TLDR;

• Covalent integrates 100+ chains in less than three years, with a 25% increase in Q1 2023 alone, the first data indexer ever to do so.

• Covalent is the first data indexer to index App chains, Optimistic rollups, and zkRollups, supporting the evolution of applications within GameFi and DeFi.

• Covalent utilizes the unique Block Specimen technology to ensure data extracted from the blockchain is cryptographically and verifiably secure.

Introduction

In 2020, Ethereum was the first chain to be integrated by Covalent, and the only one to be integrated that year. Now three years later, Covalent is celebrating the integration of over 100 chains. So, how did we get here? And why have we taken on the initiative to index so many chains?

Covalent first began as a hackathon submission during the 2018 bear market. The Covalent Unified API was created from observing the growing demand for on-chain wallet data. A simple, no-code API solution for bringing visibility to millions (as of 2020, billions now) of fragmented on-chain data. As noted in 2020, Ethereum was only the first blockchain to be integrated, with Polygon following shortly after.

Time to Build

With only one blockchain integrated by 2020, Covalent understood the importance of bringing the Unified API to the developer community building the next generation of blockchain consumer and enterprise applications. A successful $10 million dollar public sale on Coinlist in 2021 was the catalyst needed to add more fuel to the on-chain fire. 2021 was also the year we massively invested in hackathons (over 50 so far!) paying homage to our roots. This enabled Covalent to end the year with 26 blockchains indexed, preluding to the momentum that would be seen in the year to follow.

Why 100 Chains?

Due to the breadth of data available from the variety of chains that were being integrated, Covalent’s developer community was growing. By the end of 2021, 15,000 developers were building using the Unified API. So why are developers and integrating blockchains so important to Covalent? By having more granular, on-chain data made accessible by the Unified API, developers can have the freedom for building a greater variety of use cases and applications on the blockchain. The more data, the more use cases, and the more queries, inevitably generate more blockchains selecting Covalent as their preferred data indexer. Thus, the cycle begins again and the flywheel spins faster and faster.

Hitting Escape Velocity

With the integration process honed over the years into a turnkey indexing solution and the team members in place to execute it, Covalent was able to begin expanding its blockchain ecosystem. In 2022, Covalent doubled the amount of previously indexed chains from 2021, indexing over 50 new chains. This was also the year that Covalent became the very first indexer in the space to index app chains (application-specific blockchains) by partnering with two play-to-earn games; DeFi Kingdoms (DFK) and Crabada (CRA) within the Avalanche ecosystem.

In addition, Covalent was the first to index Zero Knowledge Roll-Ups, establishing Covalent’s position as the first to provide complete data transparency to zkEVM blockchains. By embedding zero knowledge (zk) functionality into Ethereum’s Virtual Machine, blockchains are able to increase efficiency and reduce data demands by “rolling-up” a large quantity of data transactions into one block.

In Q1 2023, Covalent was able to index 30 new chains, bringing the total amount of chains (including testnets and mainnets) indexed to over 100! March alone had four major blockchain integrations, announcing Covalent as the official launch partner to scale Ethereum with Polygon zkEVM and ConsenSys Linea, and as only one of two official indexers supporting Base by Coinbase.

The Most Secure Data in Web3

The Block Specimen Workflow from BSP Geth to the Proofchain.

With the breadth of chains that Covalent has integrated, the rows of data available are in the billions. Web3 however is still evolving, and an emphasis on the verifiability of data is necessary for the infrastructure layer in order for applications to continue building. Covalent’s testament and metric for quality and success is the utilization of a unique and original technology; the Block Specimen. This allows for the standardization of data provenance for Web3 by utilizing a bulk export method that can be implemented on existing blockchain clients including Geth and Erigon. The Block Specimen’s core function is to ensure the delivery of cryptographically secure data from any query made using the Unified API.

What’s Next?

Covalent’s mission has been and always will be to empower the pioneers of tomorrow by providing the richest and most robust data infrastructure for the entire blockchain ecosystem. As Web3 continues to develop and blockchains continue to evolve, Covalent will follow by providing access to the limitless rows of granular, on-chain data using the Unified API. With infinite use cases being created every day, the need for on-chain data will only continue to grow across the industry. By this time next year, Covalent’s goal is to have indexed 1000 chains. One Unified API. One Billion Possibilities.