How develop really good AI solutions? By combining in-depth process knowledge with excellent data and state-of-the-art AI applications. That's what sets us apart, - We know our customers' processes and listen to them - We know what data these processes generate and make them available - We are AI nerds who never stop developing inspiring solutions INFORMATION ACCORDING TO § 5 TMG: Valunoo Gesellschaft mit beschränkter Haftung Liebherrstraße 5 80538 Munich Germany Managing directors: Ulrich Bombka, Sebastian Grehn, Christian Haas E-mail: info@valunoo.com Phone: +49 89 2155 6681-0 Commercial register: District court of Munich, HRB 252827 Registered office: Munich VAT registration number: DE327157911

COVALYZE

Key Insights The percentage of staked CQT grew from 22% in Q1 2023 to 29% in Q1 2024, despite a 20% increase (an additional 104 million CQT) in the circulating supply. The CQT market cap rose 28% QoQ, reaching $275 million multiple times before ending Q1 at $199 million. Covalent announced plans to introduce a revenue-sharing model in the future, implementing a buyback program at the end of January that repurchased 219,000 CQT by the end of Q1. In Q4, Covalent introduced the Ethereum Wayback Machine (EWM), a long-term data availability solution for historical data on Ethereum. Covalent increased its network operator set by decentralizing another network operator role called the Block Results Producer (BRP) and adding more validators to an already decentralized set of operators called the Block Specimen Producer (BSP) in Q3 2023. Key Metrics Performance Analysis Network Covalent has hundreds of enterprise as well as thousands of broader crypto industry API customers using its robust infrastructure to access structured data. These data consumers range from traditional finance and consulting companies to AI, DeFi applications and investment tools. A few notable users include Fidelity, EY, Consensys, Matcha, Rainbow Wallet, and CoinLedger. To arrive at the data these entities consume, the protocol must extract, transform, and enrich the raw blockchain data to make it accessible. Staked CQT Covalent uses a Stake-for-Access model where network operators (BSPs and BRPs) stake CQT to perform work on the network. Covalent employs staking parameters, such as max/min values and a delegation ratio to ensure staked CQT remains distributed among the operator sets. BSPs must stake a minimum of 175,000 CQT and are restricted to 350,000 CQT. Alternatively, BRPs must stake a minimum of 35,000 CQT, are restricted to 70,000 CQT, and do not receive delegation. Covalent has now migrated the staking contract from Moonbeam to Ethereum. The percentage of staked CQT grew from 22% in Q1 2023 to 29% in Q1 2024, despite a 20% increase (an additional 104 million CQT) in the circulating supply. When the BRP role decentralized in mid-August 2023, it enabled a new group of network operators to stake CQT. Nevertheless, the BRP node set accounts for less than 600,000 of the 184 million CQT staked, representing just 0.3%. Given the maximum stake limits and that most BSPs have not reached delegator capacity, contributors to the growth in the percentage of staked CQT can be partially attributed to the 9% YoY increase in active delegators and the addition of two new BSPs in Q3 2023, which increased stake capacity by 19.6 million CQT. Financial Market Cap The CQT market cap rose 28% QoQ, reaching $275 million multiple times before ending Q1 at $199 million. Since Covalent opened the BRP role and added two new operators in mid-August 2023, the CQT price has risen 232%, while the broader market only appreciated 132% in the same time period. Though the BRP role minimally impacted the amount of CQT staked, adding two new BSPs increased stake capacity by 19.6 million CQT. This reduced tradable CQT and applied upward pressure on the asset price. In late January, Covalent implemented a CQT buyback program. Although only 219,000 CQT were bought back by the end of Q1, this program lays the foundation for linking network demand directly to increased buying pressure on CQT. Essentially, as API query demand rises, Covalent's revenue will increase, enabling further buybacks of CQT with the additional revenue. Qualitative Analysis Ethereum Wayback Machine In Q4, Covalent introduced the Ethereum Wayback Machine (EWM). The EWM is a long-term data availability solution for historical data on Ethereum. It was born from Ethereum’s introduction of state expiry in its Dencun upgrade. State expiry addresses Ethereum state bloat from rollups posting transaction data to the network. All the additional data could lead to performance degradation, high storage costs, and increased sync times for nodes in the long term.\ EIP-4844 (a part of Dencun) introduced a blob transaction type that rollups will use to post data more cheaply to Ethereum. Furthermore, blob data is only stored by Ethereum consensus layer nodes (beacon nodes) for roughly 18 days before being deleted. Covalent’s EWM will store blob data indefinitely, providing a persistent and verifiable layer for storing rollup history. In addition to archival purposes, the EWM will help applications from compliance to AI model training. AI Use Cases Covalent's structured data is used by a wide range of consumers, from taxation tools (CoinLedger) to investor dashboards (Consensys) to user wallets (Rainbow). Artificial intelligence (AI) is an emerging data consumer well-suited for Covalent’s data infrastructure products. To attract AI talent to the Covalent product, the team has administered multiple grants to AI projects. The Q1 grantees using Covalent in their AI applications are detailed below. SmartWhales: an onchain copy-trading platform that enables investors to follow DEX traders and automate trades to copy their activity.\


BotFi: a protocol that enables users to automate DeFi tasks, such as copy trading, dollar cost averaging (DCA), limit order scheduling, and more. It also offers an AI token screener, a frontrunning bot, and other tools to enhance the DEX trading experience.


