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CDS Press Release Covalent Fuels AI Advancement With Largest Historical & Real-Time Web3 Data Set

Press Release

Covalent Fuels AI Advancement With Largest Historical & Real-Time Web3 Data Set

Covalent fuels AI advancement and is increasing its efforts in this direction.

lectertodd19/03/20242 Mins read212

Covalent Fuels AI Advancement With Largest Historical & Real-Time Web3 Data Set

Covalent harnesses over 100 billion transactions to fuel AI advancements, enabling a new era in Web3 data analysis and predictive modeling.

Table of Contents

Covalent Fuels AI Advancement With Largest Historical & Real-Time Web3 Data Set

There are numerous applications for which AI enhances blockchain utility, and conversely, applications where blockchains ensure the provenance and quality of data utilized by AI models. There will be a merge between the productivity enhancements facilitated by AI with the security and transparency inherent in blockchain systems.

The Covalent Network (CQT) sits directly at the intersection of these two complementary technologies. Its unique, decentralized data pipelining process structures and cryptographically secures every single historical blockchain datapoint across 225+ blockchains. With over 100 billion transactions semantically decoded and classified, Covalent encompasses both fungible and non-fungible tokens (NFTs), DeFi transactions, social interactions, account balances, and more. This meticulous decoding and classification of every piece of blockchain data is how Covalent has enriched 240 million wallets to-date, serving as a reliable solution for all Web3 data needs.

As AI and blockchain projects continue to integrate, more and more engineering teams are turning to Covalent’s dataset for advanced data analysis, predictive modeling, intelligent automation, and enhanced decision-making. Below, we dive into some of the latest projects that have leveraged Covalent for various AI use cases:

Covalent’s Innovative Use Cases for AI

SmartWhales: An On-Chain Platform for Copy Trading

SmartWhales introduces an onchain copy-trading platform powered by Covalent’s data in their AI, enabling users to follow successful DEX traders and invest alongside top Crypto Funds. The AI component is crucial for identifying profitable trading patterns and wallets across multiple chains, allowing users to “mirror” these strategies in their own trading activities. This democratizes access to high-quality trading moves, maintaining user control over their funds while optimizing investment opportunities.

BotFi: Leading the Way in Self-Custody DeFi Trading Bots

BotFi leverages Covalent’s data in their AI to provide an intelligent crypto trading experience, enabling users to automate strategies, analyze market trends, and receive personalized trading insights. The AI integration helps demystify DeFi operations, making trading accessible and effective for a broader user base.

Laika AI: Empowering Innovation, Streamlining Operations, Reshaping Web3

Laika use of Covalent’s data in their AI utilizes it for deep on-chain analytics, offering tools for token contract analysis, DeFi research, and NFT authenticity checks. Its AI models help users navigate the complexities of blockchain data, uncovering actionable insights and enhancing investment strategies.

Entendre Finance: Automating Onchain Financial Operations

This platform employs Covalent’s structured data in their AI to streamline and automate Web3 financial processes, offering solutions like real-time insights, anomaly detection, and predictive analytics. Entendre Finance exemplifies how AI can transform financial management in decentralized environments, ensuring accuracy and efficiency.

CQT: Merging AI and Blockchain

In the rapidly evolving landscape of blockchain technology, the integration of AI emerges as a catalyst for unprecedented transformation. Covalent empowers developers to experiment with inventive use cases driven by its comprehensive structured data set. Through strategic collaborations with leading AI-powered projects spanning a range of categories from DeFi to data analytics and security enhancement, Covalent remains at the vanguard of AI-driven advancements in Web3, shaping the technological landscape and unlocking endless possibilities.

About Covalent

Covalent (CQT) is the home for Web3 data, 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. Learn how Covalent is building the long term data availability ‘Ethereum Wayback Machine’.

Sources:cryptoslate

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lectertodd

Lectertodd is 27 years old. She graduated from Çankaya University, Department of Psychology, in 2021. She actively works as a writer, translator, and editor for various websites. Moreover, she loves reading, researching, and learning new things.