I was lucky to become a member of the Covalent Ambassador Alchemist program, as part of the development and promotion of the project, I decided to make a small review referring to https://www.covalenthq.com/docs/
Covalent uses big data technologies in the blockchain. With the help of API keys, Covalent enables any users, even those who do not have special skills, to receive information from the blockchain in just a few moments, and conduct their own analytics on the blockchain.
Covalent was created for enterprises and already cooperates with such companies as Elrond, CasperLabs, ChainGuardiance, etc. helping them to achieve their goals through Covalent technologies, but at the same time, absolutely any user can use the technologies for their own purposes.
Covalent provides a unified API to bring full transparency and visibility to assets across all blockchain networks. Simply put, we have a single API that allows you to pull detailed, granular blockchain transaction data from multiple blockchains with no code.
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The most interesting Covalent use-cases:
Covalent for crypto-wallets. Every single wallet application on Ethereum aggregates data across various DeFi protocols using Covalent.
Covalent helps calculate DeFi taxes. Every single DeFi transaction is a taxable event. The biggest funds in the crypto-space use us to calculate liabilities.
Covalent is the best solution for network analysis. Crypto networks have rich data structures currently inaccessible without a tool like Covalent. The data is used to make better decisions.
What makes Covalent unique?
1. Data availability
We are the only project to fully index entire blockchains — this means every single contract, every single wallet address, and every single transaction. This is billions of rows of data and terabytes of data. Other projects only provide a small subset of the available data or only start collecting data once the appropriate query or filter is set up.
2. Composability
Composability is a critical piece of Decentralized Finance (DeFi) applications and allows developers to quickly and easily construct financial solutions leveraging ‘Lego-like’ building blocks from a multitude of projects.
3. Multi-blockchain support
Multichain is in our DNA. Covalent already indexes and has customers on 7 different blockchain networks with many more to announce soon.
4. No code solution
We believe in no-code solutions for our users. This means no complicated SQL queries, no subgraph development, and maintenance. One API and you are done.
What networks does Covalent support?
Ethereum Indexing & querying API
Polygon/Matic indexing & querying API
Avalanche indexing & querying API
Binance Smart Chain indexing & querying API
Covalent — build for enterprises. Available for all.