Laika AI: a browser extension that offers onchain analytics, token contract analysis, wallet tracking, AI alerts of onchain activity, and more. Entendre Finance: an AI accounting tool that enables users to aggregate onchain activity from different platforms, automating transaction tracking, analysis, and record-keeping. Closing Summary Covalent has significantly improved its network since Messari’s last report on the protocol in Q4 2022. It has expanded support to over 225 blockchains, decentralized another layer in its supply-side operations, launched the GoldRush developer kit, implemented a CQT buyback program, and announced the Ethereum Wayback Machine. As we move forward into the remainder of 2024 and beyond, Covalent is poised to increase its API usage while continuing to enhance its protocol in the next stage of the market cycle. This story was distributed as a release by Btcwire under HackerNoon’s Brand As An Author Program. Learn more about the program here: https://business.hackernoon.com/brand-as-author Key Insights The percentage of staked CQT grew from 22% in Q1 2023 to 29% in Q1 2024, despite a 20% increase (an additional 104 million CQT) in the circulating supply. The percentage of staked CQT grew from 22% in Q1 2023 to 29% in Q1 2024, despite a 20% increase (an additional 104 million CQT) in the circulating supply. The CQT market cap rose 28% QoQ, reaching $275 million multiple times before ending Q1 at $199 million. The CQT market cap rose 28% QoQ, reaching $275 million multiple times before ending Q1 at $199 million. Covalent announced plans to introduce a revenue-sharing model in the future, implementing a buyback program at the end of January that repurchased 219,000 CQT by the end of Q1. Covalent announced plans to introduce a revenue-sharing model in the future, implementing a buyback program at the end of January that repurchased 219,000 CQT by the end of Q1. In Q4, Covalent introduced the Ethereum Wayback Machine (EWM), a long-term data availability solution for historical data on Ethereum. In Q4, Covalent introduced the Ethereum Wayback Machine (EWM), a long-term data availability solution for historical data on Ethereum. Covalent increased its network operator set by decentralizing another network operator role called the Block Results Producer (BRP) and adding more validators to an already decentralized set of operators called the Block Specimen Producer (BSP) in Q3 2023. Covalent increased its network operator set by decentralizing another network operator role called the Block Results Producer (BRP) and adding more validators to an already decentralized set of operators called the Block Specimen Producer (BSP) in Q3 2023. Key Metrics Performance Analysis Network Covalent has hundreds of enterprise as well as thousands of broader crypto industry API customers using its robust infrastructure to access structured data. These data consumers range from traditional finance and consulting companies to AI, DeFi applications and investment tools. A few notable users include Fidelity, EY, Consensys, Matcha, Rainbow Wallet, and CoinLedger. To arrive at the data these entities consume, the protocol must extract, transform, and enrich the raw blockchain data to make it accessible. Covalent Covalent Staked CQT Covalent uses a Stake-for-Access model where network operators (BSPs and BRPs) stake CQT to perform work on the network. Covalent employs staking parameters , such as max/min values and a delegation ratio to ensure staked CQT remains distributed among the operator sets. BSPs must stake a minimum of 175,000 CQT and are restricted to 350,000 CQT. Stake-for-Access Stake-for-Access staking parameters staking parameters Alternatively, BRPs must stake a minimum of 35,000 CQT, are restricted to 70,000 CQT, and do not receive delegation. Covalent has now migrated the staking contract from Moonbeam to Ethereum . to Ethereum to Ethereum The percentage of staked CQT grew from 22% in Q1 2023 to 29% in Q1 2024, despite a 20% increase (an additional 104 million CQT) in the circulating supply. When the BRP role decentralized in mid-August 2023, it enabled a new group of network operators to stake CQT. Nevertheless, the BRP node set accounts for less than 600,000 of the 184 million CQT staked, representing just 0.3%. Given the maximum stake limits and that most BSPs have not reached delegator capacity, contributors to the growth in the percentage of staked CQT can be partially attributed to the 9% YoY increase in active delegators and the addition of two new BSPs in Q3 2023, which increased stake capacity by 19.6 million CQT. Financial Market Cap The CQT market cap rose 28% QoQ, reaching $275 million multiple times before ending Q1 at $199 million. Since Covalent opened the BRP role and added two new operators in mid-August 2023, the CQT price has risen 232%, while the broader market only appreciated 132% in the same time period. Though the BRP role minimally impacted the amount of CQT staked, adding two new BSPs increased stake capacity by 19.6 million CQT. This reduced tradable CQT and applied upward pressure on the asset price. In late January, Covalent implemented a CQT buyback program. Although only 219,000 CQT were bought back by the end of Q1, this program lays the foundation for linking network demand directly to increased buying pressure on CQT. Essentially, as API query demand rises, Covalent's revenue will increase, enabling further buybacks of CQT with the additional revenue. buyback buyback Qualitative Analysis Ethereum Wayback Machine In Q4, Covalent introduced the Ethereum Wayback Machine ( EWM ). The EWM is a long-term data availability solution for historical data on Ethereum. It was born from Ethereum’s introduction of state expiry in its Dencun upgrade. State expiry addresses Ethereum state bloat from rollups posting transaction data to the network. All the additional data could lead to performance degradation, high storage costs, and increased sync times for nodes in the long term.\ introduced introduced EWM EWM Dencun Dencun EIP-4844 (a part of Dencun) introduced a blob transaction type that rollups will use to post data more cheaply to Ethereum. Furthermore, blob data is only stored by Ethereum consensus layer nodes (beacon nodes) for roughly 18 days before being deleted. Covalent’s EWM will store blob data indefinitely, providing a persistent and verifiable layer for storing rollup history. In addition to archival purposes, the EWM will help applications from compliance to AI model training. EIP-4844 EIP-4844 18 18 AI Use Cases Covalent's structured data is used by a wide range of consumers, from taxation tools (CoinLedger) to investor dashboards (Consensys) to user wallets (Rainbow). Artificial intelligence (AI) is an emerging data consumer well-suited for Covalent’s data infrastructure products. To attract AI talent to the Covalent product, the team has administered multiple grants to AI projects. The Q1 grantees using Covalent in their AI applications are detailed below. Artificial intelligence Artificial intelligence SmartWhales: an onchain copy-trading platform that enables investors to follow DEX traders and automate trades to copy their activity.\ BotFi: a protocol that enables users to automate DeFi tasks, such as copy trading, dollar cost averaging (DCA), limit order scheduling, and more. It also offers an AI token screener, a frontrunning bot, and other tools to enhance the DEX trading experience. Laika AI: a browser extension that offers onchain analytics, token contract analysis, wallet tracking, AI alerts of onchain activity, and more. SmartWhales: an onchain copy-trading platform that enables investors to follow DEX traders and automate trades to copy their activity.\ SmartWhales : an onchain copy-trading platform that enables investors to follow DEX traders and automate trades to copy their activity.\ SmartWhales SmartWhales BotFi: a protocol that enables users to automate DeFi tasks, such as copy trading, dollar cost averaging (DCA), limit order scheduling, and more. It also offers an AI token screener, a frontrunning bot, and other tools to enhance the DEX trading experience. BotFi : a protocol that enables users to automate DeFi tasks, such as copy trading, dollar cost averaging (DCA), limit order scheduling, and more. It also offers an AI token screener, a frontrunning bot, and other tools to enhance the DEX trading experience. BotFi BotFi Laika AI: a browser extension that offers onchain analytics, token contract analysis, wallet tracking, AI alerts of onchain activity, and more. Laika AI : a browser extension that offers onchain analytics, token contract analysis, wallet tracking, AI alerts of onchain activity, and more. Laika AI Laika AI Entendre Finance: an AI accounting tool that enables users to aggregate onchain activity from different platforms, automating transaction tracking, analysis, and record-keeping. Entendre Finance : an AI accounting tool that enables users to aggregate onchain activity from different platforms, automating transaction tracking, analysis, and record-keeping. Entendre Finance Entendre Finance Closing Summary Covalent has significantly improved its network since Messari’s last report on the protocol in Q4 2022. It has expanded support to over 225 blockchains, decentralized another layer in its supply-side operations, launched the GoldRush developer kit, implemented a CQT buyback program, and announced the Ethereum Wayback Machine. As we move forward into the remainder of 2024 and beyond, Covalent is poised to increase its API usage while continuing to enhance its protocol in the next stage of the market cycle. last report last report This story was distributed as a release by Btcwire under HackerNoon’s Brand As An Author Program. Learn more about the program here: https://business.hackernoon.com/brand-as-author This story was distributed as a release by Btcwire under HackerNoon’s Brand As An Author Program. Learn more about the program here: https://business.hackernoon.com/brand-as-author Btcwire https://business.hackernoon.com/brand-as-author https://business.hackernoon.com/brand-as-author

