Covalent satisfies the need for useful and publicly available blockchain analytics software.

Blockchain technology is becoming increasingly complex and precise, timely data is quickly becoming a valuable commodity. The primary catalyst for this expansion is DeFi and the rapid innovation happening in the space. Beyond inflated gas prices on the Ethereum network, DeFi also contributes to data congestion.

Developers looking to create products, services, or protocols face a real issue. Blockchain data is messy, disorganized, and bringing it to an effective structure is challenging for the best of engineers. In other words, developers need sources of accurate data and solutions that help them quickly organize data.

The cutting edge of DeFi continually pushes the ecosystem to exponential growth, leaving many questions and challenges behind. DeFi created hundreds of assets that are difficult to value, such as synthetics or liquidity provider tokens. This creates an environment where it is almost impossible to develop a consolidated view of the marketplace.

Blockchain technology has been lauded for its ability to transform businesses by improving efficiencies, lowering costs, and boosting the speed of operations. These benefits have been covered widely, while little attention has been paid to the technology’s shortcomings. This can be quite frustrating for several enterprises that are interested in integrating blockchain in their operations.

One of the unique features of this technology is its capability to record the full history of transactions and events occurring over the network. As a result, blockchain data takes up thousands of gigabytes in storage space, most of which may be irrelevant for particular organisations. This presents a big data problem for organisations that requires loads of human resources and sophisticated technology to solve. Whereas these may be readily available for resource-rich enterprises, most businesses cannot afford such luxuries.

Covalent understands that this is a genuine concern and has taken up the challenge to address this long-standing problem.

Any product owner can easily leverage the Covalent API to query for accurate and timely blockchain data.

With some other significant developments in the works, Covalent is gearing towards building an even more robust infrastructure that users can rely upon to obtain actionable insights to boost productivity and business growth.

For the blockchain community, Covalent is playing a significant role in accelerating mainstream adoption of the technology; something that has held back the industry for the longest time.

Despite its massive size, the debt markets are plagued with inefficiencies. The problems with the debt market can be distilled into one or more core points — their liquidity risks, their barriers to interoperability between markets and regions and there is a single point of failure due to their heavy concentration of players that are crucial to market operations.

Covalent works on data-backed research reports on a variety of different sectors like decentralized cloud computing, file storage, sports betting and gambling, currency exchanges, e-commerce, privacy and security and decentralized social media.

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