Cronos, a layer-1 blockchain built on Cosmos SDK, has announced a partnership with Covalent. The partnership comes as a relief for developers who are willing to venture into the Web3 innovations. The partnership aims at simplifying on-chain data access for data analysts and developers.
In addition to the simplification of the workflow for their participants, Cronos and Covalent will work together to bring out the transparency of on-chain data to crypto wallets, investors, and others. With this partnership, they will be able to make Web3 experience great while allowing developers and projects access to information that will power decentralized applications.
Benefits to Cronos and Covalent ecosystems
While explaining the working principle of this integration, Covalent CEO and co-founder, Ganesh Swami, said that the Covalent Unified API which is a code-free solution for developers will work on adding another layer of simplicity by sourcing all the relevant information.
Swami also added that developers’ experience level will be a bonus, however, he noted that this will not be a hindrance for those seeking to create projects with little or no coding experience.
Cronos chain and Cronos Labs managing director, Ken Timsit, also supported this noting that there is a need to have a simple unified solution that will boost successful Web3 adoption. He also added that Cronos identifies with the Web3 ecosystem growth and with the Covalent Unified API, Cronos will be able to meet the developers’ rising expectations as they try to find a better user experience, functionality, and utility.
In addition, the Covalent Unified API will simplify the workflow as well as increase the efficiency and time to markets saving developers time that they consume while trying to find their work.
Cronos and Covalent achievements
Cronos is compatible with Ethereum Virtual Machine (EVM) and is backed by Crypto.com, Crypto.org, and more than 300 application developers. Cronos’ plan is to onboard over 50 million users by offering an ecosystem where developers can develop DeFi applications and GameFi.
One of the recent Cronos team achievements is the recent launch of a $100 million accelerator program fund by Cronos Labs aimed at helping developers shape the future of Web3 by creating new projects.
On the other hand, Covalent has been providing Unified API services to allow Web3 data points visibility. It powers over 1,000 applications with over 27,000 developers depending on it.
Some of the many data points that Covalent Unified API allows access to include decentralized exchange transactions, token balances, and ERC20 token transfers.
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