indexed, The Graph continues to play a crucial role in the Web3 ecosystem.

Additionally, as The Graph transitions to a fully decentralized model, Chainstack has launched a hosted service for subgraphs, taking over the hosting duties that The Graph previously managed before decentralizing this function.

In sum, GRC-20 marks a significant step forward in making Web3 data more accessible, structured, and interconnected, helping developers more effectively navigate the decentralized landscape.