Although it seems like cutting-edge technology, blockchain has been with us now for over 20 years. It's the foundation upon which the whole crypto industry rests. At last tally, that means blockchain accounts for over $2.48 trillion in assets around the world.
But despite its wide use, the mechanics of blockchain remain something of an enigma to most people. The developers who work with it are still a rare breed, representing a small fraction of software developers worldwide because it’s not easy coding to learn. A big reason for that is blockchain lacks many of the tools and infrastructure that developers take for granted, so most don't even bother to get started with it.
It’s that exact problem that GraphLinq means to address. It’s a new blockchain development platform that offers developers an easy-to-use IDE interface to build blockchain-dependent apps. Pre-loaded with dozens of built-in data actions, developers can use its drag-and-drop functions to create workflows of almost any type.
This kind of approach has already revolutionized other software development markets, making it possible for just about anyone to create a website, blog or basic application in just minutes. When applied to blockchain development, the possibilities become endless. Using the GraphLinq IDE, anyone with basic software coding experience can develop new blockchain-based products, from launching a cryptocurrency from scratch to building complex blockchain data automation workflows.
Low-cost, no-code blockchain development
The GraphLinq platform helps to minimize costs by providing off-chain data storage for developers to use when appropriate. This allows for the building of graphs and other workflows that only incur gas fees when necessary. The system also relies on a layer 2 transaction solution running on the Polygon chain to further minimize costs. At a time when gas fees represent a significant and shifting overhead for any blockchain project, that could be a game-changer.
Running automation and projects on the GraphLinq platform is enabled by its native token, GLQ, an ERC-20 Ethereum token that users can spend to test their creations on the GraphLinq testnet or to deploy into production on its mainnet. In this way the GraphLinq platform operates much like a conventional cloud provider, with a pay-for-what-you-use billing approach that makes costs predictable. With the GLQ token, developers can run their graphs executed over the GraphLinq engine network and pay the fees for executions.
Every GLQ token that is used as gas fees to pay for graphs will be burned. This limits the token supply and helps with market adoption. GraphLinq will also use the token as DAO governance, which will allow the community to participate in choosing the future of GraphLinq, including which developments to focus on next.
That also makes GraphLinq an invaluable resource even for experienced blockchain developers. Mature crypto projects can use it to automate some or all of their data operations while lowering their overhead at the same time. GraphLinq users then could gain a major competitive advantage by reducing upfront and ongoing costs and streamlining development timelines.
The bottom line is simple: GraphLinq represents a new approach to blockchain development. It seeks to democratize the process and make it accessible to any individual or business that wants to use it. That’s a major prerequisite to wide-scale adoption of any technology, and it's something that's been missing for the 20-plus years of blockchain's existence.
While the GraphLinq platform is still under development, it’s already far enough along to show its value. As it evolves and adds features, its significance should become even more apparent.
GraphLinq’s founders began with a simple vision: give people the tools they need to unleash their creativity with blockchain solutions, by bringing them in line with other major software development platforms. They're excited to see how people will use what they've built – and the crypto world at large should be, too.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.