Vancouver, BC, January 3, 2024, Chainwire
Covalent, the leading Web3 data indexer and provider, stands as the beacon for developers and analysts seeking unparalleled visibility into billions of data points across 210+ blockchains.
Trusted by thousands of developers and impacting over 1,000+ apps, its growth reflects Covalent’s robust foundation – the Covalent Database.
The Foundation: Covalent’s database
At the heart of Covalent’s success lies the Covalent database, a constantly updated replica of all on-chain data. This foundational power empowers developers and analysts to leverage the vast and structured Web3 data landscape. By offering a canonical schema and normalized data against it, Covalent offers a unique advantage for downstream applications, ensuring they are best in class.
Unified API: Accuracy, Versatility, Simplicity
The Unified API stands as the centerpiece of Covalent’s product line, providing a comprehensive solution trusted by industry leaders such as 0x, Zerion and Rainbow Wallet. Categorized into Class A, B and C, it covers a broad spectrum, from providing token balances and transactions, to specific token information. Class C, in particular, introduces a marketplace for custom APIs, catering to the diverse demands of protocols such as Aave, Compound, and Yearn.
The importance of the Unified API lies not only in its comprehensive coverage, but in its user-friendly design and security. With a tamper-proof design and cryptographic evidence, it ensures the integrity and reliability of data access.
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Increment: Transformative Business Intelligence
Increment, Covalent’s dedicated business intelligence tool, empowers analysts to dig into blockchain data, gain insights and visualizations for strategic decision-making. As the Web3 landscape evolves, Increment ensures that analysts have the tools needed to navigate the complexity of blockchain data.
The significance of Increment lies in its ability to bridge the gap between complex blockchain data and actionable insights with clear visualization. This empowers analysts to unlock the value hidden in the data, facilitating a deeper understanding of the market trends, user behavior and overall dynamics of the blockchain space.
GoldRush: A New Frontier in Block Exploration
GoldRush is changing the game in the field of block explorers. This open source modular block explorer kit overcomes the limitations of traditional platforms and offers a dynamic and customizable experience. It empowers users to customize their data views and interactions, to address specific needs that one-size-fits-all platforms struggle to accommodate.
The importance of GoldRush lies in its role as a toolset, not just a competitor to existing block explorers. By making blockchain exploration accessible to everyone, it paves the way for the creation of custom block explorers. GoldRush democratizes the exploration of blockchain data, allowing users to define their journey and interact with the data on their terms.
The covalent network: decentralized data for long-term availability
As a versatile platform, the Covalent Network captures and indexes blockchain data, and distributes it across multiple points on the network for instant access through queries to the unified Covalent API. It addresses the issue of long-term availability by offering a decentralized, cryptographically secure data availability network.
The Covalent Network prioritizes at its core data verifiability, achieved through cryptographic evidence. Every piece of work on the network generates evidence, which ensures that network operators act honestly and provide accurate data. As one of the first data middleware protocols to use an evidence-based system for data verifiability, the Covalent Network is playing a pioneering role in rebuilding the foundations of the web.
CQT: The backbone of the covalent network
As the Ethereum Wayback Machine (EWM), the Covalent Network relies on $CQT, an ERC20 token on Ethereum, which serves as the Staking and Governance token for the Covalent Network. The token facilitates API queries, drives its functional use and creates organic demand. Meanwhile, the staking mechanism ensures data integrity with network operators and participants, encourages responsible behavior and ensures verifiable data on the network.
Most importantly, the Covalent Network introduces a unique and essential incentive structure to attract skilled data providers, securing its role as the EWM. Network operators, who export raw blockchain data, can serve on their platform or for internal analysis, and earn $CQT by fulfilling Covalent Network duties. This structure promotes data integrity, supports robust data sharing practices, and ensures a reliable repository of historical blockchain data.
Covalent: Democratizing Web3 through innovation and technology
Covalent’s journey is not just about data. It’s about democratizing access, fostering innovation and shaping the narrative of Web3. Each product in the Covalent suite plays a pivotal role in this story, providing solutions that empower users, developers and analysts to navigate and thrive in the evolving landscape of blockchain technology.
About Covalent
Covalent ($CQT) is the leading web3 data provider, indexing 210+ blockchains and serving over 1,000 application-side partners, ranging from the largest crypto-native DeFi and NFT protocols to enterprises such as EY, Fidelity, Jump and Consensys.
The Covalent Network secures the largest and richest structured web3 dataset in the world: 59 TB and 88 billion transactions since the inception of these 210+ blockchains.
For more information, users can visit Covalent’s: Official Website | Twitter | Disagreement | Telegram
Contact
Dahlia [email protected]
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