What is Covalent (CQT)? Learn about CQT cryptocurrency from AZ

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2021-07-02 06:00:39

What is Covalent (CQT)?

Covalent is a data syndication network that provides a single, multi-chain unified API. Thereby creating the ability to access deep into the blockchain providing data with full transparency and detail.

Complex operations such as queries, wallet balance analysis, transaction history, ROI analysis, etc. will be easily performed by Covalent through that one unified API.

Covalent has claimed to have over 100 customers and several blockchains including Ethereum, Binance Smart Chain, Polkadot, Polygon, Avalanche, Elrond, and Fantom.

What problem does Covalent solve?

Blockchain will change the world, but it will be difficult if its data is not accessible. While the purpose of blockchain is a public, transparent network. The historical data deep within is difficult if not nearly impossible to access.

From that, Covalent provides a unified API (Application Programming Interface) that gives visibility to billions of blockchain data points. Covalent will be the network that provides databases for DEFI or NFTs projects.

What’s outstanding about Covalent?

Covalent will use the Moonbeam blockchain as a settlement layer which is now ready to launch as a parachain on Polkadot. Covalent makes its difference in its features:

  • Complete Granular Visibility

Covalent has indexed and decrypted the entire blockchain to make it available to developers through a unified API. Visibility to billions of blockchain data points for every single wallet.

Covalent does not require developers to write code or understand the nuances of blockchain data structures. From there can reach users who are not technical people.

  • Single API for multiple blockchains

Covalent API simplifies the sophistication of different blockchains with a single unified API.

  • Primer Transformation engine

An internal transformation language inspired by the MongoDB query language. With Primer, developers can select only the fields they want and aggregate more data to suit their needs. All of this is done at query time in real time.

The data is further decoded into a format that is immediately usable by the developer. No need to find ABI or write custom decryption code.

  • Decentralized Indexing-Querying middleware

Covalent Network features and fully decentralized storage with low fees and high throughput.

CQT Tokenomics

Key Metrics Token

Token Name Covalent Token
Sign CQT
Blockchain Updating
Token Standard Updating
Contract Updating
Token Type Utility
Total supply 1,000,000,000 CQT

Token Allocation

Token Sale

Covalent has successfully raised 14.46 million USD after 3 specific calls as follows:

CQT-Fundraising-History

The project also holds a Token Sale on Coinlist with 3 options:

CQT-Coinlist-Token-Sale

Token Release Schedule

CQT-Token-Release-Schedule

  • Estimated aggregate supply over time

CQT-Token-Release

Token Use Case

  • Governance: Token Holder can vote on proposals to change system parameters.
  • Staking: Stake CQT to receive interest.
  • Fee: used to pay data query fee
  • Validation: stake CQT to become validator, validators will receive fees for answering queries.

Where to buy CQT tokens?

Currently, CQT has not been listed on any exchange. Unless you have already purchased the token sale on Coinlist.

CQT Token storage wallet?

Updating

Should I invest in Covalent (CQT)?

Covalent’s two Co-Founders are two experienced people in the technology field. One is an industry leader in analytics and databases. One is the builder of Canada’s first Bitcoin exchange (bex.io) and is on the team that built [email protected] and is the author of numerous letters. Erlang open source library.

Covalent has received attention and investment from large and reputable funds in the Crypto world such as Binance Labs, Coinbase Ventures, Alameda Research…. And the number of Partners is very large, please refer to the following information:

Team

CQT-Team

Investors

CQT-Backer

Partnerships

CQT-Partner

Competitor

The Graph

Market Opportunity

With its advantages, in terms of compatibility, multi-blockchain support and being the only project that has indexed and decrypted the entire blockchain, Covalent has clearly shown its competitive advantage. The answer is a huge customer base that is desirable for any project.

Roadmap

Updating

Conclusion (Conclusion)

Hope all the above information has given you a comprehensive view of Covalent. Blockchain is changing day by day to get closer to the real world, more open, transparent and easily accessible to everyone. Hopefully Covalent will be a part of making that happen.

Good luck with your investment decisions. All are for informational purposes only and should not be considered investment advice. From BTA with love

#Covalent #CQT #Learn #CQT #cryptocurrency

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