Covalent

Covalent

CQT
$0.154533245%3.45

Key Metrics

Price$0.154533245
Real Volume (24H)$1,034,541.69
Marketcap$124,665,582.3
Fully Diluted Valuation$100,000,000
ATH$2.08
ATH Date8/14/2021, 8:30:40 AM
ATL$0.051932
ATL Date8/2/2022, 2:38:54 AM
Circulating Supply453M
Total Supply1B
WebsiteN/A
WhitepaperN/A
Popularity Rank376
Chart
What is Covalent?

Covalent (CQT) is a revolutionary open-source network that aims to provide developers and businesses with a comprehensive, accurate, and up-to-date view of the blockchain ecosystem. The platform is designed to be a one-stop shop for blockchain data, allowing developers to easily access and use data from leading blockchains such as Avalanche, Binance Chain, Ethereum, and Polygon.

One of the key features of the Covalent network is its ability to provide complete visibility of entire blockchains, with data being indexed, decoded, and made available for developers to use. Additionally, the network supports multiple blockchains, making it possible for developers to create multichain applications such as crypto wallets, NFT galleries, and user dashboard tools that utilize data from other blockchains.

Another important aspect of the Covalent network is its marketplace for use-cases, where developers can create and list their API endpoints. This allows developers to monetize their applications by selling access to their data and services. Additionally, the network is designed to be approachable to non-technical users, with no coding required to use the platform.

The Covalent network also provides enriched, decoded data in a format that developers can use immediately, making it easy for them to incorporate blockchain data into their applications. Additionally, the network utilizes a decentralized indexing-query middleware, which allows for fast and efficient querying of data.

The Covalent network utilizes the CQT token, which is an ERC-20 token running on the Ethereum blockchain. The token is used for governance, staking assets, and as an infrastructure currency on the network. CQT token holders can vote on proposals to change system parameters, and the token is also used as a reward for fulfilling query requests on the platform.

Covalent was founded by Ganesh Swami and Levi Aul in 2017, with the platform releasing its whitepaper in April 2021. The whitepaper outlined the platform's goal of issuing a maximum of 1 billion CQT tokens at genesis. In its first year of operation, the Covalent network executed two governance proposals and sponsored 20 hackathons.

Covalent (CQT) is a revolutionary open-source network that aims to provide developers and users with easy access to aggregated data from the leading blockchains. The platform is designed to be a one-stop shop for blockchain data, where developers can easily access a complete, accurate, and timely overview of the blockchain ecosystem. With Covalent, developers can build multichain applications such as crypto wallets, NFT galleries, and user dashboard tools utilizing data from other blockchains.

The Covalent network provides a unified application programming interface (API) software, which enables developers to easily access and use data from various blockchains. With the API, developers can create and list their API endpoints on the Covalent marketplace, making it easier for other developers to use their services. The platform is also designed to be approachable to non-technical users, with no coding required.

One of the key features of Covalent is its ability to provide complete visibility of entire blockchains' data. This means that all data can be indexed, decoded, and made available for developers to use. Additionally, the platform supports multiple blockchains, allowing developers to work across different platforms. The Covalent network also provides enriched decoded data, in a format that developers can immediately use.

The Covalent network utilizes the CQT token for various purposes. CQT is the native token of the network and follows the standards of the ERC-20 token running on the Ethereum blockchain. The token is used for governance, staking assets, and as an infrastructure currency. CQT token holders can cast votes on proposals to change the system parameters, acting as a proof-of-stake governance token. Additionally, the token is used as a reward for fulfilling query requests on the Covalent platform.

The Covalent network was launched in 2017 by Ganesh Swami and Levi Aul. In April 2021, a team of experts in finance, blockchains, databases, and distributed systems released the Covalent whitepaper. The whitepaper suggested that the platform would issue a maximum of 1 billion CQT tokens at genesis. As per the 2021 annual report of the Covalent, the platform executed two governance proposals and sponsored 20 hackathons.

In conclusion, Covalent (CQT) is a revolutionary open-source network that provides a one-stop shop for blockchain data. The platform aims to make it easier for developers to access and use data from various blockchains, providing a unified API software and a marketplace for use-cases. CQT token is the native token of the network, it is used for governance, staking assets, and as an infrastructure currency. With Covalent, developers can build multichain applications and users can access easily to the blockchain ecosystem.

Disclaimer

The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.

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