Covalent Network Overview
The Covalent Network serves as the universal data model for multi-chain indexing and querying.
The Covalent Network represents the progressive decentralization of Covalent toward a community-owned and community-run protocol.
The Covalent Network will have the following capabilities:
- Big data tools compatible
- Multi-chain compatible
- Storage efficient
- Network efficient
- Low resource intense to run on commercial / retail infra
Built for Modularity and Extensibility
A multi-sided platform designed to eventually be self-sufficient, the Covalent Network works by capturing and indexing blockchain data and storing it across multiple points on the network. Anyone can then access this data instantly through querying the unified Covalent API.
The supply side consists of both blockchains and the network operators. Both play a critical role in the Covalent Network. For one, blockchains are the source of the data the network is interested in. More blockchains that the Covalent Network indexes, more data thats flows through it. Meanwhile, network operators, who can assume one or multiple roles in the network, are the workers who are rewarded in this process; from extracting granular and historical blockchain data, to refining and indexing it and all the way to returning API queries on the indexed data.
The demand side consists of protocols, developers, analysts and everyone in between who uses the unified Covalent API to power a plethora of use cases. The greater number of API queries, the greater demand that exists on the Covalent Network.
There are other stakeholders involved beyond blockchains, network operators and API users. There are the delegators; those who wish to secure the Covalent Network through delegating their CQT to a network operator. And then there are those who vote on Covalent Network Improvement Proposals via the governance forum. Together all the roles work in tandem to bring multi-chain data utilities and services to anyone who participates in the Covalent Network.
Network Operator Roles
Check out data being pulled in realtime to the Covalent database
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