Messari Summary Report On Covalent’s Growth In Market Cap, Staking And Token Buyback In Q1 2024

Ethereum is undergoing a transformative journey into the “Rollup Era,” driven by the Ethereum Improvement Proposal 4844 (EIP-4844). This signifies a pivotal shift in blockchain technology with a novel data structure referred to as “ .” In line with Ethereum’s scaling efforts, the roadmap emphasizes streamlining operations by purging historical blockchain data and implementing state expiry to enhance efficiency and scalability. This shift, however, poses a challenge–maintaining the accessibility of historical data without relying on rent-seeking, centralized intermediaries. blobs Recognizing these changes within Ethereum, the Covalent Network steps in as a key solution designed to maintain the availability of blob data indefinitely in a decentralized way. As Ethereum evolves and its data storage methods change, the Covalent Network is committed to providing archival data for a wide range of parties who rely on this information with the Ethereum Wayback Machine (EWM). Why Long-Term Data Availability Matters Consider blockchain data as the historical, immutable record of transactions, smart contracts, and activities on the Ethereum network. This data serves multiple purposes: It allows anyone to access and analyze the full historical transaction record. Transparency: Regulators may require access to historical data to investigate potential fraud or illegal activities. Regulatory Compliance: Investors and stakeholders rely on historical data to make informed decisions about blockchain-based activities. Investment Strategy: Developers may hesitate to build on a network with limited historical data accessibility, hindering the adoption of blockchain technology. Adoption: The absence of a solution like the Ethereum Wayback Machine poses a potential threat to the growth and impact of the blockchain ecosystem. In essence, the EWM plays a pivotal role in ensuring that Ethereum continues to thrive and remains a robust platform for innovation in use cases such as AI-model find-tuning, machine learning, risk estimations and future as-of-yet unknown unlocks. Introducing the Ethereum Wayback Machine (EWM) The Ethereum Wayback Machine is an open-source solution addressing the challenge of long-term data availability. It empowers developers, researchers, and ecosystem participants to access enriched and cryptographically secure historical data without relying on centralized intermediaries. At its core, the EWM comprises two key components: Securely extracts data from blockchains using cryptographic proofs, offering historical extraction for archival data and synchronous mode for real-time data. Block Specimens Producer (BSP): A concurrent block re-execution framework that enriches Block Specimens, providing one-to-one representations of block data obtained from an RPC call to a blockchain node. Block Results Producer (BRPs): How the Ethereum Wayback Machine Works The Ethereum Wayback Machine leverages the Covalent Network to ensure the accessibility and availability of historical blockchain data. By using BSPs and BRPs, developers can reconstruct a comprehensive representation of a blockchain and create databases with normalized schemas. Here's what makes the EWM stand out: The EWM addresses concerns of censorship risks by providing historical data through a decentralized network. Decentralized: Innovative technologies like Block Specimens and Block Results eliminate limitations associated with querying the RPC layer for data. Removing the RPC Bottleneck: Cryptographic proofs ensure data integrity, allowing participants to verify the accuracy of the provided data. Secured via Proofs: The EWM offers enrichment capabilities, such as contract tracing and off-chain NFT metadata, empowering developers and users with in-depth insights and analytics. Enrichment: Building for Ethereum's Future The introduction of sheds light on Ethereum’s steadfast dedication to innovation and improvement. This breakthrough addresses scalability and data management challenges that unlock novel possibilities for on-chain applications. However, as more people are able to participate in on-chain, important data that is used to verify transactions on L2 rollups is no longer accessible in the long term. While centralized players may offer solutions, the EWM stands out as a decentralized and pragmatic approach, providing ongoing access to historical blockchain data. EIP-4844 The Covalent Network, with its Ethereum Wayback Machine, exemplifies a game-changing solution designed to maintain the availability of blob data in a decentralized way. In a market landscape where data availability is paramount, Covalent's commitment to a decentralized solution is poised to play a pivotal role in Ethereum's continued success. Learn how Covalent is building the long-term data availability of the ‘ ’. Ethereum Wayback Machine About Covalent (CQT) has created the largest data availability layer of Web3, enabling millions of users to build the new economy of products in AI, Big Data, and DeFi. Its deep commitment to democratizing access to structured data is delivered through a singular Unified API for everyone. A core aspect of the DePIN ecosystem, Covalent serves developers, analysts, innovators & 1000’s of customers with comprehensive, real-time data access to +225 blockchains & growing. Covalent For more information, check out Covalent’s: | | | | | Official Website Twitter/X Discord Telegram Blog API Guides This story was distributed as a release by BTCWire under HackerNoon’s Business Blogging Program. Learn more about the program here: https://business.hackernoon.com/

