Today, The Graph officially introduced Geo Genesis – an innovative app designed to revolutionize the method of organizing knowledge within the Web3 sphere.
Yet, the value of its GRT token is falling once more following the dismissal of several optimistic indicators, and it appears that a complete restoration remains elusive for now. This update originates from an exclusive press release provided to BeInCrypto.
A New Web Application from The Graph
The Graph, an AI-powered data indexing company for the Web3 environment, believes that Geo Genesis will significantly promote democracy and decentralization within the expanding tech industry. Following the release of its GRC-20 standard in late November, the organization is now ready to take on larger, more ambitious projects.
With Geo Genesis, users at any skill level can directly engage with a huge amount of Web3 data.
The essence of Web3 lies in the management of information, and the introduction of Geo Genesis signifies the creation of a decentralized system where knowledge is structured into flexible, interrelated knowledge networks. This method encourages effortless data exchange and promotes collaborative innovation across various technological environments,” the press release explains.
Over the past few years, The Graph has been striving towards becoming a blockchain equivalent of Google, by excelling in advanced Web3 data indexing. Following the introduction of its GRT token in 2023, this digital asset quickly rose among the ranks as one of the top performers within the cryptocurrency market.
However, steady price declines have plagued its native asset in recent months.
During most of 2024, the progress of GRT seemed to lead to a decrease rather than an increase. The cryptocurrency bull market in November provided some relief, yet bearish signs have resurfaced in recent weeks.
On the other hand, introducing Geo Genesis could potentially rekindle our progress. According to them, this innovative protocol is set to debut with a preliminary access phase, enabling editors and participants to address any lingering issues before its official launch.
From that point onwards, the company will give more authority, empowering users to tailor their own governance structures within their specific areas.
It remains uncertain whether a successful launch will significantly improve the company’s financial situation, as past performance with The Graph (GRT) has not sustained its initial price surges.
The creators have constructed graphs for over 80 decentralized applications (dApps) across more than 80 different blockchain networks, yet the route to financial success is still uncertain.
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2025-01-10 00:40