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INTRODUCING COVALENT

During 2020, the decentralized finance market has grown exponentially. Over $12 billion have been locked into the DeFi market, with more being added on a daily basis. Companies worldwide have expressed interest in deploying blockchain-based solutions within their day-to-day operations.

Unfortunately, the sheer size and technical complexity of the market makes it difficult to analyse blockchain-related data. In response, Covalent has built a unified API meant to enhance the transparency and visibility of blockchain networks. Adoption bottlenecks are therefore removed, and smooth transitions are assured.

This article will take readers through Covalent’s market purpose, unique capabilities, user expectations, and recent developments. …


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Crypto is getting crowded and Ethereum-only data analytics is not enough.

Dune Analytics, an amazing Ethereum data analytics software is helping the work of journalists, fund managers, crypto enthusiasts, and Ethereum developers. However, it’s limited only to Ethereum data, but it doesn’t have to be.

The blockchain industry has been growing rapidly and moving beyond Bitcoin and Ethereum in a spectacular way. With the release of the Polkadot platform, another Ethereum competitor is born, but this platform is not the only one. Algorand, EOS, NEO, Stratis, Lisk, ARK, Qtum, and Cardano all offer similar smart contract capabilities as Ethereum.

They are all competitors with one another, however the technology is still nascent, even after ten years in the making since Bitcoin’s initial release. Experts believe that DeFi will continue to grow and we’ve seen what happens when Ethereum gets congested. …


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The blockchain landscape is currently limited with data accessibility being a major impediment for its widespread adoption. Existing solutions allow interested enterprises partial access to data for only a few decentralised networks. This makes it difficult for such enterprises to draw meaningful and actionable insights from the existing blockchains. This has subsequently made it hard for organisations to integrate the technology in their operations thus inhibiting its mass adoption and the development of fresh blockchain-based solutions.

The blockchain data problem

Blockchain is a relatively new technology that is yet to be explored completely. With its development still in its infancy, developers and organisation are exposed to multiple challenges in the adoption and implementation of blockchain tech. …


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The role of API

Application Programming Interface (API) is a software intermediary designed to simplify the interactions with applications. APIs help applications talk to each other by retrieving and interpreting data according to the user’s demands. As such, they save users time and eliminate need for technical know-how while interacting with software and complex programs by providing feedback in a readable way. Consequently, APIs have become ubiquitous in the modern technological world as they facilitate loads of our interactions with different websites, mobile apps and computer programs. …


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Ganesh Swami is the founder of Covalent, a blockchain data platform, providing a unified API to bring full transparency and visibility to assets across all blockchain networks. Ganesh shares more insights on Ethereum data with us in this interview.

Could you introduce yourself and perhaps share more details as to why you started Covalent?

Hey guys, my name is Ganesh Swami, and I’m a serial entrepreneur and a physicist by training. I’ve spent the bulk of my career in the data space from industries ranging from pharmaceuticals to cloud computing to now blockchain technology. In 2017, Levi and I found this opportunity to build Covalent to tackle the challenges of dealing with messy blockchain data.

There are so many different protocols, chains, projects, and products, each producing data in various formats, rarely following any standard, causing unnecessary complexities that prevent the industry’s growth. …


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Technical complexity limits the adoption of blockchain technology, and this is a significant barrier for smaller business organisations. Enterprises with substantial resources still find it hard to justify integrating blockchain technology in their business processes. At the moment, the rapid deployment of blockchain systems is time-consuming and expensive.

But it doesn’t have to be.

Covalent, a blockchain company that promises to remove barriers for blockchain adoption, recently entered the limelight with a $3.1 million investment. Covalent is a Vancouver-based blockchain data analytics startup that promises to improve the transparency and visibility of blockchain assets across multiple networks.

As the blockchain community continues to push for the widespread adoption of blockchain technology, there is a need to work on reducing bottlenecks and enabling smooth transitions for businesses, regardless of their financial power. …


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A growing number of organisations across multiple industries have expressed interest in adopting blockchain technology in their operations. This increasing desire is driven by the will to leverage the benefits of this technology that have been increasingly publicised. Blockchains can help organisations improve efficiency, streamline operations, enhance speed, and cut costs among other benefits.

The concerted efforts to raise awareness about the importance of blockchain technology and mounting interest from organisations have, however, failed to materialise into widespread adoption. Businesses are finding the adoption and integration of decentralised technology in operations to be rather difficult. …

About

Chadley McKnight

Into Cryptocurrency, Blockchain, Publications and relations, and also a journalist

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