Powerloom Surpasses One Billion Data Snapshots Before Mainnet Launch
Powerloom, a decentralized data system for blockchain applications, has surpassed one billion real-time data snapshots through its Snapshotter nodes. This milestone followed the launch of Powerloom's testnet in February 2024.
Powerloom's network comprises over 5,300 Snapshotter nodes globally, actively collecting and organizing datasets for decentralized finance, GameFi, and NFT platforms.
Powerloom’s Snapshotter Network: Revolutionizing Real-Time Data
The demand for real-time, accurate, and verifiable data is increasing as blockchain technology advances. Powerloom addresses this need by providing a system that supports scalable applications.
This platform enables developers to build efficient applications with reduced operational costs, facilitating access to complex data. Powerloom’s decentralized network captures state changes and events, organizing them into structured data securely stored on IPFS. The consensus mechanism ensures data accuracy, automatically syncing datasets to on-chain blocks in real time.
This approach prevents smart contracts and Decentralized Applications (dApps) from utilizing outdated information. By removing the reliance on external oracles and indexers, Powerloom simplifies Web3 app development. The mainnet is scheduled for launch in January 2025.
Powerloom Provides Developers with Seamless User Experiences
Powerloom resolves a critical issue in blockchain by offering real-time data essential for user engagement on social platforms. Applications within DeFi, GameFi, and NFT sectors require up-to-date data for optimal user interactions, yet current systems often lag behind.
The protocol allows developers to create interactive Web3 experiences comparable to Web2 platforms while easily converting raw blockchain data into user-friendly applications. Additionally, Powerloom provides affordable data snapshots, making it accessible to developers without requiring costly infrastructure or specialized skills.
To encourage developer participation, Powerloom has initiated a Generative Prediction Markets (GPM) Tournament, featuring small prediction markets created every five minutes with rewards exceeding $500,000 in POWER tokens. Scheduled from December 20, 2024, to January 3, 2025, the tournament has already garnered interest from over 10,000 wallets and generated more than 500,000 predictions.
Powerloom's native token, POWER, is integral to its ecosystem, offering staking opportunities, community rewards, and incentives for early users. With the upcoming mainnet launch, Powerloom is set to become a key player in the blockchain landscape, providing a decentralized, transparent, and cost-effective data layer for future Web3 applications.