• Graph will start migrating from Ethereum in 2022.
  • Arbitrum offers better scalability, lower transaction costs, and higher network speeds.
  • After the start of The Graph’s final migration phase, GRT and ARB prices increased slightly.

Graph, a decentralized protocol for indexing and querying blockchain data, has begun the final migration of its payment layer from Ethereum to its layer 2 scaling solution Arbitrum.

The transition from the Ethereum blockchain will begin in 2022, launching as CoinJournal. report In February, the price of GRT increased after the first migration started and the protocol moved network rewards to L2. At the current stage, the goal is to complete the process to full relocation.

The community voted to move to Arbitrum

In the announcement, The Graph team reiterated that the move from Ethereum to Arbitrum is aimed at reducing gas costs, increasing transaction speeds, and improving overall accessibility for users. This transition was approved by his GRT holders, whose votes confirmed the community goals of improving user experience and reducing usage costs.

Edge & Node CEO Tegan Kline said in a statement that gas efficiency, among other network features, is a primary goal for The Graph users. Arbitrum’s selection was made after a “careful evaluation,” he added.

Graph’s native token, GRT, traded 2.3% higher on Wednesday afternoon, seeing a slight gain after the news. This also comes as Bitcoin and altcoins struggle to maintain the marginal positivity left after last week’s declines amid the US Securities and Exchange Commission’s (SEC) regulatory crackdown on Binance and Coinbase. But also.

Arbitrum’s native token, ARB, has traded as high as $1.01, up 1.5% over the past 24 hours.

By Jules

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