Covalent (CQT)’s Ethereum Wayback Machine: Securing Long-Term Data Availability in the Rollup Era

কোভালেন্ট (CQT) এর ইথেরিয়াম ওয়েব্যাক মেশিন: রোলআপ যুগে দীর্ঘমেয়াদী ডেটা উপলব্ধতা সুরক্ষিত করা

Die Ethereum Wayback Machine von Covalent (CQT): Sicherung der langfristigen Datenverfügbarkeit im Rollup-Zeitalter

Ethereum Wayback Machine de Covalent (CQT): asegurar la disponibilidad de datos a largo plazo en la era acumulativa

Ethereum Wayback Machine de Covalent (CQT) : garantir la disponibilité des données à long terme à l'ère du cumul

सहसंयोजक (सीक्यूटी) की एथेरियम वेबैक मशीन: रोलअप युग में दीर्घकालिक डेटा उपलब्धता को सुरक्षित करना

Covalent (CQT) のイーサリアム ウェイバック マシン: ロールアップ時代の長期データ可用性を確保

Covalent(CQT)의 Ethereum Wayback Machine: 롤업 시대의 장기 데이터 가용성 확보

Ethereum Wayback Machine da Covalent (CQT): garantindo a disponibilidade de dados de longo prazo na era do rollup

Ethereum Wayback Machine от Coвалент (CQT): обеспечение долгосрочной доступности данных в эпоху агрегирования

Covalent (CQT)'nin Ethereum Wayback Makinesi: Toplama Çağında Uzun Vadeli Veri Kullanılabilirliğini Güvenceye Almak

Máy quay ngược Ethereum của Covalent (CQT): Đảm bảo tính khả dụng của dữ liệu dài hạn trong kỷ nguyên tổng hợp

Covalent (CQT) 的以太坊 Wayback Machine：确保 Rollup 时代的长期数据可用性

In the dynamic realm of blockchain and decentralized technologies, the Covalent Network is reshaping on-chain protocols with its innovative protocol revenue sharing model. Departing from traditional financial systems, this feature brings unparalleled accessibility, eliminates intermediaries, and empowers the community with direct access to granular blockchain data. CQT Market Buy-backs & Token Drivers At its core, the Covalent Network serves a dual purpose as both a decentralized physical infrastructure and middleware project, facilitating the connection between the supply and demand sides of on-chain data. Drawing parallels with well-known platforms like Uber, Covalent links query operators (supply) with applications (demand), employing a take rate to accrue protocol revenue and distinguish itself from traditional financial structures. In the foreseeable future, the Covalent Network will fully reside on Ethereum and exclusively utilize ETH for network fees. Through its (EWM), a pioneering solution designed to secure historical blockchain data access, Covalent ensures decentralization, avoiding reliance on centralized entities. This strategic move not only solidifies integration but also actively reinforces Covalent's commitment to the Ethereum ecosystem, cultivating a symbiotic relationship that enhances both Covalent and the broader Ethereum Network. Ethereum Wayback Machine How does it work? The CQT Network uses $CQT as a governance and staking token. Operators stake tokens to participate in network operations, with the share of work distributed proportionally based on their stake. Demand-side revenue collected by the protocol is distributed to operators through a revenue-sharing mechanism. The primary value accrual mechanism unfolds as follows: Applications directly query the blockchain data API by interacting with on-chain smart contracts and pay via stablecoins. Pricing of the API is determined by the network of operators. Stablecoins are converted to $CQT through a market-buy mechanism. $CQT is staked by Network Operators, serving as a security guarantee for their honest behavior. Earned $CQT is distributed to operators based on the work performed. Operators sell a portion of the earned $CQT for operating expenses, circulating back to the economy. Transforming Demand into Token Value Drivers Notably, the demand side of the Covalent Network’s protocol is priced in US dollars or fiat, ensuring predictable and forecastable consumption bills. The protocol collects revenue in US dollars, periodically converting it to CQT (Covalent's native token) through market buys. The CQT is then distributed to validators as a network utility token, circulating back into the ecosystem and sustaining the network. The Covalent Network guarantees equitable compensation for participants actively engaged in network operations, representing a notable departure from conventional models where value accumulation often favors passive stakeholders with limited or no direct engagement. Questions and Answers: Q: How does Covalent’s decentralized model differ from centralized models? A: Unlike centralized models where passive token holders benefit without active involvement, Covalent's decentralized structure ensures that token holders earn rewards based on their active contributions, such as staking or running validators. This emphasis on active participation establishes a fair and rewarding distribution model within the decentralized ecosystem. Explore Covalent’s for additional details. Staking Dashboard Q: What sets Covalent apart in terms of instantly accruing protocol revenue? A: The more API calls that interact with the network, the more revenue is generated. By leveraging token incentives this will drive costs down for users and turn long term data availability into a public good. Q: Can you explain the current method of revenue accrual for Covalent and any changes anticipated? A: Currently, revenue accrual involves a two-step process: demand-side API consumers pay the protocol in USD, converted to CQT and distributed to validators. As more validators join, the goal is to evolve towards a more direct flow, reducing reliance on centralized collection and promoting increased decentralization over time. About Covalent: ($CQT) powers the data layer in blockchain, enabling millions of users to build the new economy. It stands out for its deep commitment to democratizing blockchain data availability. Since its inception, Covalent has been helping developers, analysts, and enthusiasts with comprehensive, real-time data across over 200 blockchains. Learn how Covalent is building the . Covalent Ethereum Wayback Machine For more information, check out Covalent’s: | | | | | Official Website Twitter Discord Telegram Blog API Guides This story was distributed as a release by BTCWire under HackerNoon’s Business Blogging Program. Learn more about the program here.

