Powerloom Launches on Base, Surpasses 5200 Snapshotter Lite Nodes

Twitter icon  •  Published 2 weeks ago  •  Nikolas Sargeant

Powerloom has officially launched on the Base network by introducing the first node mint on the blockchain and it has also surpassed 5200 Snapshotter Lite Nodes.

Powerloom, a leading composable data network that enables protocols to index and query blockchain data in a decentralized manner, has expanded to the Base ecosystem by introducing the first node mint on the Layer-2 blockchain.

In a press release shared with Cryptowisser, Powerloom said its expansion to base comes after successfully minting of over 5,200 Snapshotter Lite nodes, marking a significant milestone in its commitment to providing actionable onchain data across the L1 and L2 networks.

With Powerloom now available on Base, Base users can mint a data node, offering a novel pathway to contribute to and benefit from onchain data. With Powerloom’s one-click setup for Snapshotter Lite Nodes, it is now easier for users to participate in minting a data node. 

Swaroop Hegde, the Co-founder of Powerloom, commented that, 

“Reaching over 5200 Snapshotter Lite nodes is a milestone that signifies trust and growth in Powerloom's mission. As we expand into the Base ecosystem, we're growing from a tech standpoint and building the community. This step is pivotal as we continue to democratize onchain data access. The future is exciting, and this is just the beginning.”

Powerloom explained that the Base expansion includes Base and other L2 solutions, with tech optimizations such as the Optimism Stack integration and enhanced participation options for Snapshotters in various data markets across the Base ecosystem.

Powerloom’s Network Generates Millions of Snapshots Monthly

According to Powerloom, snapshots are onchain data points captured by Snapshotter Lite Nodes from diverse data markets within the ecosystem, mainly focusing on DEX token pairs/pools like the USDC - ETH pair on DEXes like Uniswap (V2) and Aave. 

The Powerloom ecosystem is powered by Snapshotters as they capture data from the blockchain and various data markets onchain. The Lite version of the Node is tailored to be user-friendly and requires minimal technical experience.

The team revealed that over the last 30 days, its network generated over 250 million snapshots, with a daily increase to approximately 10 million snapshots. This achievement indicates the scale and impact of its operations.

The network participants ensure every piece of data is accurate, thoroughly validated in consensus-backed computation, and further validated so developers can build with peace of mind. Their task ensures that the Powerloom network is reliable. Powerloom’s data markets seamlessly integrate pre-computed, validated, and readily consumable APIs for the DeFi protocols and smart contracts for any use case. 

Powerloom is well-positioned to lead in the blockchain data infrastructure space thanks to its expansion to Base.

Powerloom is a leading onchain data protocol that serves the evolving data needs of smart contract-based applications like DeFi, GameFi, NFTs, and more. The platform incentivizes participating peers to reach a consensus on state transitions and event emissions observations across many smart contracts. Powerloom unlocks the power of onchain data, enabling developers to build complex dashboards, smart bots, advanced aggregators, and insightful trackers with data integrity and adaptability.

 

Author

Nikolas Sargeant

Nik is a content and public relations specialist with an ever-growing interest in Crypto. He has been published on several leading Crypto and blockchain based news sites. He is currently based in Spain, but hails from the Pacific Northwest in the US.