Powerloom, the adaptable data network, has recently forged a collaborative alliance with the Polygon Network. Pioneering a unique event on Polygon, Powerloom is gearing up to initiate a node mint, symbolizing a noteworthy stride towards realizing its goal of decentralizing on-chain data markets. In pursuit of democratizing Web3 data access, Powerloom intends to set up 10,000 autonomously operated nodes.
This will be made possible through a node mint event scheduled for February 7th. Individuals who mint a Soul-Bound Token (SBT) during this event will gain the privilege to operate a Powerloom Snapshotter Lite node. This will offer an equitable avenue for community members to acquire a node and contribute to network operations on Powerloom.
Upon obtaining an SBT, the holder will be granted the privilege to operate a Powerloom Snapshotter Lite node. Node operators will have the capability to contribute to Powerloom’s composable data markets, simultaneously earning rewards. Furthermore, they will have the chance to offer feedback and assist in testing crucial infrastructure, contributing to the improvement of Powerloom’s composable data network.
A More Efficient Web3 Ecosystem
Following a substantial engagement involving more than 20,000 registered members in its Incentivized Testnet with Coinlist, this fresh node initiative represents a streamlined edition of Powerloom’s current Snapshotter node. It is designed to be user-friendly and demands minimal technical expertise. This setup enables participants to actively contribute to the Powerloom network, promoting accessible composable data and creating avenues for forthcoming incentives.
Powerloom Founder Swaroop Hegde said: “By making our node initiative more accessible, we’re inviting broader participation while fostering a culture of learning. This approach allows participants to directly engage with and understand the architecture of a protocol that has been decentralized from the start. These new nodes testify to our commitment to creating a composable and accessible data network that empowers users and developers alike.”
Polygon Co-Founder Sandeep Nailwal added: “Partnering with Powerloom represents a significant step forward for Polygon. I am excited to see Powerloom set as the first infrastructure launch on Polygon. Their approach to creating a composable data network aligns perfectly with our vision for a more interconnected and efficient Web3 ecosystem.”
The Powerloom Protocol operates as a composable data network primarily focused on fulfilling the on-chain data requirements of smart contract-based applications such as DeFi, GameFi, NFTs, and others. Incentivizing engagement from participants, Powerloom encourages the consensus-building process for state transitions and event emissions observations across a multitude of smart contracts.
Through the utilization of data compositions derived from smaller, consensus-reached data units, Powerloom emerges as a peer-validated and precise information provider, enabling the development of robust data applications such as dashboards, bots, aggregators, and insights trackers.
