The Covalent Network cryptographically secures a structured dataset comprised of over +215 blockchains from their genesis blocks, with over 100 billion transactions semantically decoded and classified, no matter how complex. This includes both fungible and non-fungible tokens (NFTs), DEX interactions, balances, and more for every single address in a cleaned, structured and scalable format: all ready for AI model consumption, training and product creation.
The launch of ChatGPT and other large language model (LLM) applications have taken the world by storm, capturing the imagination of users, businesses, and investors alike. Builders across all industries are scrambling to make sense of what this technological leap implies for them, and how they can implement it to position themselves for the future. The blockchain/web3 space is certainly no different, and participants are experimenting with everything from decentralized training to the use of joined blockchain data to power novel use cases.
Covalent Rich Blockchain Data Availability for AI
Artificial intelligence/machine learning has always relied on massive sets of structured data, and the latest LLM paradigm is no different. AI’s incredible potential to transform industries and enhance our daily lives hinges on the quantity and quality of this data. This is where the intersection of AI and Web3, powered by Covalent, comes into play.
This Covalent dataset continuously updates and grows with each block, and each new chain indexed. Thousands of web3-specific applications consume this data today, but with the latest hype around AI, there is a whole new class of developers interacting with Covalent that will deliver exciting new use cases.
AI and Covalent Use Cases
AI and Covalent have already joined forces, pioneering new frontiers and driving innovation across multiple crypto projects. Let’s explore a few examples:
Nomis.cc: Multichain Identity and Reputation Protocol
Nomis.cc leverages users’ on-chain activity and employs machine learning-powered mathematical modeling technologies to assign reputation scores to users’ wallets. By utilizing Covalent’s extensive historical data, Nomis.cc can make reputation scores more versatile and accurate, catering to a broader range of Web3 verticals. The wealth of data available through Covalent empowers users and Web3 projects to leverage wallet reputation data for accelerated growth.
Network3: Decentralized Computing Revolution
Network3 is redefining computing with decentralized power, emphasizing security, transparency, and efficiency. With Covalent’s support, Network3 can create custom data models, enabling more granular insights into network performance and user interactions. This transformation is bringing sustainable, trustless, and scalable computational solutions to the forefront.
Echooo: Next-Generation Account Abstraction (AA) Smart Contract Wallet
Echooo is combining secure multi-party computation (MPC) and AI techniques to create a next-generation AA smart contract wallet powered by ERC-4337. Covalent provides Echooo with full structured replicas of all historical on-chain data, facilitating secure and intelligent decision-making within the wallet. This is a glimpse into the future of AI-powered decentralized finance.
StationX.network: Automating On-Chain Community Workflows
StationX is a protocol automating workflows for on-chain communities. With Covalent’s support, StationX can create custom data models, streamlining the collection of contributions, issuance of ERC20/NFT-based membership tokens, and automation of day-to-day operations. This empowers on-chain communities to operate more efficiently and transparently.
CQT’s Big Data for Big Models
Covalent’s extensive data solution covers nearly every use case imaginable with Web3 data. As AI applications mature and begin flourishing, Covalent will play a pivotal role in powering the models that drive innovation, enhance security, and provide valuable insights into the Web3 world.
Covalent’s commitment to providing a comprehensive and accessible database of blockchain data places it at the intersection of Web3 and AI, making it an indispensable resource for developers, businesses, and users alike. As the Web3 landscape continues to evolve, Covalent and AI will remain a dynamic duo, shaping the future of technology and empowering an AI-driven Web3 revolution.
With Covalent as the enabler, the future is boundless, and the possibilities are endless.