Covalent Integrates With Cronos zkEVM, Advancing Data Availability And Scaling Across Over 230 Blockhains
In Brief
Covalent has integrated with Cronos zkEVM to improve blockchain scalability, security, and long-term data availability.
Modular data infrastructure provider Covalent announced that it has integrated with the Layer 2 zero-knowledge blockchain Cronos zkEVM. This integration aims to improve blockchain scalability, security, and long-term data availability (DA).
Cronos zkEVM is among the first zk-rollup blockchains to deploy on the mainnet, positioning itself as a frontrunner in Ethereum scalability. It introduces a “triple yield” model, offering users several ways to generate income. This includes yield-bearing cryptocurrencies within the ecosystem that inherently generate returns, decentralized finance (DeFi) opportunities that enable individuals to engage in DeFi protocols and earn further rewards, and a loyalty points system that adds an extra layer of value for users.
This collaboration aims to provide developers and projects within the Cronos ecosystem, referred to as CROFam, with enhanced tools and improved data accessibility. CROFam includes a strong community of end-users and developers who will benefit from these advanced resources.
Furthermore, the integration improves blockchain data management by incorporating Covalent’s Ethereum Wayback Machine (EWM). This tool will guarantee that the complete history of the Cronos zkEVM blockchain data remains accessible and analyzable. This is important for developers, data-driven applications, and any organization needing reliable and comprehensive access to historical blockchain data.
By utilizing Cronos zkEVM’s zero-knowledge proof system, this integration aims to offer scalable and cost-effective solutions while upholding Ethereum’s security standards. Consequently, developers can make and release high-throughput applications while ensuring high levels of security—a crucial aspect in the advancing field of decentralized applications (dApps) and DeFi.
Covalent Raises $5M In Funding To Expand Its Presence In Asia
The project operates as a modular data infrastructure layer designed to address challenges in blockchain and AI. Its main focus areas include verifiability, decentralized AI inference, and long-term DA. Additionally, the EWM provides secure and decentralized access to transaction data on Ethereum.
Recently, Covalent raised $5 million in a strategic funding round led by RockTree Capital, with contributions from CMCC Global, Moonrock Capital, and Double Peak Group. This funding aims to expand Covalent’s presence in Asia and advance the adoption of long-term DA in regions encompassing China, Korea, and Singapore.
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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.
