Learn Covalent With easy-to Understand Language
Covalent is a project that makes it easy for developers to build apps using blockchain data. Blockchains are like public databases that anyone can view and add to. They store information about transactions, account balances, smart contracts, and more.
Covalent solves this by creating a unified API. API stands for Application Programming Interface. It's like a translator that takes complicated blockchain data and turns it into a simple format that apps can understand.
Covalent has indexed the entire Ethereum blockchain and stored the data in an organized way in their database. Their API lets developers make simple requests to get any blockchain data they need.
For example, let's say I'm building a portfolio tracking app. I want to show users their balances across different wallets and platforms. Without Covalent, I'd need to write complex code to scan the blockchain and add up balances.
With Covalent's API, I can just make a simple request like "get me all the token balances for address XYZ". Covalent handles all the blockchain data wrangling behind the scenes and returns me a nice clean response I can display in my app!
This makes it super fast and easy for developers to build powerful blockchain apps. Apps like crypto wallets, NFT galleries, analytics tools, and more are all powered by Covalent's data!
Covalent started by supporting Ethereum, but now provides data from over 120+ different blockchains. Their goal is to be the go-to blockchain data provider for all developers.
In the future, Covalent plans to decentralize their network. This means anyone will be able to help store and serve the blockchain data, and earn rewards in crypto tokens!
This will make Covalent even faster, more reliable, and censorship-resistant. No more centralized points of failure.
So in summary, Covalent takes the hard work out of using blockchain data. Their API unlocks the power of public blockchains for developers around the world. Pretty cool for a project started just a few years ago!
With easy access to organized blockchain data, developers can focus on building awesome apps instead of wrestling with blockchain infrastructure. The possibilities are endless!