Covalent (CQT) Launches On-Chain Protocol Revenue-Sharing For Network Participants

Covalent (CQT) নেটওয়ার্ক অংশগ্রহণকারীদের জন্য অন-চেইন প্রোটোকল রাজস্ব ভাগাভাগি চালু করেছে

Covalent (CQT) führt On-Chain-Protokoll-Umsatzbeteiligung für Netzwerkteilnehmer ein

Covalent (CQT) lanza un protocolo de reparto de ingresos en cadena para los participantes de la red

Covalent (CQT) lance un protocole de partage des revenus en chaîne pour les participants au réseau

सहसंयोजक (सीक्यूटी) ने नेटवर्क प्रतिभागियों के लिए ऑन-चेन प्रोटोकॉल राजस्व-साझाकरण लॉन्च किया

Covalent (CQT) がネットワーク参加者向けにオンチェーンプロトコルの収益分配を開始

Covalent (CQT), 네트워크 참가자를 위한 온체인 프로토콜 수익 공유 출시

Covalent (CQT) lança compartilhamento de receita de protocolo on-chain para participantes da rede

Coвалент (CQT) запускает разделение доходов по протоколу цепочки для участников сети

Covalent (CQT), Ağ Katılımcıları İçin Zincir İçi Protokol Gelir Paylaşımını Başlatıyor

Covalent (CQT) ra mắt chia sẻ doanh thu giao thức trên chuỗi cho những người tham gia mạng

Covalent (CQT) 为网络参与者推出链上协议收益分享

With more than gamers worldwide, the gaming industry does not need to validate itself anymore. But what’s interesting is how this sector has started to form an intersection with the crypto scene - Particularly NFTs and the Metaverse. 3 billion A recent shared by Yahoo Finance estimates that the blockchain gaming market will hit $104.5 billion by 2028, growing at a CAGR of 68.2%. report One of the factors that helped crypto gaming garner much traction in a short time was the fact that both crypto and gaming have the world as their audience. For instance, in 2022, the top five countries had a total mobile gaming app download volume of approximately .  This list included countries from Asia (China, India), North America (United States), South America (Brazil), and Europe (Russia). 56 billion Similarly, the digital asset industry has witnessed tremendous growth in recent years, spurred by the rise of (DeFi), NFT gaming, and ecosystems. Between 2021 and 2024, global spending on blockchain solutions could triple; from . Decentralized Finance Metaverse US$6.6 billion to 19 billion The Perfect Match: Crypto Takes Gaming to New Levels Crypto gaming is empowering users with options to earn NFTs by playing and winning a game. This is not a new phenomenon in games, as various sorts of in-game tokens have already existed in games. What’s new is that the tokens earned in games can now be seamlessly exchanged for , fiat, or other types of digital assets through centralized or decentralized exchanges. stablecoins Transitioning to the larger picture, Forbes references an estimate from Coinmarketcap that the global gaming token market is worth nearly . The multi-billion-dollar size indicates a healthy flow of gaming tokens, which reflects a strong economy developing around crypto gaming. US$13 billion Some top tokens in the list include the likes of ApeCoin (APE), Decentraland (MANA), and Sandbox (SAND). Global Tech Leaders Keen to Leverage Decentralized Gaming The untapped potential of decentralized gaming has made it lucrative for global tech leaders to leverage the space to its fullest. For instance, South Korea’s Wemade has raised from Microsoft, whereas Wemade is a popular game developer who has been aggressively developing blockchain games recently. US$46 million With all the recent developments, signals are clear. Blockchain gaming is set to have a thriving and engaging future. Play-to-Earn: The New Incentive for Gamers The merging of crypto and blockchain tech with the digital gaming paradigm - at large - has resulted in several interesting business models to incentivize gamers in a new way. The models present players with an opportunity to earn in-game rewards in the form of digital collectibles. In-Game NFTs Gamers can earn cryptocurrencies or NFTs by completing diverse in-game activity-based tasks such as looking for hidden treasures, battling other players, or completing missions. More importantly, they enjoy full ownership of these in-game rewards, such as virtual currencies, avatars, weapons, and more. And as these assets have real-world value, gamers can trade them for fiat money. Interoperability of In-Game Items In some crypto gaming platforms, the in-game items are interoperable. As such, players may bring in-game assets won from one blockchain game to another blockchain game or choose to sell them in open marketplaces. Transparency, Quantifiability, Programmability Moreover, because NFT games run on a blockchain, ownership is transparent and easily quantifiable. This transparency also extends to financial transactions, as the programmability of the NFTs helps platforms to earn their share on each transaction seamlessly. Decentralized Gaming Multiple opinion published in reputed industry have advocated for decentralization as the future of gaming. After all, several factors keep decentralized gaming at an advantageous position over Centralized gaming. pieces publications Segueing into the specifics, gamers are the exclusive and permanent owners of all in-game assets in decentralized gaming. In alignment with this, decentralized blockchain games, known for offering enhanced levels of security, transparency, and trust, also provide participants with increased freedom. The traditional gaming industry revolves around a few big players, like Nintendo and Ubisoft. The decentralized gaming space aims to open it up for all types and sizes of game developers and make the industry more democratic, equitable, and inclusive. Decentralized gaming is globally accessible for developers with its code and data present on blockchains. For players, decentralized gaming is empowering. It offers more choices. Players are more in control of how they want their game to play out. A decentralized gaming paradigm is set to redefine the gaming landscape and significantly improve the user experience. Enhanced Levels of User Experience Unlike traditional games, blockchain games could significantly elevate the in-game experience. After all, not only do blockchain games provide players with the liberty to join and leave games as they wish, similar to traditional games, but they also offer an added level of flexibility and personal asset control. These are elements unique to blockchain technology, offering a key differentiation. Given this potential for heightened player freedom and asset control, competition among platforms could intensify. This could result in better earning opportunities, an enhanced gaming experience, and an increased demand for experienced blockchain developers. It essentially presents a win-win scenario for both developers and players. Atari, a traditional leader in the world of gaming, launched Atari X in May 2022 for the same reason. Its decision was aimed at creating a blockchain ecosystem that seamlessly integrates community, gaming, and utility. Challenges and Opportunities While the intersection between gaming and crypto is nothing less than a launchpad for newer innovations to take off, there are challenges on the road too. Challenges Costly Entries Many crypto games working on the P2E model still pose a high barrier to entry, where players need to buy multiple NFTs from the platform to get started. Potential Breaches or Hacks There could be security risks if platforms are vulnerable and codes are not adequately secure. Consequently, players might end up sending tokens to unintended recipients and fall victim to scams or lose their assets during a breach or hack. One of the biggest hacks in the history of blockchain breaches is that of a gaming platform. It happened when US$625 million in and was stolen from the Ronin Network, affiliated to the Axie Infinity Blockchain gaming platform. Ethereum USDC stablecoin UX Issues User experience issues, common in emerging fields of virtual technology applications, could also arise. Platforms that lack user experience standards frequently suffer from poor engagement rates despite having robust branding pursuits to back them up. For instance, despite having a market capitalization of US$1.18 billion, from DappRadar’s report showed that the Ethereum-based metaverse platform Sandbox had only over 600 users in a day. data Intriguingly, Sandbox’s rival Decentraland had a mere 30 daily active users, according to one of the data aggregators. However, another source referenced figures from Decentraland’s Github Catalyst Monitor, indicating over 500 active users on the platform. Although the platforms refuted these claims, many experts cited unpleasant user experiences and inadequately capable interfaces as reasons behind such low engagement rates. Opportunities Inclusive Model for Growth Despite these drawbacks, the opportunities that crypto games present to us are enormous. The P2E model can open up new avenues for financial inclusion, where developers would directly benefit from their products, and players receive rewards for the time they spend gaming. Advantages of Building a Community Decentralized gaming platforms are excellent places to build a community that has its self-sustaining economy with funds flowing healthily between the developer and user communities. The Future of Gaming and Crypto The future of crypto gaming looks promising from multiple viewpoints.NFT gaming would expand further with a range of new styles and genres. Metaverse experiences will incorporate NFTs to reward their digital inhabitants. P2E gaming will consolidate further. New earning models would come into play. Newer avenues will open up to monetize and build on in-game assets. Since the community plays a significant role in crypto gaming, it will find its natural ally in social media platforms worldwide. There are games in the crypto world that also serve as hybrid social media platforms. Here, players can create innovative game characters and assets of their preferences. Reality Chain - for instance - has come up with a multi-chain social gaming metaverse on the Octopus Network. The players can ramp up their social and gaming lives through a solid combination of non-immersive, multiplayer 2D & 3D experiences. Technology-wise, AR and VR technologies would play a decisive role. Experiences will become better, more immersive, and more interactive. The incorporation of AR and VR is fast-growing in the gaming market. The realm of crypto gaming follows the trend. According to publicly available numbers, the global of AR & VR gaming will cross US$31 billion by the end of 2023. And by the end of 2027, the market will surpass US$52 billion. market size The presence of blockchain would make the gaming world more democratic, equitable, and inclusive. With this shift, power will stay in the hands of the users without having to compromise on transparency and trust. Although the degree of success will always vary with the levels of security and user experience the platforms would offer, it is true that crypto has already started revolutionizing gaming and will continue to do so with increased fervor and resilience. Also published here.

