The Graph Foundation has released a $48 million funding grant to The Guild. The Guild is an open-source API platform, and this funding will give the platform a chance to increase the performance and the usability of the network’s subgraphs.
The Graph is an index and query layer developed for the decentralized Web3 concept. Through this network, developers can create and publish open APIs known as subgraphs where applications can lodge queries through GraphQL. The Graph supports indexing data from 22 leading blockchains, including Ethereum, Avalanche, Celo, Fantom and more.
The Graph releases a $48M funding grant to The Guild
The Graph Foundation has announced raising a $48 million funding grant directed towards The Guild. The Guild will now be a core network developer, and it will offer its extensive experience towards the growth of the ecosystem.
Some of the benefits that will come through this partnership include time management and a contribution to the growth of the available features on GraphQL. GraphQL is a programming language first developed by Meta, formerly known as Facebook. The programming language was launched in 2012, and its focus is to boost the features on subgraphs. These features include the “composition, analytics and mutations” on The Graph network.
The Graph Network has shared the benefits of having The Guild as a core developer will help the growth of projects in the competitive Web 3.0 sector. Some sectors that could see notable growth include decentralized finance (DeFi), the metaverse, and decentralized autonomous organizations (DAOs).
The Director of The Graph Foundation, Eva Beylin, commented on this development saying that The Graph and The Guild will work together for four years. The two parties will collaborate to create new subgraph features and boost the querying capabilities of The Graph Node. This will allow developers to use The Graph to create feature-rich applications.
“Once we were exposed to the core work and mission of The Graph, we realized how powerful and impressive The Graph community is. The Graph’s mission, execution, core teams and community deeply inspired us, and we wanted to provide our knowledge, expertise and execution abilities in the AP and developer infrastructure field to help bring The Graph’s vision to reality,” said Uri Goldshtein, the co-founder of The Guild.
The Graph issues another $60M to Semiotic AI
The Graph has awarded $248 million to the core development of the network during the past year. The recent development was a $60 million grant issued to Semiotic AI, an infrastructure service provider. The grant was to boost research and development into artificial intelligence and cryptography.
The partnership was announced in December last year. It will develop the architecture needed to automate and verify indexing and querying on The Graph. Moreover, it will also provide the functionality to micropayments by utilizing zero-knowledge proofs dubbed ZK-SNARKs.
Throughout last year, Semiotic AI collaborated with The Graph to support the ecosystem’s growth. This was achieved through a series of initiatives, including developing a beta-query prediction service. These initiatives also support the design of zero-proof infrastructure, and it received another grant towards the beginning of last year.
At the time, the co-founder of The Graph, Brandon Ramirez, talked about Semiotic AI saying, “They specialize in the same AI toolkit Google Deepmind used to beat the world’s best Go player and to then solve the age-old protein folding problem. The Graph is all about data, and just as AI plays a central role in all web2 products, this partnership will contribute to the convergence of AI and the decentralized internet.”
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