Blockchain News

Covalent & Arbitrum Nova Team Up to Empower Web3 Developers with Blockchain Data

Covalent has partnered with Arbitrum Nova to improve data availability for developers building next-gen gaming and social apps with deep, granular, and historic blockchain data from over 90 blockchains and alternative sources.

Covalent X Arbitrum Nova: Up-to-date Data For Developers

Covalent, a provider of deep, granular, and historic blockchain data, has announced a collaboration with Arbitrum Nova to improve data availability for developers building next-generation gaming apps with social applications within the Arbitrum ecosystem. 

Protocols, institutions, and dApp developers highly value Web3 data and analytics. The Covalent developers claim their data collection process ensures the most up-to-date information retrieval from 90+ blockchains and alternative sources (app chains, L2s, etc.).

"With Covalent’s Unified API, developers can access deep, granular, and historical Arbitrum Nova data, including historical transactions per address, decoded log events, and much more," David Tso, Growth & Customer Success Manager at Covalent told BSC News. "This data facilitates chain analysis and helps builders effortlessly repurpose their technology from Ethereum to the Arbitrum ecosystem." 

Meanwhile, Arbitrum Nova enables Covalent users to build and analyze data in this developing space by accelerating the development of Web3 social applications.  

“When we launched Arbitrum Nova, we envisioned it as a supported environment where developers could create exceptional gaming and social dApps,” said David Bolger, Partnership Manager at Offchain Labs.

Moreover, in January, NFT giant OpenSea announced that it would support Arbitrum Nova, allowing users to buy or sell NFTs cheaper than Ethereum. 

The DeFi ecosystem on Arbitrum shows promise, especially in decentralized derivatives trading. The Layer-2 network also surpassed Ethereum in terms of daily transactions on February 21, when it reached 1.1 million transactions, about 20,000 more than Ethereum. 

At the time of writing, Arbitrum has a total volume locked of $3.02 billion, with decentralized spot and perpetual exchange GMX dominating 31.2%. 

What is Covalent: 

Covalent provides the industry-leading Unified API, allowing Web3 data points to be visible. Covalent is used by developers and analysts to create multi-chain applications such as crypto wallets, NFT galleries, and investor dashboard tools that use data from 94+ blockchains. 40,000+ developers rely on Covalent to power data for more than 5,000 applications, including 0x, Zerion, Rainbow Wallet, Rotki, Bitski, and many others.

Learn more about Covalent:

Website | Twitter | Discord | Telegram

What is Arbitrum Nova:

Arbitrum Nova is a blockchain service provided by Arbitrum that combines ultra-low transaction costs with high security. The chain employs AnyTrust technology, a variation of Arbitrum Nitro technology that accepts a mild trust assumption in exchange for low end-user fees.

Learn more about Arbitrum Nova:

Website | Twitter | Discord 

Follow us on Twitter and Instagram to keep up with all the latest news for BNB Chain and crypto.

If you need tools and strategies regarding safety and crypto education, be sure to check out the Tutorials, cryptonomics explainers, and Trading Tool Kits from BSC News.

Want the latest DeFi secrets delivered directly to your inbox every week from a leading industry expert? Instantly learn about strategies that could have you earning APYs of up to 69,000% with DeFi Maximizer. Sign up today and enjoy a 25% discount off of your first month!

Looking for a job in crypto? Check out the CryptoJobsNow listings!

Related News