An In-Depth Look at Covalent (CQT) на сайте Nedvio

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Covalent provides a unified API bringing visibility to blockchain data. Its native CQT token powers the Covalent network. Covalent aims to be the data backbone for Web3, enabling developers to build powerful blockchain applications without needing to run nodes themselves.

Providing Blockchain Data Solutions

One of the biggest challenges developers face when building blockchain applications is accessing and querying data from blockchains. Blockchain data is fragmented across networks, requiring running multiple nodes.

Covalent solves this by indexing blockchain data and making it easily accessible through a single unified API. Covalent supports 14+ different blockchain networks including Ethereum, BNB Chain, Polygon and more.

Key features of Covalent’s blockchain data solution include:

  1. Unified API for accessing data across multiple blockchains.
  2. Pre-indexed blockchain data to avoid running nodes.
  3. Historical data going back to network inception.
  4. Ability to track wallets, transactions, NFTs, dapps and other on-chain activity.
  5. Pricing model based on API usage rather than a monthly subscription.

For developers, this streamlines building blockchain applications that rely on chain data. Products powered by Covalent’s API include crypto wallets, NFT galleries, portfolio trackers, blockchain analytics tools and more.

The CQT Token

The CQT token is the native utility token of the Covalent network. CQT has the following use cases:

  • Paying for API usage — API calls cost CQT based on usage tiers.
  • Staking — CQT holders can stake tokens to operate Covalent nodes and earn staking rewards.
  • Governance — CQT holders can propose and vote on network upgrades and policies.
  • Data tipping — Users can tip data providers in CQT as an incentive.

CQT aims to build a community of long-term token holders who actively participate in the evolution of the Covalent network by staking, governance, and tipping.

The token economics utilize a deflationary model where a portion of CQT spent on API calls is burned, reducing the total supply over time. This helps provide an appreciating value for CQT in line with network adoption.

Providing Valuable Data Services

In addition to the unified API, Covalent provides other valuable data services for its users. These include:

  • Covalent Data Explorer — An analytics dashboard for exploring blockchain data from Covalent’s indexed network. Users can analyze on-chain trends and activity.
  • Covalent Data Union — A data marketplace where users can buy curated, clean data sets from providers and integrate into applications.
  • Covalent Enterprise Metrics — Pre-defined metric dashboards for enterprise adoption measuring transactions, unique wallets, and other indicators.
  • Covalent Fee Explorer — A dashboard analyzing historical fee costs across transactions, tokens, and protocols to optimize usage.

By going beyond just raw blockchain data access, Covalent delivers additional value to users and helps drive utility and adoption for CQT.

Technical Infrastructure Powering Covalent

Under the hood, Covalent utilizes an optimized technical architecture to index terabytes of blockchain data and serve it to users. Core components include:

  • ElasticSearch — For storing indexed blockchain data in a optimized search database. Allows fast queries.
  • Covalent Nodes — A global network of synced nodes across supported blockchains to ingest new data.
  • Covalent Hybrid Compute — Combining cloud and dedicated servers to achieve scale and optimization.
  • Covalent Crawler — Specialized crawlers that listen to events and transactions from nodes and organize data.
  • Covalent Aggregator — Aggregates data from crawlers and enriches it before indexing in ElasticSearch.

By leveraging technologies like Elastic and running optimized infrastructure, Covalent builds an efficient blockchain data pipeline.

Roadmap and Future Plans

Covalent has an ambitious roadmap planned across multiple phases to enhance its platform and data offerings. Highlights include:

  1. Supporting 30+ blockchain networks to cover most of crypto activity.
  2. Launching more valuable data products like multi-chain token graphs.
  3. Expanding data exploration capabilities with analytics tools.
  4. Introducing subscriptions for data products beyond just API usage.
  5. Developing solutions tailored for enterprises.
  6. Enhancing CQT utility with governance, staking, and tipping.

Delivering on these roadmap plans will help drive increasing utility and adoption for CQT over the long-term.


Covalent provides a valuable solution in the blockchain space by making it easy to access indexed, historical blockchain data through its developer-friendly API. With its diverse data offerings and robust technical infrastructure, Covalent aims to be the go-to data platform for Web3.

As more developers build applications leveraging the Covalent API, adoption and usage of the CQT token should increase. Covalent has the potential to become a foundational blockchain data layer, powering the next generation of decentralized applications across industries.

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