What is Powerloom?
Powerloom Protocol is a decentralized data network designed to meet the growing data requirements of smart contract-based applications, including DeFi, games, and other user-centric platforms. It incentivizes participating peers to achieve consensus on state transitions and event emission observations across multiple smart contracts.
Key Features:
- Composable Data Network: Powerloom enables developers to build complex dashboards, smart bots, advanced aggregators, and insightful trackers with data integrity and adaptability.
- Consensus-Backed Data: Every data point in Powerloom is peer-validated, backed by consensus, and stored on IPFS, ensuring complete transparency and trust.
- Flexible Data Models: Developers can contribute to data markets by building their own use cases, tracking valuable data beyond basic transactions.
- Decentralized Storage: Powerloom uses decentralized storage networks to deliver a consistent, unified view of all historical data, enhancing reliability and accessibility.
Powerloom’s architecture is designed to be decentralized from the ground up, with data market implementations and relevance controlled by market economics, representing a distinct departure from centralized solutions where data is controlled by a single entity.