Covalent Achieves Milestone of 100 Billion Transactions Deciphered for AI Accuracy and Long-Term Data Availability
In the ever-evolving realm where blockchain intersects with artificial intelligence, conversations typically center around decentralized inference and training. However, the crucial element of data integrity often goes unnoticed. The burning question remains: how can we prevent biases and manipulation in AI models? Covalent Network tackles this issue head-on by offering the largest repository of structured, verifiable data, ensuring that AI systems are trained on dependable, credible information. By supplying clean, trustworthy data, Covalent Network guarantees that AI systems can make precise and impartial decisions, thus nurturing the growth of robust applications.
Covalent Network utilizes a distinct, decentralized data pipeline that structures and cryptographically secures every historical blockchain data point from over 225 blockchains. Having semantically decoded and classified over 100 billion transactions, Covalent Network boasts meticulous accuracy in its data management. This comprehensive methodology has enriched 300 million wallets so far, establishing Covalent as the go-to solution for all Web3 data requirements.
The Significance of Decentralized Data in AI
Unlike conventional databases, blockchains act more like temporary billboards that display information before it is permanently erased. For instance, Ethereum blob data disappears after two weeks, a practice mirrored in projects like Eigenlayer and Celestia. This poses a major challenge: how can we ensure that verifiable data remains secure and accessible in the long term? Covalent Network’s Ethereum Wayback Machine offers a solution by preserving historical Ethereum data and safeguarding it against deletion, thus upholding the blockchain’s integrity and security.
Empowering Diverse Applications with Reliable Data
As the premier modular data infrastructure layer dedicated to addressing Long-Term Data Availability and verifiability in AI, the Ethereum Wayback Machine extracts data from blockchain nodes and organizes it into an efficient query database. This enables users to swiftly retrieve essential data without complex queries directly from blockchain nodes.
Covalent Network caters to a broad spectrum of projects, from DeFi applications to traditional financial behemoths, with notable clients such as 0x, Zerion, Rainbow Wallet, Consensys, and many others. The real-time, authentic, and decentralized nature of on-chain data positions the Ethereum Wayback Machine as a top-tier data source for AI training. Covalent Network has commenced supplying data for various AI scenarios, launching verifiable, structured data tailored specifically for AI applications.
Enhancing AI Training and Inference
Covalent’s vast repository of structured, verifiable data enhances decentralized training and inference, thereby reducing the risk of manipulated, biased AI models. For instance, Covalent provides data to:
SmartWhales, an on-chain intelligent trading platform that employs AI to identify profitable trading patterns and addresses.
Entendre Finance, which utilizes the EWM’s structured data for real-time insights, anomaly detection, and predictive analysis.
These are just a few instances of how Covalent’s data is utilized. With the expansion of Web3 products and data types, the applications for on-chain data services will continue to grow, opening up new possibilities across various industries.
Covalent’s Vision for AI and Blockchain Integration
Covalent Network’s co-founder, Ganesh Swami, underscores the importance of reliable data for training AI models. He stresses that AI necessitates clean, verifiable data for effective training. Without ensuring the authenticity of input data, even the most sophisticated training systems will yield flawed outcomes. Blockchain’s secure and verified data offers an ideal solution to this challenge.
Covalent Network’s dedication to providing structured, verifiable data extends beyond immediate applications. Their long-term vision involves supporting the evolution of AI by ensuring that decentralized inference and training are rooted in reliable data. This strategy mitigates the risks of biased and manipulated data, fostering the development of resilient AI models.
About Covalent
Covalent stands as the leading modular data infrastructure layer committed to tackling major hurdles in blockchain and AI. Covalent’s extensive repository of structured, verifiable data enhances decentralized training and inference, minimizing the chances of manipulated or biased AI models. Furthermore, Covalent’s Ethereum Wayback Machine ensures decentralized access to Ethereum’s transaction data, ensuring its security. Trusted by over 3,000 prominent organizations, Covalent empowers AI, DeFi, GameFi, and other applications with unrestricted access to on-chain data from over 225 blockchains and counting.
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