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The Google Of BlockChain (Sleeper Blue Chip Crypto for Web 3.0) - YouTube
Channel: BitBoy Crypto
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web3 is coming in fact it's already here
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if you're watching this video
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it means you're already way ahead of the
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curve but what does it actually mean
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well think of it like this web one was
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all about consuming static web pages
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sending emails and asking genes the best
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way to cook the lasagna then web 2 came
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along changed the game forever because
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it didn't just allow us to interact with
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the internet shifted a lot of what we
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did in real life into a whole new age of
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online activity and with that came a
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by-product data
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our data that data put power into the
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hands of a few major players i'm talking
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amazon google facebook a cabal of super
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powerful centralized entities became our
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evil overlords the shepherds of
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everything we do online which pretty
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much made us the sheep and our data
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became the golden fleece to be sold off
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to the highest bidder but here's good
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news the sheep are waking up we're just
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getting started let's get it
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welcome to bitboy crypto home of the bit
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squad the largest and greatest crypto
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community in all the interwebs my name
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is ben every day on this channel i show
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you how to make money in crypto if you
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like money and crypto be sure to hit
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that subscribe button in this video we
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take a look at the graph of blockchain
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technology for web3 blockchain will be
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the foundation on which web3 is built
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but when it comes to creating
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decentralized applications aggregating
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the data needed to make them work is a
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serious headache why
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well first because obtaining data on the
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blockchain is a nightmare i mean
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that's basically what a blockchain is an
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endless stream of immutable data so
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going through it to find the relevant
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chunks of information
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takes a huge amount of time and
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processing power with the current web
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2.0 infrastructure that means building
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an indexer running a server and indexing
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the data in-house
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it's labor-intensive energy-intensive
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and crucially
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highly centralized with a single point
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of failure and a constant security risk
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but when you're building applications
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querying data is the name of the game
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so the questions of how to streamline it
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for blockchain are huge
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how do we move away from centralized
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databases and indexing services how do
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we collect data in a decentralized way
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because accessing data on the blockchain
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is easy
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accessing relevant data not so much
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bit like going to walmart where
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everything is randomly organized sure
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you'd eventually find the frozen tamales
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can't stop thinking about but it would
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take a lot of time and
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determination a way to query data
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efficiently on the blockchain was always
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going to be a big deal and lucky for us
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the answer came in 2018 by way of three
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software engineers yaniv tull giannis
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pullman and brandon ramirez now these
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guys aren't just nerds they're super
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nerds because they solved one of the
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most pressing issues facing developers
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in web 3. you've probably heard of it
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it's called the graph
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sometimes called the google blockchains
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but unlike google this isn't an evil
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superpower hellbent on world domination
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it's a decentralized indexing protocol
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that offers a seamless hyper-efficient
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way to organize and query blockchain
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data the first thing to understand is
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that the graph isn't a blockchain
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instead it's an indexing layer that sits
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on top of a blockchain allowing for
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transparent decentralized apis or
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application programming interfaces in
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simple terms the graph gathers and
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analyzes data before storing it into sub
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graphs which dapps can search through to
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instantly receive the right information
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this could be anything from which
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exchanges have the most liquidity which
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governance proposals have the most rep
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to who is the most handsome and smallest
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guy in all of crypto
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just kidding kind of that's something
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you already know
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but what are subgraphs and how do they
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work well they're basically
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decentralized data sets that means dapps
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don't need to run their own indexer they
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can just query the relevant subgraph to
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get what they need for the front end
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this means cutting through the noise of
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different block chains ipfs oracle side
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chains layer twos you name it the graph
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slices through them all like a hot knife
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through butter and easily gathers the
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required data which is why it's found
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traction with pretty much all of the
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major device protocols with billions of
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monthly queries for things like token
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price historical trading volume and
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liquidity all taking place behind the
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scenes
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i mean if you want to see a textbook
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case of exponential growth just check
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out this chart
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that's an old chart 2. in the past 18
