Powerloom Expands to Base Ecosystem Following the Success of 5,200+ Snapshotter Lite Nodes

FinanceFeeds Editorial Team

Powerloom is enhancing blockchain data accessibility with its expansion into the Base ecosystem and the introduction of over 5,200 Snapshotter Lite nodes.

Powerloom, a network designed for composable data, that facilitates the indexing and querying of blockchain data in a decentralized way, has announced its expansion into the Base ecosystem. This development is marked by the launch of the first node mint on Base, an Ethereum Layer-2 scaling solution developed with support from Coinbase. This expansion is celebrated alongside the achievement of successfully minting over 5,200 Snapshotter Lite nodes, underscoring Powerloom’s dedication to enhancing actionable on-chain data across both Layer 1 and Layer 2 networks.

With this strategic move to Base, Powerloom is introducing the first opportunity for Base users to mint data nodes, creating a new avenue for engagement with on-chain data. This expansion is poised to redefine data capture and utilization within the Base ecosystem, highlighted by the simplicity of Powerloom’s one-click setup for Snapshotter Lite Nodes, which obviates the need for dedicated infrastructure and significantly eases participation.

Swaroop Hegde, Co-founder of Powerloom, emphasized the significance of this development, stating, “Achieving over 5,200 Snapshotter Lite nodes is a testament to the trust and growth in Powerloom’s mission. Our expansion into the Base ecosystem represents a technological and community growth milestone. This step is crucial as we continue to make on-chain data access more democratic. We are only at the beginning of an exciting journey.”

The expansion includes technical optimizations and the integration of solutions like the Optimism Stack, along with offering enhanced participation opportunities for Snapshotters in various data markets within the Base ecosystem.

Snapshots and Data Markets

Snapshots represent on-chain data points collected by Snapshotter Lite Nodes from a variety of data markets, primarily focusing on DEX token pairs/pools such as the USDC – ETH pair on platforms like Uniswap (V2) and Aave. These Snapshotters form the cornerstone of the Powerloom ecosystem, capturing valuable data from the blockchain and on-chain data markets. The Lite version of the Node is designed to be accessible and requires minimal technical expertise.

Over the last month, Powerloom’s network has generated more than 250 million snapshots, with a daily output increasing to around 10 million snapshots. This highlights the scale and impact of its operations.

Powerloom has become the primary source for extensive, scalable, and trustworthy data sets, ideal for developing rich data products such as dashboards. The integrity and reliability of network participants ensure the accuracy and thorough validation of each data piece, offering developers a solid foundation for building applications with confidence. Powerloom’s data markets offer pre-computed, validated, and easily accessible APIs for DeFi protocols and smart contracts, catering to various use cases.

As Powerloom continues to expand its capabilities and ecosystem partnerships, the future looks bright. With plans to extend its reach further into Base and other Layer 2 solutions, alongside technical enhancements and increased participation in data markets, Powerloom is poised to remain a leader in the blockchain data infrastructure sector.

About Powerloom

Powerloom is recognized as a leading protocol for on-chain data, addressing the dynamic data requirements of applications based on smart contracts, including DeFi, GameFi, NFTs, and more. The platform encourages peer participation to achieve consensus on state transitions and event emissions across numerous smart contracts. By unlocking the potential of on-chain data, Powerloom enables developers to create sophisticated dashboards, smart bots, advanced aggregators, and insightful trackers with a focus on data integrity and adaptability. Each data point in Powerloom’s datasets is peer-validated, consensus-backed, and available on IPFS, ensuring unparalleled transparency and trust.

 

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