Covalent: The data powering the DeFi economy

Covalent: The data powering the DeFi economy

By OleZba | Crypto Gems | 10 Nov 2020

Our vision is to empower the pioneers of tomorrow by providing the richest and most robust data infrastructure for the entire blockchain ecosystem

Covalent Research was announced in 2018. Covalent provides a unified API to bring full transparency and visibility to assets across all blockchain networks. Covalent has the answers to a million questions about dApps' utility. Covalent provide the absolute richest blockchain data on DeFi. More and more use-cases being supported everyday.

“It is the first of its kind to provide independent, unbiased industry research on various blockchain projects and crypto-tokens. Our agenda is to use data to tell you what you need to pay attention to and what you can ignore”. – Ganesh Swami, Co-founder, CEO.

Over 40 projects building and succeeding with Covalent, among them: ZeroSwap, Frontier, Reef, CryptoSheets, Shyft Network, Consensys, Matic, Skale, Loopring, Authereum, UpBots, Polkastarter. Among their bakers are: Woodstock, Mechanism Capital, 1kx, AU21 Capital, TRG Capital, Brilliance Ventures, CoinGecko, Alameda Research.

Finance continues to be a dominant use-case of blockchains. The idea is to change the world of finance in a similar fashion to how open source has changed the world of software

Despite all the progress has been made in crypto tooling the last couple of years, one difficult task remains unsolved: extracting data from blockchains. Blockchain data is messy, disorganized and time-consuming even for an experienced engineer. A few month ago Covalent announced a self-serve software development kit (SDK) that allows developers to build new APIs for all yet to be discovered use-cases.

Covalent’s secret power is that it has indexed all of the data on the blockchain: every block, every transaction, every log event, and every state update. They’ve worked over the last couple of years to scale this multi-billion row data store spanning terabytes updated with a latency of 30s (~2 blocks.).

In 2019 they’ve written a deep-dive on UniSwap. Also they build - an independent source for visually exploring the emerging “decentralized finance” use-case on the Ethereum blockchain.

Now Covalent's teem are preparing SafeKeep - the only DeFi portfolio tracker that displays all of your DeFi assets in one place. This includes Uniswap trading pairs, TokenSet trading sets, Balancer pools and more. SafeKeep allows a full display of all of your ERC20 tokens. Because SafeKeep uses Covalent’s powerful on-chain data infrastructure, any new trading pairs will automatically be reflected in your SafeKeep account.

For more information stay tuned Covalent's Official website, Telegram, Medium, Twitter

By the way,Covalent is inviting you on an adventure to earn $25,000 in rewards!


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