About the Project
Covalent leverages big-data technologies to create meaning from hundreds of billions of data points, delivering actionable insights to investors and allowing developers to allocate resources to higher-utility goals within their organization. Instead of pain-stakingly sourcing data from a small handful of chains, Covalent aggregates information from across dozens of sources including nodes, chains and data feeds.
The Covalent API then sources end users with individualized data by wallet, including current and historical investment performance across all types of digital assets. Most importantly, Covalent returns this data in a rapid and consistent manner, incorporating all relevant data within one API interface.
About the Integration
Moonbeam is both compatible and interoperable with Ethereum. It greatly simplifies the development of Polkadot-based blockchain applications as compared to implementing a full parachain or parathread which Covalent decided to make Moonbeam the settlement layer for the Covalent network.
In addition to using Moonbeam as the settlement layer, the Covalent Network will also be providing a full indexing solution for both Moonbeam and Moonriver. Anyone looking to query on chain data in the exact ways provided to other chains noted in the Covalent knowledge base.