Powerloom Achieves Milestone with 1 Billion New Data Points
Powerloom, a cutting-edge data layer for onchain applications, has reached a significant milestone by acquiring over 5300 Snapshotter nodes, resulting in a total of 1 billion new data points. This achievement marks a major milestone for the platform since its launch in February of this year.
The Snapshotter nodes play a crucial role in recording event emissions and state changes, compiling them into real-world datasets. This development greatly enhances decentralized applications (dApps) by providing users with a seamless and efficient experience.
Powerloom Drives Adoption in DeFi, NFTs, and GameFi
Powerloom emphasizes the importance of a robust decentralized infrastructure for the mainstream adoption of decentralized finance (DeFi), non-fungible tokens (NFTs), and GameFi. The platform believes that a strong decentralized infrastructure is essential for facilitating truth verification, capital flow, and social interactions. By offering practical and contextual data relays, Powerloom aims to empower dApps to deliver unmatched user experiences without compromising on speed or accuracy.
In preparation for the mainnet launch scheduled for January 2025, Powerloom’s growing user and developer interest in verifiable, accurate, high-quality, and real-time datasets is evident. The platform enables user apps to operate seamlessly without relying on external indexers or oracles, leveraging its real-time dataset synchronization.
Facilitating Access to Transparent and Real-Time Data
Powerloom ensures data accuracy through a transparent consensus mechanism and commits data points to IPFS, using CIDs as unique identifiers. By synchronizing datasets with onchain blocks for real-time updates, the platform enables NFT platforms, GameFi apps, and DeFi protocols to access and utilize data points directly. This eliminates the risk of smart contracts and apps operating on outdated information.
Swaroop Hegde, co-founder of Powerloom, expresses excitement over the platform’s milestone of 1 billion new data points during the testnet phase. He highlights the decentralized infrastructure’s strength and the upcoming launch of $POWER, the platform’s utility token, which is expected to benefit early adopters and ecosystem participants. As Powerloom approaches its mainstream launch, the platform aims to provide a rewarding, transparent, and secure environment for users.