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months they've had over 135 billion on
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the hosted service
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5 billion coming since may this year
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which tells us two things
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the blockchain use is growing
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exponentially and that the grass
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technology is playing a defining role as
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of last week over 22 thousand unique
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subgraphs have been deployed to their
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hosted and decentralized networks with
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names like ave and union audience
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relying on protocol speaking of which a
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decentralized indexing layer should be
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decentralized itself since the mainnet
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launch they've been running the legacy
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explorer but they've recently deployed
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the sub graph studio a launch pad to the
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decentralized network where users can
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test create and publish subgraphs for
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public use
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and they've already seen some major
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subgraphs migrating to the protocol like
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sushi pickle synthetics and radical to
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name but a few
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here's a quick rundown of the graph's
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basic infrastructure it's effectively a
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free market model incentivizing the grt
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token
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first you have the indexers they run the
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nodes that process the queries and
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you've got to be a nerd to be an indexer
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because it requires some technical
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know-how
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indexers can then state grt is
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collateral against their activity
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compete for subgraphs and are inquiry
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fees as well as inflation rewards
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then you've got the curators and you
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don't need to be living in mom's
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basement to do this one almost anyone
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can apply
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curators pick out good looking sub graph
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and stake their grt to create signal the
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higher the signal the greater the chance
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the sub graph will be picked up by the
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indexers by the same token curators are
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incentivized with rewards coming from
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query and indexing fees
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last but not least are the delegators
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which is pretty self-explanatory
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they state grt to support indexers help
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keep the network secure
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now i know you're not just here for the
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tech so you probably want to know about
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grt's price potential and here's the
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thing despite having a working product
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with a crystal clear use case widespread
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adoption and no real competition
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snapping at their heels
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grt is unlikely to do a 100x anytime
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soon i i know i know
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it's hard to believe but it comes down
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to tokenomics as far as i can tell is
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the only area where the graph has come
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under fire
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the reasons pretty self-evident
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for starters the team and early backers
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have the lion's share in almost 60
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percent of the original 10 billion
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backers who include the likes compound
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coinbase ventures not to mention
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our old frenemies of the dcg
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combine that with an inflationary model
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of three percent a year to cover
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indexing rewards a vesting and
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distribution schedule playing out over a
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decade a burn rate of only one percent
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and as many as eight hundred thousand
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tokens playing the market a day
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well grt could come under some major
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cell pressure as time goes on
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but i don't want to take away from the
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magnitude of the project i'm not saying
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it won't reward investors with
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impressive gains and returns it's just
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likely to happen over time and yet as
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dvi and web 3 grow exponentially graph
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could see its adoption and market cap
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reach levels we can't even compute today
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i mean it could literally play a role in
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the lives of billions of people all over
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the globe
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project might have started out on
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ethereum back in 2018 but their vision
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is to be part of a multi-chain future
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and they've been steadily expanding
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support for all major layer ones
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think about it creating a global api by
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aggregating the world's data in an open
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source way it's a big big deal and if
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we're going to call it the google of
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blockchains
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then maybe it's best to think of grt is
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what google stocks were in the 90s they
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might not have flipped crazy gains
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overnight
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but if you'd had the conviction to buy
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back then well
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you'd be laughing today as you cruise
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past the bank in a lambo
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as a price prediction for this cycle
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it's around a 3x from its all-time high
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of 2.77 back in february went into a
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downtrend straight after having said
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that it's had a decent consolidation
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period since the mini crash in may but
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it seems to move at a different pace
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from the rest of the market
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personally i wouldn't be surprised to
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see it reach somewhere between three and
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four dollars by the end of this bull run
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but when it comes to the graph i'm
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looking way past the next few months
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this is a long-term play with a
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long-term potential and a seriously
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exciting future that's all i got be
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blessed
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[Music]
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you
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