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Powerloom, a pioneering composable data network facilitating protocols to index and query blockchain data in a decentralized fashion, has announced its expansion to the Base ecosystem. This strategic move coincides with the company’s celebration of surpassing 5,200 Snapshotter Lite nodes, underscoring its dedication to delivering actionable onchain data across both Layer-1 (L1) and Layer-2 (L2) networks.
Powerloom’s integration with Base, an Ethereum Layer-2 scaling solution incubated by Coinbase, signifies a groundbreaking opportunity for Base users. It introduces the capability to mint a data node, presenting a unique avenue for users to contribute to and gain from onchain data. Powerloom’s one-click setup for Snapshotter Lite Nodes simplifies participation by eliminating the necessity for specialized infrastructure.
Swaroop Hegde, Co-founder of Powerloom, commented on this significant milestone, stating, “Reaching over 5200 Snapshotter Lite nodes is a milestone that signifies trust and growth in Powerloom’s mission. As we expand into the Base ecosystem, we’re growing from a tech standpoint and building the community. This step is pivotal as we continue to democratize onchain data access. The future is exciting, and this is just the beginning.”
Unlocking the Potential of Onchain Data
The Base expansion encompasses not only Base but also other L2 solutions, incorporating technical optimizations like Optimism Stack integration. This initiative will amplify participation opportunities for Snapshotters in various data markets throughout the Base ecosystem. Snapshots, onchain data points gathered by Snapshotter Lite Nodes, primarily focus on DEX token pairs/pools such as the USDC-ETH pair on platforms like Uniswap (V2) and Aave.
Snapshotters form the backbone of the Powerloom ecosystem, collecting data from the blockchain and multiple onchain data markets. The Lite version of the Node is designed to be user-friendly, demanding minimal technical expertise. In the past 30 days, Powerloom’s network has generated an impressive 250 million snapshots, with a daily increase approaching 10 million snapshots. This growth highlights the extensive scale and influence of Powerloom’s operations.
Powerloom stands as the preferred source for large, scalable, and reliable datasets, ideal for creating comprehensive data products like dashboards. The network participants uphold integrity and reliability, ensuring the accuracy of every data piece. Powerloom’s data markets effortlessly integrate pre-computed, validated, and readily consumable APIs for DeFi protocols and smart contracts across any use case.
With plans to further expand its reach to Base and other L2 solutions, implement technical optimizations, and enhance data market participation, Powerloom is poised to lead in the blockchain data infrastructure domain. It serves the evolving data requirements of smart contract-based applications, including DeFi, GameFi, and NFTs. The platform incentivizes peers to achieve consensus on state transitions and event emission observations across various smart contracts.
Powerloom unlocks the potential of onchain data, empowering developers to construct intricate dashboards, intelligent bots, advanced aggregators, and insightful trackers with data integrity and adaptability. Each data point within every dataset produced by Powerloom is peer-validated, consensus-backed, and available on IPFS for complete transparency and trust.