Covalent, a blockchain data provider has launched its decentralised data query network to power web 3.0 infrastructure. This launch moves the platform beyond a centralised blockchain data API, enabling token holders and developers to engage with the network in new ways.
Unlike other data networks, users of the Covalent API, whether token holders or not, will have the ability to query data across ethereum, polygon, binance smart chain, fantom, elrond, and avalanche, gaining insights into their ecosystem.
“Covalent is now a part of the critical infrastructure piece that many projects in the space rely on. We take this responsibility seriously and the only undefeatable architecture is a decentralised one. Our previous centralised solution has been reimagined as a decentralised network with improvements for our existing customers and their workflows,” said Ganesh Swami, CEO and Co-founder, Covalent.
The Covalent API holds terabytes of data, and regardless of industry practices, is a candidate for a single point of failure. The decentralised network launch addresses this challenge and will help scale with the onboarding of applications using the API.