Company Overview

Powerloom protocol is a decentralized data indexing product focused on completely decentralizing data sources for dApps and protocols. Unlike its peers in the market (Graph, Covalent), Powerloom focuses on enabling a network of participating peers to pass through data on state transmissions and event emissions across smart contracts. The primary value proposition for consumers of Powerloom is the distributed approach to sourcing, parsing, and passing on data. It leaves considerably less of an attack vector for third-party party data-sources to interfere with the accuracy of the information provided.

Mission / Vision:

The Powerloom Protocol is a decentralized data protocol primarily designed to meet the growing data requirements of smart contract-based applications, including DeFi, games, and other user-centric platforms. It incentivizes participating peers to achieve consensus on state transitions and event emission observations across multiple smart contracts.

By utilizing data compositions on smaller, consensus-reached data units, Powerloom stands as a peer-validated and accurate information source, empowering rich data applications such as dashboards, bots, aggregators, and insights trackers.

<aside> 💡 Powerloom in a nutshell:

Powerloom is analogous to a decentralized library catalog for blockchain data.

The "snapshotters" are like librarians who continually observe shelves of books (smart contracts), cataloging additions or removals of books, changes in existing books, and notes added by readers in book margins (events).

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Highlights

• Decentralized Data: Powerloom allows developers to build applications on top of decentralized, consensus-backed data, enhancing reliability and transparency.
• Real-Time Data: The snapshotter network provides real-time data updates as transactions occur on the blockchain, enabling applications that require live data.
• Time-series Queries: Datasets are available across precise time periods captured in epochs, which can be further filtered and composed to serve specific use cases. This is useful for analytics and tracking trends.
• Flexible Data Models: Developers can contribute to data markets by building their own use cases and contributing to the "data markets" to track what's most valuable for their specific use case, beyond basic transactions.
• Modular and Extensible: Powerloom has a modular architecture that makes it easy for developers to add support for new data sources, transform data, and build on top of existing data pipelines.

Protocol Dynamics

Powerloom offers an infrastructure that can power the data requirements of emergent applications in Web3. It does this function better than its peers through two core tenets. Firstly, through bootstrapping a network of nodes and snapshots that are responsible for sourcing and passing on the data. Secondly, through offering simple-to-use APIs and dashboards that visualize the consensus around the accuracy of blockchain data. A live implementation of the model for sourcing Uniswap’s data can be **seen here.**