Crypto and Gaming Converge to Catalyze Innovative Economic Models

I sat down with Ganesh Swami, co-founder and CEO at Covalent, a Blockchain Big Data analytics firm, to discuss the Ethereum ecosystem. Hi, Welcome to our “Behind the Startup” Series. Please tell us about yourself and the story behind Covalent? Ishan Pandey: Hi guys, thank you for having me. I’m Ganesh, a serial entrepreneur and a physicist by training. I have spent much of my career thus far in the data space across a number of industries, including pharmaceuticals, cloud computing, and now blockchain technology. Ganesh Swami: In 2017, my co-founder Levi and I had the foresight that transparency is crucial for this industry to reach mass adoption and fully realize the potential of crypto. In an effort to increase transparency, we saw there was an opportunity to build a solution that would tackle the challenges of blockchain data. That solution is Covalent today. Even though data on a blockchain is freely available. Why is it still difficult for users to access data and perform analytics on it for business uses? Ishan Pandey: Blockchain data is freely available. However, since there are so many different protocols, chains, projects, and products, each produces data in various formats and the data rarely follows any standard, causing unnecessary complexities. This lack of standardization and complexity means that developers and traders alike must sink considerable resources into analyzing data. Our belief is that this problem has to be solved before blockchain-based products are attractive to mainstream users. Ganesh Swami: What kind of target audience generally leverages data related to blockchain ecosystems? Ishan Pandey: Anyone who relies on data to make a decision is part of the target audience. Typically, it’s been analysts, investors, and traders. However, given that Covalent not only offers a wide range of rich data services that comes from indexing the entire blockchain, we also have a no-code solution. This drastically increases the availability and appetite for blockchain data. As a result, we see this audience expanding greatly, ranging from educational institutions all the way to healthcare. Ganesh Swami: Please share some interesting insights and trends that you have identified by using data analytics? Ishan Pandey: We don’t dictate how our customers use the data. And oftentimes, we are surprised by the diverse insights our customers gather from deep, granular data. Taking Uniswap as an example, investors have used Covalent to do rich due diligence on the 20,000 available liquidity pools. Here’s a sample of what they’ve done: Ganesh Swami: Most profitable pools Impermanent loss over time for each pool Whale concentration Wash trades How can yield farmers use big data to make actionable decisions? Ishan Pandey: I think yield farmers are going after the most returns without any regard for risk. As the space levels up, I think yield farmers can make conscious, data-driven decisions factoring in both risk as well as reward. Ganesh Swami: We are already working with 2-3 risk analytics providers to bring this level of sophistication to the DeFi space. How can developers use Ethereum data for building successful Decentralized applications and spotting future market trends? Ishan Pandey: Developers need to make a conscious decision to target either power users or novice users. For power-users, DApp developers can show a lot of data during the decision making process in order to inform. For novice users, DApp developers can use data to highlight the best and second-best choices when it comes to a decision. Ganesh Swami: For example, a very popular wallet uses Covalent to show the profitability of various pools over time right in the UI when the investor/trader is making a decision. I think this is the future, and it’s exciting to see it play out in front of our eyes. Do custodians and exchanges use data analytics? If so, what is the objective behind it? Ishan Pandey: Absolutely, data is a key offering for both custodians as well as exchanges and we have customers of both kinds. In the exchange space, Covalent offers basically the data portion of what a trader would see on a centralized exchange like Coinbase, for example, historical transaction activity, PnL, and other record-keeping use-cases. Ganesh Swami: With custodians, it’s coming down to a value-added service. No custodian wants to remain just a custodian but wants to differentiate themselves amongst their competitors. Some custodians are starting to add yield generating activity with the assets, participate in securing proof-of-stake networks, etc. Data plays a huge role in providing a good user experience to their end-users. What are your views on the problem of scalability and high transaction fees that Ethereum is currently facing? Ishan Pandey: In my opinion, scalability and high transaction fees will get solved within the next 24 months. The solution comes from layer 2, scaling solutions that use Ethereum for base-layer security. We are already working with Matic, Skale, Loopring, zkSync, Optimistic, and others who are currently on mainnet or will launch on mainnet within the next few weeks. Ganesh Swami: How can big data be used to analyze money laundering and other illicit activities? Ishan Pandey: This analysis falls under a field called “financial forensics,” and there are many players in the space who focus on selling big data solutions to 3-letter agencies. Covalent doesn’t focus much on this use-case because most illicit activities happen on smaller and niche chains. Ganesh Swami: Some use-cases overlap with other kinds of risk metrics we alluded to in an earlier answer. For example, a wallet is risky if: Associated with a mixer like Tornado Associated with a banned address Associated with a hacked exchange You can see the recent news on how stolen/hacked funds were recovered because the hacker tried to off-load the funds without carefully covering their tracks. What future trends and challenges do you see in 2021 for the Ethereum ecosystem? Ishan Pandey: A couple of huge innovations on the horizon: Ganesh Swami: ETH 2.0 DAOs going mainstream Blockchain games become more popular NFTs make a come-back The purpose of this article is to remove informational asymmetry existing today in our digital markets by performing due diligence by asking the right questions and equipping readers with better opinions to make informed decisions. The material does not constitute any investment, financial, or legal advice. Please do your research before investing in any digital assets or tokens, etc. The writer does not have any vested interest in the company. Interviewer - Ishan Pandey

