Place/Date: - November 3rd, 2021 at 1:00 am UTC · 3 min read
Contact: AscendEX, Source: AscendEX
Covalent has one API to access all chain data. The goal is to make on-chain data available, open, accessible, and cheap for the next one billion users. Covalent has indexed and decoded entire blockchains, making them available to developers utilizing a unified API. Visibility to billions of blockchain data points for every single wallet. The same API works across seven different blockchains. Developers cut down time to market from two weeks to a matter of hours with Covalent. Developers can create their own API endpoints for their projects and list them on the marketplace for others to consume.
Covalent is providing visibility to billions of blockchain data points for every single wallet. Covalent does not require the developers to write indexing code or understand the nuances of blockchain data structures. Being approachable to a non-technical user, the Covalent API normalizes the subtleties of different blockchains with the single unified API. Developers do not need to understand the arcane nuances when porting over to a multi-chain future.
Primer is a proprietary transformation language that was inspired by the MongoDB query language. With Primer, developers can select the fields they want and aggregate the data to suit their needs. All of this querying is done in real-time. Data is further decoded into a format that is immediately usable by the developers. There’s no need to go looking for APIs or write custom decoding software. The Covalent network features fully decentralized storage and compute layers with low fees and high throughput.
CQT, the Native token to the Covalent Network, allows users to delegate their tokens to validators. Validators fulfill transactions on the network, and users are rewarded with new tokens. CQT is a governance token whereby token holders vote on proposals to change the system parameters. CQT is also used as a staking asset. Validators can earn fees for answering queries. Finally, CQT is a network access token that fulfills data queries for users of the API.
AscendEX is a global cryptocurrency exchange with a comprehensive product suite including spot, margin, and futures trading, wallet services, and staking support for over 200 blockchain projects such as bitcoin, ether, and ripple. Launched in 2018, AscendEX services over 1 million retail and institutional clients globally with a highly liquid trading platform and secure custody solutions.
AscendEX has emerged as a leading platform by ROI on its “initial exchange offerings” by supporting some of the industry’s most innovative projects from the DeFi ecosystem such as Thorchain, xDai Stake, and Serum. AscendEX users receive exclusive access to token airdrops and the ability to purchase tokens at the earliest possible stage.
Covalent has one API to access all of the chain data. The goal is to make on-chain data available, open, accessible, and cheap for the next one billion users. Covalent has indexed and decoded entire blockchains, making them available to the developer via a unified API. Visibility to billions of blockchain data points for every single wallet. The same API works across seven different blockchains.