Powerloom, the composable data network, has just announced a partnership with Polygon Network. In a first-of-its-kind event on Polygon, Powerloom is set to launch a node mint, marking a significant evolution towards their vision of the decentralization of on-chain data markets.
To democratize web3 data accessibility, Powerloom aims to establish 10,000 independently run nodes. This will be facilitated by a node mint scheduled on Feb 7th. Participants who mint a Soul-Bound Token (SBT) will be awarded the right to operate a Powerloom Snapshotter Lite node.
This will provide a fair way for community members to obtain a node and support network operations on Powerloom. After acquiring an SBT, the holder will earn the right to operate a Powerloom Snapshotter Lite node.
Node operators will be able to contribute to Powerloom composable data markets while earning rewards. They will also be able to provide feedback and help test critical infrastructure to help enhance Powerloom’s composable data network.
After significant participation of over 20,000 onboarded members on its Incentivized Testnet with Coinlist, this new node initiative is a lighter version of Powerloom’s existing Snapshotter node, tailored to be user-friendly and requiring minimal technical experience. This allows participants to contribute to the Powerloom network actively, fostering composable data accessibility and opening pathways to future 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.”
Powerloom Protocol is a composable data network primarily aimed at serving the on-chain data needs of smart contract-based applications like DeFi, GameFi, NFTs, and more.
Powerloom incentivizes participating peers to reach a consensus on state transitions and event emissions observations across many smart contracts. By utilizing data compositions on smaller, consensus-reached data units, Powerloom stands as a peer-validated and accurate information source, empowering rich data applications like dashboards, bots, aggregators, and insights trackers.
- Learn more: powerloom.io
- Mint site: mint.powerloom.network