Big Data Analysis on Blockchain with CEO of Covalent, Ganesh Swami

Andrew Ng likes it, you probably will too! Code is one of the fundamental building blocks in machine learning research. Engineers already are in the habit of publishing code to share with the community, and it is now becoming standard for researchers to publish their code online as well. Increasingly more ML conferences are making it a requirement. As David Ha (@hardmaru), a research scientist at Google Brain, puts it: However, even if the code is actually available, you often have to go through the hassle of searching for it on Github manually or searching through various websites and blogs. A new browser extension from streamlines this whole process and automatically shows you open-source code for any machine learning/artificial intelligence papers that you may come across while you’re browsing the web — on Google, Arxiv, Twitter, Scholar, and other websites. CatalyzeX The extension is currently available for and Chrome Firefox You’ll see buttons appear in-line on the page automatically for any implementations found. [CODE] Click on any code link to easily jump to the code and explore. Links to install the browser extensions: | Chrome Firefox What if there is no code available yet? If for some reason the code is not available, you can click on ‘ ’ NO CODE FOUND: REQUEST AUTHOR/EXPERT You’ll be redirected to here: ‘ ’ will let you send a direct request for code to the authors — if they are willing to share it with you personally. Ask Authors for Code Sometimes the authors may choose to not make the code public. In that case, feel free to click ‘ ’ and an expert on the topic can be requested to implement the paper instead. Request Implementation P.S. — The creators of this extension reached out to Andrew Ng and he liked it too! Install the Chrome extension here: https://chrome.google.com/webstore/detail/find-code-for-research-pa/aikkeehnlfpamidigaffhfmgbkdeheil Install the Firefox extension here: https://addons.mozilla.org/en-US/firefox/addon/code-finder-catalyzex/ Also published on: https://himanshuragtah.medium.com/catalyzex-a-must-have-browser-extension-for-machine-learning-engineers-and-researchers-690b64ea3936

