VANCOUVER, March 23rd, 2021 - Covalent is delighted to announce a technical partnership with Fantom, a high-performance, scalable, customizable, and secure smart-contract platform.
Founded in 2018, Fantom is designed to overcome the limitations of previous-generation blockchain platforms. Fantom is permissionless, decentralized, and open-source while achieving fast finality (1-2 second transaction confirmation) and low fees ($0.00001). Furthermore, Fantom is EVM-compatible.
When examining how to overcome the data accessibility issue on blockchain networks, Fantom knew a best-in-class API would be needed given that builders require such when developing applications. By integrating Covalent’s indexing solution, developers will be able to pull Fantom blockchain data seamlessly. This includes:
- Token balances per address
- Historical transactions per address
- Historical prices by address and ticker symbol
- Decoded log events
Querying the Fantom blockchain will be as simple as changing one parameter on the Covalent API; chainId. Also, integrating with Covalent allows builders from the Ethereum ecosystem to re-purpose their technology for Fantom.
Quote from Michael Kong, Fantom CEO
Quote from Ganesh, Covalent CEO
Founded in 2018, The Fantom Foundation has built a highly scalable blockchain ecosystem that facilitates decentralized, scalable, and secure technologies.
Fantom is a fast, scalable, and secure layer-1 platform built on a permissionless aBFT consensus protocol. The speed, low transaction costs, and high throughput make Fantom ideal for DeFi applications and real-world uses.
Many Ethereum protocols are porting over to Fantom to create a seamless cross-chain ecosystem. These include Keep3rV1, Cover, Cream, Frax, Sushiswap, Yearn, and others. The technology is also used in several government digitization programs in the Middle East.
Covalent leverages big-data technologies to create meaning from hundreds of billions of data points, delivering actionable insights to investors and allowing developers to allocate resources to higher-utility goals within their organization. Instead of pain-stakingly sourcing data from a small handful of chains, Covalent aggregates information from across dozens of sources including nodes, chains and data feeds. The Covalent API then sources end users with individualized data by wallet, including current and historical investment performance across all types of digital assets. Most importantly, Covalent returns this data in a rapid and consistent manner, incorporating all relevant data within one API interface.