In case you missed it, the latest Twitter Space featured Ganesh, the Co-Founder of Covalent (CQT) in conversation with Veli Mutlu and Enes Yuce from Crypto Data Space.
Covalent-CQT Twitter Space Recap – February 19, 2024
This session provided an in-depth exploration of Covalent‘s journey, with a specific focus on key topics such as artificial intelligence (AI), long-term data availability, the DePIN narrative, and retroactive ecosystem drops. Let’s break it down.
Since its inception nearly three years ago, Covalent has navigated the challenges of a bear market, not just persevering but emerging as the largest indexer in the Web3 space. With a primary focus on indexing over 220 blockchains and providing essential historical data through its Unified API, Covalent has solidified its position as a pivotal player in the blockchain landscape.
Central to Covalent’s distinctive approach is the implementation of a freemium model across its product suite, including Increment (dashboard and analytics) and Goldrush (block explorer kit). This model enables users to access valuable data without upfront costs, fostering a flow of revenue back to the network as users recognize the inherent value—a foundational principle in Covalent’s decentralized ecosystem.
The heart of the discussion revolved around Covalent’s role as the ‘key data availability’ layer in the evolving Web3 space. As Ethereum’s roadmap introduces challenges to accessing historical data, Covalent emerges as a pivotal player in overcoming these obstacles. Ganesh discussed the CQT’s Ethereum Wayback Machine and its strategic use in addressing challenges related to centralization and ensuring long-term data availability.
Covalent’s Alchemist Program, a thriving growth and leadership initiative, has successfully drawn new talent into the Web3 space. Alchemists, numbering over 3,000 participants, actively contribute to expanding and enriching the Covalent ecosystem through quests, networking, and participation in leadership roles, workshops, and regional communities. Beyond fostering networking and learning opportunities within Web3, the program significantly contributes to career development and community engagement.
Looking ahead to 2024, Ganesh emphasizes that Covalent’s ambitious plans are centered around four major categories. These include a deepened focus on the DePIN narrative, solidifying Covalent’s leadership in addressing the evolving needs of Web3 and AI, refining structured data for ensuring long-term data availability, and enhancing token utility through retroactive ecosystem drops.
You can access the recording on this space here.
About Covalent
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 Ethereum Wayback Machine.
For more information, check out Covalent’s: Official Website | Twitter | Discord | Telegram | Blog | API Guides
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