Covalent: Covalent Partners With Chainstack to Support Avalanche Subnets
Author

Ganesh Swami

Co-founder, Covalent

Covalent Partners With Chainstack to Support Avalanche Subnets

Mar 22, 2022

TL;DR:

  • Covalent partners with Chainstack to enable developers to create and support Avalanche subnets, custom blockchain networks that serve a variety of project use cases and needs.
  • Covalent will provide a full historical archive of subnet data with all of the features supported by Covalent’s Unified API while Chainstack will provide full infrastructure for any application looking to launch a subnet.
  • A subnet is like an a-la-carte blockchain where projects can set up and build their own custom blockchain with varying levels of permissions and features without investing precious resources typically needed to set up infrastructure and a consensus model.

Why Subnets Matter

Covalent is collaborating with Avalanche and Chainstack to allow users to deploy and run permissioned blockchains on Avalanche’s subnets with the same level of ease and seamless experience that people get with public chains.

The challenge with many applications running on an all-purpose layer 1 blockchain is that this leads to network congestion resulting in lower performance, higher transaction fees, slower mass adoption, and scaling problems.

To solve these challenges, Avalanche enables users to create a subnet, a custom blockchain network that supports a specific application that can handle millions of daily active users. Subnets were designed with the idea that different applications require different features and rules that can be powered by their own “server” dedicated to their application.

Key Benefits of Subnets

  • Subnets are interoperable with other subnets and chains
  • Set up a single purpose blockchain with ease such as private, storage, and timestamp networks
  • Scale easily to your own network
  • Enjoy the benefits of owning the chain and gasless transactions
  • Leverage contract and infrastructure composability
  • Users don’t have to waste precious time and money setting up infrastructure and consensus models to launch their own custom blockchain
  • Dapps running on subnets don’t have to worry about decreased performance from network congestion caused by other applications because they have their own dedicated network

“Avalanche has made huge strides in proving that the future is multi-chain. With subnets allowing anyone to launch a special purpose EVM chain in a matter of days or weeks opposed to months or years it really is a massive push forward which we are excited to support.”–Ganesh Swami, CEO at Covalent

Host your Avalanche subnet on Chainstack with analytics from Covalent

The subnet stack:

  • Avalanche is the fastest smart contracts platform in the blockchain industry and allows users to create subnets.
  • Chainstack is a platform that enables users to deploy, run, and manage their custom network and nodes quickly for Avalanche’s subnets.
  • Covalent’s industry-leading unified blockchain API provides rich, granular data for users hosting their Avalanche subnets on Chainstack.

The possibilities with subnets are endless but these are the most common use cases:

  • Setting up single purpose blockchains including private, storage (SpacesVM), and timestamp (TimestampVM) networks
  • Scale to your own network with layer 2 blockchains while still being part of the Avalanche mainnet such as Crabada’s Swimmer Network
  • Establish legal network requirements such as the geographical location of validators, licensing of validators, and compliance with regulatory checks

Build Faster on Subnets With Covalent’s Unified Blockchain API

Covalent has been providing rich, granular data on the Avalanche chain since March 2021. Covalent’s API enables developers to pull Avalanche mainnet and Fuji testnet data within seconds by simply changing the _chain_ID _parameter.

Developers can extract data in seconds without writing indexing code so they can start building in minutes.

These are just a few of many types of best-in-class data developers can access:

  • Token balances per address
  • Get NFT transactions for contract
  • Historical transactions per address
  • Get all contract metadata

Covalent currently serves 23,000 developers who are creating new use cases every day and have over 1,000 projects using the API.

Deploy, Customize, and Scale with Subnets

Avalanche is a platform made up of thousands of subnets to form a diverse, global, interoperable, and secure network of many blockchains. Because the future is multichain, subnets provide a variety of benefits to serve users with different requirements and features including:

  • Custom dApps
  • Private chains
  • KYC and compliance
  • Convenient bridging back to the main C-Chain

All of these benefits will be supported by Covalent’s Unified API and Chainstack’s node infrastructure.

"Chainstack is committed to supporting the next leg of innovation in the public blockchain networks space, which is Avalanche subnets. Together with Covalent, we are excited to provide to subnet developers the same uniform and smooth experience that thousands of teams are used to relying on. Your custom VMs get the enterprise-grade treatment with us for infrastructure and the high-level reliability and data-granularity with Covalent.”–Eugene Aseev, CTO and Founder at Chainstack.

Host Your Avalanche Subnet

About Chainstack

Chainstack allows developers to deploy and sync their nodes in minutes while taking care of node management and operations. Developers and builders in Web3 and DeFi who want to run high-performing projects on Avalanche use Chainstack to deploy Avalanche nodes easily in a cost-effect way without needing to invest time and resources in setting up enterprise-grade infrastructure.

About Avalanche

Avalanche is the fastest smart contracts platform in the blockchain industry, as measured by time-to-finality. Avalanche is blazingly fast, low cost, and eco-friendly. Any smart contract-enabled application can outperform its competition by deploying on Avalanche.

Avalanche Technology:

  • High Performance: Finalizes transactions in about a second and clears thousands per second, enabling decentralized finance applications to reach their full potential.

  • Secure: Scale to thousands of nodes, making it a truly decentralized protocol that avoids the centralization risks of most blockchain networks to-date.

  • Customizable: Each blockchain launched on Avalanche can define its own core logic and validator set. This means compliance and privacy by default.

About Covalent

Covalent provides the industry-leading Unified API bringing visibility to billions of Web3 data points. Developers use Covalent to build exciting multi-chain applications like crypto wallets, NFT galleries, and investor dashboard tools utilizing data from 40+ blockchains. Covalent is trusted by a community of 30,000+ developers and powers data for 3000+ applications including 0x, Zerion, Rainbow Wallet, Rotki, Bitski and many others.

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