Powerloom Announces Expansion to Base as It Surpasses 5200 Snapshotter Lite Nodes

Powerloom, a leading composable data network that enables protocols to index and query blockchain data in a decentralized manner, today announces its expansion to the Base ecosystem by introducing the first node mint on Base, an Ethereum Layer-2 scaling solution incubated by Coinbase.

The Base expansion comes as Powerloom celebrates the successful minting of over 5,200, marking a significant milestone in its commitment to providing actionable on-chain data across the L1 and L2 networks.

Powerloom’s strategic extension to Base heralds the first opportunity for Base users to mint a data node, offering a novel pathway to contribute to and benefit from on-chain data. The expansion will shape how data is captured and utilized across the Base ecosystem, especially with Powerloom’s one-click setup for Snapshotter Lite Nodes, which eliminates the need for dedicated infrastructure and significantly simplifies participation.

Swaroop Hegde, the Co-founder of Powerloom, said, “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 on-chain data access. The future is exciting, and this is just the beginning.”

The Base expansion includes Base and other L2 solutions, with tech optimizations such as the Optimism Stack integration and enhanced participation options for Snapshotters in various data markets across the Base ecosystem.

Snapshots and Data Markets

Snapshots are on-chain data points captured by Snapshotter Lite Nodes from diverse data markets within the ecosystem, mainly focusing on DEX token pairs/pools like the USDC – ETH pair on DEXes like Uniswap (V2) and Aave.

Snapshotters are the backbone of the Powerloom ecosystem, capturing data from the blockchain and various data markets on-chain. The Lite version of the Node is tailored to be user-friendly and requires minimal technical experience.

In the last 30 days alone, Powerloom’s network generated over 250 million snapshots, with a daily increase to approximately 10 million snapshots, underscoring the scale and impact of its operations.

Powerloom is the go-to source for large, scalable, and credible data sets, ideal for building rich data products like dashboards. The network participants maintain integrity and reliability, ensuring every piece of data is accurate, thoroughly validated in consensus-backed computation, and further validated so developers can build with peace of mind. Powerloom’s data markets seamlessly integrate pre-computed, validated, and readily consumable APIs for the DeFi protocols and smart contracts for any use case. 

The future looks promising as Powerloom expands its capabilities and ecosystem partnerships. With plans to broaden its reach to Base and other L2 solutions, technical optimizations, and increased data market participation, Powerloom is well-positioned to lead in the blockchain data infrastructure space.

About Powerloom

Powerloom is a leading on-chain data protocol that serves the evolving data needs of smart contract-based applications like DeFi, GameFi, NFTs, and more. The platform incentivizes participating peers to reach a consensus on state transitions and event emissions observations across many smart contracts.

Powerloom unlocks the power of on-chain data, enabling developers to build complex dashboards, smart bots, advanced aggregators, and insightful trackers with data integrity and adaptability. Every data point in every dataset generated by Powerloom is peer-validated, backed by consensus, and present on IPFS for complete transparency and trust.

Learn more: powerloom.io/

Mint site: https://mint.powerloom.network/

Contact: Samuel Del Real, [email protected]