IoTeX announced last Tuesday, December 7, through its Twitter account, its new partnership with Covalent to enable the quality and availability of data for MachineFi. According to the company, Covalent provides a unified API that allows builders to query MachineFi chain data for custom dashboards, analytics and portfolios.
“IoTeX is pleased to announce our new partnership with Covalent, a leading provider of indexing solutions for blockchains. As a partner to nearly all major Layer 1 blockchains, Covalent expands the availability of data for blockchains and Dapps, and simplifies the experience for developers who need high-quality, reliable data. Covalent provides a unified API to provide full transparency and visibility to assets across all blockchain networks. Its dataset supports more than 25,000 million transactions, more than 30,000 price sources and more than 200,000 smart contracts for queries”, he said through an article published on the Medium platform.
Ganesh Swami, CEO of Covalent, commented that “IoTeX is the first EVM IoT blockchain and I believe that the data from your IoT devices on the chain will be revolutionary. Like IoTeX, we strongly believe in the people who own your data devices and your identity. I’m excited to see what the next generation dApps developers will build”.
The company explained that as a layer 1 EVM blockchain that is ultra-fast, low-cost, and compatible with IoT, IoTeX is tailor-made to connect real-world machines to the blockchain, allowing builders to onboard. machine data, value and services in your Dapps. This is exemplified in MachineFi, which seeks to incorporate on-chain verifiable machine data to drive new Web3 financialization opportunities. Unique IoTeX on-chain data will include device identities, device interaction history, and IoT dataset hashes, all of which will be indexed by Covalent and made available to developers.
“We are excited to partner with Covalent to expand the utility of IoTeX machine-on-chain data and bring new analytical capabilities to builders. IoTeX has always prioritized radical transparency and joining forces with partners like Covalent who embed this principle into their products is a perfect match”, said Raullen Chai, co-founder of IoTeX.
Improved data availability for builders
Through this integration, IoTeX is expanding the availability of data on the platform and simplifying the experience for developers who need high-quality, reliable data. With the Covalent API, developers can pull data from the IoTeX backbone. You can access the network through the Unified API by changing the chainId parameter. This seamless experience significantly enhances the IoTeX developer experience. Available blockchain data includes:
• Token balances by address
• Historical transactions by address
• Historical prices by address and ticker symbol
• Decoded log events