Kovalent is teaming up with Flare, a Layer 1 blockchain

by Arthur · March 1, 2023

Covalent, a Web3 data provider, makes the official announcement that they have formed a partnership with Flare. This was achieved to improve the blockchain analytics solutions. For the uninitiated, Covalent is a Web3 data provider that connects to over 40,000 developers. It also optimizes data for more than 5,000 applications.

To expand the possibilities, it is necessary for developers of dApps and other blockchain projects to connect to a more diverse pool of data. This is adequately addressed by Covalent’s chain analysis, which will rely on the vast amount of standardized and consumable Web3 data points.

Through this collaboration with Flare, Covalent will provide developers looking to create real-time applications, especially those designed to work with Web2 and Web3 components, better data points. Flare’s design modules help developers get decentralized connectivity with high-integrity data from various chains and the Internet. Developers are offered data and a stack to create new interoperable dApps that ensure smooth flow of assets, information and liquidity among all chains.

According to Covalent CEO Ganesh Swami, they intend to continue to be the richest blockchain data platform on the internet. He believes this will be made possible by merging potential ecosystems, such as Flare. This will help to provide a complete sequence of necessary data points. They also intend to continue to support the development of these upcoming ecosystems and increase their value for the sake of Web3 builders.

Through this collaboration, Covalent will also collect analyzes from Flare’s canary network’s main network and the Songbird test network. Songbird users have a rich ecosystem of hyper-focused activity data, which will now be made available using Covalent.

Hugo Philion, CEO and co-founder of Flare, has ambitions to offer a wider variety of time series data streams, including commodity prices, real-time events and Web2 API outputs. This will help consumers by offering new use cases. In addition, he is investigating the possibility of integrating their interoperability protocols into Covalent’s Unified API. Covalent’s data collection technique provides latency to retrieve the latest data, effective breadth spanning over 80 blockchains and other sources, and significant depth. This enhances the functionality of Web3 data and provides users with the most advanced standard of analysis.

As an entity, Flare is an EVM-based Layer 1 blockchain, which provides developers with decentralized connectivity with high-integrity data from various chains and the Internet. Flare’s State Connector Protocols offer information from different blockchains and the internet that can be used in a secure, scalable and trustless way with smart contracts on Flare. The Flare suite from Oracle provides highly decentralized pricing and data flows to dApps on Flare.

Covalent provides a high-quality unified API that provides access to an abundance of Web3 data points. With data from more than 93 blockchains, developers and researchers can create multi-chain applications such as crypto wallets, NFT galleries and investor dashboard tools. It boasts of serving a community of over 40,000 builders and boosting data for over 5,000 applications.