Introducing CatalyzeX: A Browser Extension for Machine Learning 

Last week I wrote a project overview on and this week I want to dive a little deeper into the project and its technology. This article is based on the 3 main technological focal points of the COVA protocol: TEE’s, Centrifuge and the Covalent Virtual Machine (CovaVM). But first a little reminder of the Covalent project and what it entails. Covalent Covalent is creating a new internet that is comprised of Smart Data that knows how to properly process and utilize communication databases. By implementing Smart Policies, the data sets can be properly managed and explicit terms and conditions can be added to specific data. Now let’s take a look at the technology. TEE’s (TEE’s) provide a military-grade security and privacy solution that are active on the entire computational network. Trusted Execution Environments TEE’s can be implemented into the embedded hardware technologies of AMD, Intel and ARM. Various providers offer different TEE implementations. Covalent will initially be using (SGX) to provide the TEE for off-chain computing. Intel’s Software Guard Extensions By implementing a rewards system a network of TEE nodes will be inaugurated. These network nodes will bring in ‘trusted’ computing power. After embracing this trusted computing power, supervisor programs can be set up, which can then expand and improve the platform. TEE nodes are incentivized for providing computation. Covalent will be working with masternodes. At this point no additional information about masternodes has been made public. Besides utilizing TEE’s and creating a network of TEE nodes through a rewards system, Covalent is creating 2 proprietary technological features: their programming language called and the (CovaVM). Centrifuge COVA Virtual Machine Centrifuge Centrifuge is the programming language that will be used to write ‘Smart Policies’. Earlier attempts at policy-enhancement models, like ‘Naccio’, ’PoET/Pslang’ and ‘Polymer’ were discontinued in 2005. While these previous attempts of policy enhancement models were very general, with the development of Centrifuge, Covalent is creating a language specifically for defining data policies. Covalent Virtual Machine Covalent is creating a protocol that solves large computational problems and is called Covalent Virtual Machine (CovaVM). To ensure a secure, strong and proven mature platform, (JVM)will be the basis of this CovaVM execution engine. Smart Contracts on the Covalent Virtual Machine are highly scalable because of its off-chain computations. Covalent enables to separate consensus from Smart Contract execution and performs parallel execution of smart contracts making the computational power the sum of all its nodes. Java Virtual Machine The overview below illustrates how Smart Policies are written in Centrifuge and enforced in CovaVM. Recap Building a new Web 3.0 solution by creating a platform that not only processes data, but also securely utilized that data is Covalent’s main goal. For the creation of their platform they will implement 3 main technological features into . 7 different layers According to GitHub Covalent already has a private testnet that is active. For the private testnet they use TEE nodes in a standalone blockchain network that communicates with a smart contract system. Unfortunately the source code is private so we cannot review it at the moment. To make it a little easier to understand we can compare Covalent to Ethereum in terms of technical features. Ethereum Virtual Machine is compared to Covalent Virtual Machine. Ethereum programming language for smart contracts is Solidity while Covalent smart policies can be written in Centrifuge. Full disclosure : This article is not intended as investment advice. It is just my personal opinion about Covalent and its COVA token. You should always do your own research. Covalent rewards me for writing this article and supports me for ventilating my own personal opinion. Subscribe to my channels , and if you like my articles and would like to be informed about Blockchain, cryptocurrency projects and news. You can also read my articles on . If you have any questions about this article, please comment in the comment section below. Thank you! LindaCrypto Steemit Medium Twitter LinkedIn

Future-proof Blockchain project Covalent is building a decentralized Web 3.0 Solution

Full disclosure: This article is not intended as investment advice. It is just my personal opinion about Covalent Protocol. You should always do your own research #DYOR. I am part of “the article group”, which rewards me for writing this article and encourages me to express my own opinions. In my I wrote a detailed overview of the project and in this article I want to go one step further and discuss several possible use cases of the Covalent Protocol. However, before we get to the use cases I first want to explain what Covalent is all about. previous article Covalent Protocol In 2017 a total of 22 zettabyte (ZB) of (1 ZB = 1,000,000,000,000 gigabytes); yet only 1% was actually being utilized. Several reasons exist why this percentage is so low, but perhaps the biggest reasons are: 1) privacy, data owners are hesitant to trust third parties with handling their data and 2) a value network is lacking, which would incentivize data owners for sharing their data. data was created Covalent aims to tackle the above problems by leveraging the power of blockchain technology and building a privacy-protected, decentralized computing platform and protocol, that is able to extract/analyse specific information from data without compromising privacy. This means that via the Covalent protocol data owners stay in control of their own data and are able to specify which particular piece of data they want to share and with whom. Since the use of data is traceable on the Covalent network, data ownership guarantees that data owners are fairly compensated at every stage of the dissemination and usage process. So now that we have a decent understanding of what the Covalent project tries to do, we can look at some of the potential use cases of the Covalent Protocol. Let’s assume that data about your medical condition exists and that you wish to share this data for research purposes. However, you want to share the data without compromising your privacy and you only want the data to be used for one specific research project. How do you know that the research institution is not re-using or even re-selling your data? Can you trust this third-party with handling your data? To solve this problem, Covalent has developed a decentralized application (DApp), on top of the Covalent protocol, called Medata. Medata acts as a medical data marketplace, where patients can specify which data they want to share and how this data can be used. When a researcher requests a dataset, only the relevant patient data is selected and anonymized or aggregated (so the values can no longer be traced back to one individual). The researcher can then use this dataset to analyze/run prediction models in order to answer his/her research questions. Through the use of smart policies (which are similar to smart contracts), the Covalent Protocol guarantees that data can only be used for that specific research project and not be redistributed to other parties. In addition, the patient also gets rewarded in Cova tokens (the token that drives the Covalent ecosystem) for sharing the data. In short, the researcher benefits by gaining access to large amounts of previously untapped data; whereas the patient gets to help advance scientific research without their privacy being comprised, whilst also being rewarded for sharing his/her data. Hence a win-win situation. Have you ever felt reluctant to share your credit card number with a third-party (I know I have). With the current system we have no clue what third-party companies do with our credit card information. For all we know, they may re-use or re-sell our credit card information and before you know it, it could be used by someone else without your permission. The Covalent Protocol provides a solution to this problem. By utilizing smart policies, the Covalent Protocol can enforce that your credit card number may only be used once for a one-time charge and be erased from the server after the payment is completed. Let’s assume that you have written a great new story and that you want distribute your literary masterpiece online; but you want to keep it exclusive and only allow it to be shared 100 times. With current technology this will not be possible, since everybody could just replicate the document redistribute its contents. However, by utilizing the Covalent Protocol it is possible to set up a smart policy that keeps track of how many times a certain document is shared and block the sharing option when the number of shares has reached 100. So there you have it, three potential use cases for the Covalent Protocol. This is by no means an exhaustive sample of all the possibilities that the Covalent project offers in terms of data sharing and data control; but I wanted to provide a small indication of the power of Covalent and how they envision to disrupt the existing data industry by building a privacy-protected, decentralized computing platform and protocol. Sources for more information on Covalent: Website: http://covalent.ai/index.html Whitepaper: https://docsend.com/view/dvvb75n Telegram: https://t.me/covalentofficial Twitter: https://twitter.com/covatoken Blog: https://medium.com/@covatoken Github: https://github.com/covalent-hq Subscribe to my channels: Medium , Twitter and Steemit if you enjoy my articles and would like to be informed about blockchain, cryptocurrency projects and news. You can also read my articles on LinkedIn .  If you have any questions about this article, please comment in the comment section below. Claps are also welcome, Thank you! CryptoShowdown

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COVALYZE

covalyze.com

1-10 employees

Since 2019

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COVALYZE

EVERGREEN INDEX #2719

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