5 months ago
Swaroop Hegde, CEO and Co-Founder of Powerloom, joined CryptoSlate’s Editor-in-Chief, Liam “Akiba” Wright, and CEO Nate Whitehill connected The SlateCast to sermon the aboriginal of decentralized information layers. Backed by notable names similar Blockchain Capital and Filecoin, Powerloom is mounting a caller modular for composable and decentralized information solutions, reshaping however users interact with on-chain information and fostering innovation crossed web3 applications.
The Challenge of Reliable On-Chain Data
Swaroop began by highlighting the existent inefficiencies successful accessing and verifying on-chain data. Traditional methods trust heavy connected centralized sources, specified arsenic CoinMarketCap oregon circumstantial blockchain dashboards, starring to imaginable information manipulation and outdated information.
“Most of the usage erstwhile it goes extracurricular of the dApp is really coming from immoderate benignant of centralized indexer,”
Swaroop noted, emphasizing the vulnerabilities inherent successful specified a setup.
Powerloom addresses these issues with a decentralized node network, enabling real-time information computation without the request for a centralized intermediary.
“With implicit 5,300 nodes, adjacent non-technical users tin lend to the network, ensuring verifiability and reliability,” helium explained.
Powerloom’s Unique Approach to Data Composition
Unlike accepted indexers, Powerloom operates connected a demand-driven strategy that aggregates information atomically. Swaroop explained,
“We don’t beryllium and scale each the data. Instead, we absorption connected composing information dynamically based connected demand.”
This attack allows Powerloom to cater to a assortment of usage cases, from trading information to lending rates crossed aggregate chains.
The platform’s composability extends beyond Uniswap and Aave, creating “data markets” that empower users to trade personalized queries and insights. These markets are decentralized and verifiable, ensuring users tin spot the integrity of their data.
Introducing Generative Prediction Markets (GPM)
A standout diagnostic discussed was Powerloom’s Generative Prediction Markets (GPM), a revolutionary exertion built during a hackathon. Swaroop described GPM arsenic a afloat automated, on-chain prediction system: “GPM uses information from Powerloom to make prediction markets that resoluteness successful 30 minutes, with nary quality involution required.” By leveraging decentralized data, GPM allows users to foretell token prices oregon different metrics, ensuring contiguous payouts and seamless idiosyncratic experiences.
The exertion has go a important idiosyncratic of Powerloom’s network, demonstrating the imaginable for innovative products built connected its decentralized infrastructure.
Bridging AI Agents and Decentralized Data
Swaroop highlighted Powerloom’s imaginable to heighten the functionality of AI agents by providing them with trustworthy, decentralized information sources.
“Most AI agents trust connected APIs for data. With Powerloom, these agents tin entree verifiable information without worrying astir manipulation,” helium said.
This integration opens the doorway to much reliable and businesslike AI-driven applications.
The decentralized operation ensures that each users and AI agents stock a communal root of truth, fostering greater spot successful automated systems.
A Roadmap for the Future
Looking ahead, Swaroop outlined ambitious plans for 2025, including the instauration of dynamic information markets and Watchmen, a diagnostic designed to situation and verify information accuracy successful real-time. The squad besides aims to grow its exertion ecosystem to marque Powerloom accessible to web2 users without requiring extended method knowledge.
“Powerloom’s ngo is to simplify entree to decentralized information portion enabling innovative applications to flourish,” Swaroop emphasized.
Closing Thoughts
The SlateCast occurrence with Swaroop Hegde offered a heavy dive into the transformative imaginable of decentralized information layers. From creating verifiable information markets to fostering innovation with Generative Prediction Markets, Powerloom exemplifies the possibilities of web3 infrastructure.
As web3 continues to evolve, solutions similar Powerloom are indispensable successful ensuring transparency, reliability, and accessibility. The increasing intersection of decentralized systems and precocious technologies promises a aboriginal wherever information integrity and innovation spell manus successful hand.
The station Swaroop Hegde discusses Powerloom’s ngo to reshape information integrity successful blockchain appeared archetypal connected CryptoSlate.
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