In the era of blockchain technology and decentralized computing, there is an increasing demand for services that can provide definitive, real-time information. This can be the answers to such questions as the going rate of cryptocurrency exchanges and the auction price of NFT artworks.
Decentralized application (dApp) users are forever eager to access this data. However, inherently blockchain technology makes this a challenging prospect because it does not exist in a traditionally easy-access, static storage location. Often, the means of satisfying these questions involves cost-prohibitive cloud server setups and high skill requirements on the part of the user/developer.
HyperGraph (HGT) is poised to produce technical solutions for such demands. HyperGraph is a decentralized web3 data service platform that provides data queries and indexing services to dApp developers and operators.
At the risk of oversimplification, a common example is the search engine technology that may have brought you to this article like Google.
Many understand the premise of how Google searches and captures the general internet by looking at web addresses, URL links, keywords, and the like. This information is intermittently gathered, updated, and made available to users through an on-demand query—a search bar that generates pages of results. While sometimes only satisfying general curiosities, these results can lead to actionable knowledge: where to purchase a car battery, the recipe for a meal, and a doctor’s office hours.
HyperGraph plays a similar role within an entire blockchain network as Google does within the internet, allowing queries of blockchain business data by analyzing block indexes. The leap from typical websites to the almost incomprehensible complexities of blockchain data is where HyperGraph does the heavy lifting. Likewise, the shift from the occasional first gear of a search engine to the constant warp speed necessary for processing blockchain is where HyperGraph shines.
HyperGraph deploys solutions via three convenient approaches: code packages, GitHub links, and APIs. Optimization can be achieved within a single day and the relevant data query results are displayed in real-time. Currently, the MDex exchange using HyperGraph technology solutions delivers trade information with no delay. In contrast, other exchanges such as the Pancake exchange can suffer from delays of up to several hours or even several days.
The further-reaching vision of HyperGraph is to build a high-performance blockchain data network that supports server-less applications. Applications that are no longer dependent on a single server or database will realize the goal of entirely decentralized operation. These dApps will instead run on a network maintained by various incentive mechanisms. Participants in the community can play and support multiple positions in HyperGraph to participate in its construction. They can earn corresponding revenue or contribute through their contributions such as nodes, miners, dApp developers, and data users.
After the launch of an initial mining event, many developers are turning their attention to HGT, hoping to learn about it in advance and ready themselves to build indexing nodes (more on that below) and operate data services. HyperGraph has received very favorable feedback from cooperating developers involved in the early use of the service.
According to the current development progress and expectations, the public data network will launch in May.
A “node mortgage” will be initiated during this launch wherein different developers/users can begin joining in earnest. In simpler terms, nodes are powerful decentralized computing hubs capable of running the network. Effectively this process allows hosts to stake their claim in carrying the necessary, massive computing burden. Even if you are not a tech pro or serious hardware owner but want to share in the revenue, you can mortgage your HGT interests to the node that you think is reliable and share in the profit by those means. Those blockchain geeks capable of diving into the technical aspects, who want to build nodes, will undoubtedly be stocking up coins early. For reference, the revenue of the node with the highest earnings in the GRT project on Ethereum recently reached USD 20M.
Speculators are bullish because, in comparison, HyperGraph has potential advantages in serving high-performance public blockchains, which is of great value. If the enterprise continues on this path, with the end game of an effectively circulating project ecology and practical usage, the profits will be considerable.
Author | Emily Forbes
An Entrepreneur, Mother & A passionate tech writer in the technology industry!