The first node built on Base, an Ethereum Layer-2 scaling solution developed by Coinbase, marks Powerloom’s entry into the Base ecosystem. Powerloom is a leading composable data network that allows protocols to index and query blockchain data in a decentralized way. In keeping with its mission to provide actionable onchain data throughout the L1 and L2 networks, Powerloom is celebrating the minting of over 5,200 Snapshotter Lite nodes, which is a noteworthy milestone that coincides with the Base expansion.
With Powerloom’s strategic integration to Base, users now have the first chance to mint a data node, providing a fresh option to contribute to and profit from onchain data. The expansion will influence how data is collected and used across the Base ecosystem, particularly with Powerloom’s one-click Snapshotter Lite Node setup that greatly reduces participation effort and does away with the requirement for specialized infrastructure.
Swaroop Hegde, the Co-founder of Powerloom, said:
“Reaching over 5200 Snapshotter Lite nodes is a milestone that signifies trust and growth in Powerloom’s mission. As we expand into the Base ecosystem, we’re growing from a tech standpoint and building the community. This step is pivotal as we continue to democratize onchain data access. The future is exciting, and this is just the beginning.”
With technological advancements like the integration of the Optimism Stack and improved opportunities for Snapshotters to participate in diverse data marketplaces across the Base ecosystem, the Base expansion encompasses Base and additional L2 solutions.
Snapshots and Data Markets
Snapshots are onchain data points that are collected from various data marketplaces across the ecosystem by Snapshotter Lite Nodes. These snapshots are mostly focused on DEX token pairs/pools, such as the USDC – ETH pair on DEXes like Uniswap (V2) and Aave. The core of the Powerloom ecosystem are snapshotters, which gather data from the blockchain and several onchain data markets. The Node’s Lite version is designed to be user-friendly and needs little technical knowledge.
Powerloom’s network produced almost 250 million snapshots in the previous 30 days alone, and its daily output rises to over 10 million, demonstrating the scope and significance of its activities.
For huge, scalable, and reliable data sets—perfect for creating sophisticated data products like dashboards—Powerloom is the go-to source. VAssuring that every piece of data is precise, properly vetted via consensus-backed computation, and further validated so developers may build with confidence, the network participants uphold integrity and dependability. Pre-computed, validated, and easily consumable APIs for the DeFi protocols and smart contracts are smoothly integrated into Powerloom’s data markets for every use case.
With Powerloom growing its ecosystem alliances and capabilities, the future is bright. Powerloom is well-positioned to lead in the blockchain data infrastructure field with ambitions to expand its reach to Base and other L2 solutions, technological improvements, and enhanced data market involvement.
