Powerloom, a groundbreaking composable data network that enables protocols to index and query blockchain data in a decentralized manner, has announced its expansion into the Base ecosystem. This strategic move coincides with the company’s celebration of surpassing 5,200 Snapshotter Lite nodes, underscoring its commitment to delivering actionable on-chain data across both Layer-1 (L1) and Layer-2 (L2) -networks.
Powerloom’s integration with Base, an Ethereum Layer-2 scaling solution incubated by Coinbase, represents a game-changing opportunity for Base users. It introduces the ability to create a data node, which gives users a unique opportunity to contribute to and benefit from onchain data. Powerloom’s one-click installation for Snapshotter Lite Nodes simplifies participation by eliminating the need for specialized infrastructure.
Commenting on this important milestone, Swaroop Hegde, Co-Founder of Powerloom, said: “Achieving over 5,200 Snapshotter Lite nodes is a milestone that signifies confidence and growth in Powerloom’s mission. As we expand into the Base ecosystem, we’re growing from a technical perspective and building the community. This step is critical as we continue to democratize on-chain data access. The future is exciting, and this is just the beginning.”
Unlocking the potential of Onchain data
The Base extension includes not only Base, but also other L2 solutions, with technical optimizations such as Optimism Stack integration. This initiative will expand participation opportunities for Snapshotters in various data markets in the Base ecosystem. Snapshots, onchain data points collected by Snapshotter Lite Nodes, primarily focuses on DEX token pairs/pools such as the USDC-ETH pair on platforms such as Uniswap (V2) and Aave.
Snapshotters are the backbone of the Powerloom ecosystem, collecting data from the blockchain and multiple onchain data marketplaces. The Lite version of the Node is designed to be user-friendly and requires minimal technical expertise. Over the past 30 days, Powerloom’s network has generated a staggering 250 million snapshots, with a daily increase of nearly 10 million snapshots. This growth highlights the expanded scale and influence of Powerloom’s operations.
Powerloom is the preferred source for large, scalable, and reliable data sets, ideal for creating comprehensive data products such as dashboards. The network participants maintain integrity and reliability and guarantee the accuracy of each piece of data. Powerloom’s data marketplaces effortlessly integrate precomputed, validated, and easy-to-use APIs for DeFi protocols and smart contracts for any use case.
With plans to further expand its reach to Base and other L2 solutions, implement technical optimizations, and increase participation in the data market, Powerloom is poised to lead the blockchain data infrastructure space. It meets the evolving data requirements of smart contract-based applications including DeFi, GameFi and NFTs. The platform encourages peers to reach consensus on state transitions and event emissions observations in various smart contracts.
Powerloom unlocks the potential of onchain data, allowing developers to build complex dashboards, intelligent bots, advanced aggregators, and insightful trackers with data integrity and customizability. Every data point within every dataset produced by Powerloom is peer-validated, consensus-based, and available on IPFS for complete transparency and trust.