A naukri.com initiative
TheNewsCrypto
5d
36
Image Credit: TheNewsCrypto
Powerloom Clocks Over 1 Billion Unique Data Points Ahead of Highly Anticipated Mainnet Launch
- Powerloom is preparing to launch its mainnet by January 2025 before which it established a GPM Tournament to incentivize early users of the GPM app based on their leaderboard positions.
- Powerloom's decentralized network has collected more than one billion snapshots by more than 5,300 Snapshotter nodes which offer real-time verification to DApps and help understand the behavior of capital flow, social interactions, and truth verification without any disruptions.
- The rising necessity for real-time data relays capable of functioning at pace with user interactions has pushed developers and consumers toward accurate, high-quality, and verified database. Powerloom's real-time datasets assist DApps to provide a seamless user experience without sacrificing speed or accuracy.
- Each dataset produced by Powerloom is presented on IPFS and peer-validated with Redux store support, which removes the possibility of applying or Smart Contract information that has become obsolete.
- In the Web3 plans, Powerloom provides abstraction of data capture and composition via composed Snapshots that make on-chain data effortlessly accessible and affordable for everyone.
- Powerloom is uniquely positioned to back up next-generation consumer applications, including decentralized social networks and on-chain analytics. GPM, a fun on-chain prediction game that is part of the Onchain Points ecosystem, demonstrates how Powerloom can support the next generation of consumer applications. The game generates more than 50,000 self-resolving markets, which has resulted in more than 500,000 forecasts.
- Powerloom's utility token $POWER will debut in January 2025. Providing staking, prizes, and engagement incentives, the token will play a vital role in motivating members in the ecosystem.
- For next-generation on-chain consumer applications such as DeFi, GameFi, NFTs, among others, Powerloom is the customized data layer. Developers can optimize for scalability, flexibility, and agility while lowering operating expenses.
- Powerloom's mission is to enable open and transparent access to verifiable data stored on the blockchain. The easy accessibility and affordability of the blockchain data by Web3 applications and end-users ensure consumer applications' growth and rich insights based on stored blockchain data.
Read Full Article
2 Likes
For uninterrupted reading, download the app