Arthur Hayes Joins Covalent In Building Blockchain Data Infrastructure To Enhance Ethereum’s Verifiability For AI
In Brief
The partnership aims to safeguard the historical data of Ethereum, ensuring accessibility and transparency for the ecosystem’s history.
Decentralized data infrastructure layer, Covalent revealed that Arthur Hayes, Co-Founder of BitMEX and Chief Investment Officer of Maelstrom, has joined as its strategic advisor. This collaboration is focused on safeguarding the historical data of Ethereum, ensuring accessibility and transparency for the ecosystem’s complete history.
Covalent has dedicated its efforts to building a resilient data infrastructure aimed at enhancing data accessibility and fueling blockchain since 2019. As the pioneering solution to introduce long-term data availability (DA), it aims to ensure that all blockchain data remains verifiable and accessible continuously.
“From day one, Covalent has been committed to preserving Ethereum’s data history and maintaining its integrity,” said Ganesh Swami, CEO & Co-Founder of Covalent. “Now, with his extensive background, Arthur Hayes’ passions and radical vision are aligned with our relentlessness to grow and excel, positioning Covalent as the leading Ethereum-based data infrastructure for AI,” he added.
Ethereum’s data is inherently decentralized, but its lack of verifiable structuring can pose challenges in terms of cost, efficiency, and suitability for AI training and inference. The Ethereum Wayback Machine (EWM) guarantees that all Ethereum and Ethereum Virtual Machine (EVM) rollup data will shape AI with a preformat and verifiably secure pipeline. This pipeline enables AI developers and users to access onchain history, potentially unlocking new technological advancements while addressing concerns surrounding AI safety. Notably, certain blockchain data, such as blobs, are only accessible for a limited period before permanent deletion, making the EWM essential as the gateway to preserving permanent Ethereum data.
“Long-term data availability is crucial to securing a decentralized future with the uncertainty around AI,” said Arthur Hayes, Chief Investment Officer of Maelstrom. “The EWM positions Ethereum for AI with a new level of security and transparency. I’m thrilled to be part of the Covalent team and play my part in building the best data infrastructure that will ultimately fuel scalability and true decentralization,” he added.
As an influential figure in the blockchain space, Arthur Hayes aims to enhance AI security through Ethereum. His objective aligns closely with Covalent’s mission, which focuses on utilizing EWM to facilitate safe AI with quality structured data, eliminating the dependence on centralized intermediaries. These efforts are geared towards empowering functions like automated financial management.
Covalent’s EWM Expands Support To Accommodate New AI Applications In Web3
Covalent offers data infrastructure solutions for the decentralized ecosystem, addressing the challenge of long-term DA for Ethereum. With Covalent’s CQT token staking recently returning to Ethereum, the network is set to advance further towards the EWM, signaling that AI applications now have unrestricted access to onchain data from over 225 blockchains.
Recently, Covalent’s EWM expanded its support to accommodate new AI applications in Web3 using its structured dataset. Moreover, Covalent has introduced the GoldRush Decoder, an advanced tool that converts raw log events into structured data, and unveiled the Go SDK, which improves access to blockchain data with the efficiency of the Go programming language.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
