How Is GRT Positioned to Reach $0.70 in H1 2024? Unraveling The Graph's Strategy.

January 3, 2024 at 11:02 AM GST updated: January 7, 2024 at 09:08 PM 2 mins read News

The Graph (GRT) is prioritizing security and scalability with a focus on Firehouse, hosted service sunset, sub-streams, and Arbitrum One.
Firehouse, a new indexing service, aims to enhance scalability, while the hosted service sunset reduces costs.
Sub-streams improve performance, and the move to L2 with Arbitrum One lowers gas costs, enhancing scalability.

The Graph network is setting its sights on a year of significant development and progress. With a laser focus on security and scalability, GRT enthusiasts have much to look forward to.

Read CRYPTONEWSLAND on

google news

Four key areas of development take center stage in The Graph’s 2024 roadmap: Firehouse, hosted service sunset, sub-streams, and a strategic move to Layer 2 (L2) with Arbitrum One.

Firehouse: This exciting addition is set to revolutionize indexing services within The Graph. Designed to be more scalable and performant than the current service, Firehouse aims to enhance the network’s indexing capabilities, paving the way for faster and more efficient transactions.

Hosted Service Sunset: This decision signifies a strategic shift. Through this, Graph can allocate more resources and attention to developing the core protocol. This move is expected to reduce costs and further strengthen the network’s foundation.

Sub-streams: Users can look forward to improved performance and scalability with the introduction of sub-streams. This feature allows data partitioning into smaller, more manageable chunks, ensuring smoother operations and greater efficiency.

Layer 2 with Arbitrum One: One of the most eagerly anticipated moves in 2024 involves migrating the protocol to Layer 2 using Arbitrum One. This transition is poised to significantly reduce gas costs and enhance overall scalability, making The Graph even more accessible and attractive to users.

In tandem with these developments, GRT’s price exhibited impressive growth in 2023, surging by a remarkable 241%. As the price chart hints at a consolidation range, the crypto community is abuzz with speculation about a potential bullish breakout. If all goes according to plan, GRT could reach $0.70 in the first half of 2024, setting a positive tone for the remainder of the year.

The Graph’s 2024 roadmap showcases a commitment to security, scalability, and a vibrant future for GRT. With ambitious goals and a thriving ecosystem, The Graph network is poised to make waves in the crypto industry in the coming year.