Covalent Network Launch
Covalent announced the launch of #Covalent Network – the decentralized data infrastructure layer of Web 3.0.
The Covalent API is backed by terabytes of data, and regardless of industry best practices, is a candidate for a single point of failure. This launch moves the platform beyond a centralized blockchain data API, enabling token holders and developers to engage with the network in new ways. All while eradicating the limitations of centralization. As Covalent makes this transition toward decentralization, there will be absolutely no disruption to our existing customers or their workflows.
In addition to that, they are also geared up for first governance meeting that is happening on Monday, May 3rd at 2 pm PT/5 pm ET. The introductory call will cover the basics of the governance structure, how different proposals can be added, a summary of what has happened in the month of April, and what we are looking forward to in May.
What is Covalent?
Covalent leverages big-data technologies to create meaning from hundreds of billions of data points, delivering actionable insights to investors and allowing developers to allocate resources to higher-utility goals within their organization. Instead of pain-stakingly sourcing data from a small handful of chains, Covalent aggregates information from across dozens of sources including nodes, chains and data feeds. The Covalent API then sources end users with individualized data by wallet, including current and historical investment performance across all types of digital assets. Most importantly, Covalent returns this data in a rapid and consistent manner, incorporating all relevant data within one API interface.
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