Covalent, a leading multichain indexer in the blockchain industry, is announcing an integration with Blast, a unique layer-2 scaling solution, to address scalability challenges on the Ethereum network. With support for over 225 blockchains and enrichment of over 240 million wallets through Covalent’s Unified API, Blast can leverage this data to optimize its L2 solution and meet the evolving scalability needs of Ethereum. Covalent is known for being a decentralized data availability network widely used in Artificial Intelligence, DeFi, and various data-based applications. By indexing the complete historical state history of Ethereum and other chains, Covalent transforms vast amounts of data into a standardized, interoperable format accessible to developers through its Unified API.
Through access to Covalent’s API, Blast can tap into real-time and historical blockchain data, enabling the development and deployment of scalable solutions on its L2 network. Blast utilizes optimistic rollups technology to increase Ethereum transaction throughput, reducing network congestion and making decentralized applications more affordable for users. With its unique model of native yield, Blast stands out among other L2 networks on Ethereum, allowing users to generate passive income by holding ETH and stablecoins like USDC, USDT, and DAI. This feature encourages engagement in DeFi, gaming, SociaFi, and NFT collections while earning native rewards, facilitated by an auto-rebasing mechanism and collaborations with real-world asset protocols.
According to David Tso, Growth & Customer Success Lead at Covalent, Blast’s inventive approach sets it apart in the realm of L2 solutions. Blast’s model of native yield enables it to provide users with UX optimizations such as free gas and free swaps. The collaboration between Covalent and Blast represents a significant step towards addressing Ethereum’s scalability challenges and promoting innovation in the blockchain ecosystem. By combining Covalent’s robust data infrastructure with Blast’s native yield model, developers and users can expect improved scalability, accessibility, and user experience across various decentralized applications, ultimately leading towards a more inclusive and efficient decentralized future.
Covalent serves as the home for Web3 data, enabling millions of users to participate in the new economy of products in AI, Big Data, and DeFi. With a focus on democratizing access to structured data, Covalent offers a Unified API for developers, analysts, innovators, and customers, providing comprehensive, real-time data access to over 225 blockchains. The collaboration between Covalent and Blast demonstrates a commitment to building a more inclusive and efficient decentralized future by leveraging technology to address scalability challenges and enhance user experience within the blockchain ecosystem.
Blast L2, developed by the Blur_io team, is a layer-2 scaling solution designed specifically for the DeFi and digital asset ecosystem. Offering a seamless and efficient experience for users and developers in the DeFi landscape, Blast stands out for its native yield capabilities for both ETH and stablecoins. With a focus on providing passive income opportunities for users through engagement in various decentralized applications, Blast aims to contribute to the growth and innovation of the DeFi space. Joining forces with Covalent, Blast seeks to enhance scalability, accessibility, and user experience, paving the way towards a more inclusive and efficient decentralized future for the blockchain ecosystem.
