Powerloom Hits One Billion Unique Data Point Milestone: Details

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As a researcher who has been immersed in the dynamic world of blockchain and decentralized technologies for years, I must say that witnessing Powerloom’s achievements is nothing short of exhilarating. The fact that their Snapshotter nodes have surpassed one billion data points within just ten months since the testnet debut is truly awe-inspiring. It’s like watching a seed sprout into a towering tree in the blink of an eye.

Powerloom, an advanced data foundation for blockchain apps, recently announced that its network of Snapshotter nodes has reached a significant 10-million data point milestone since its testnet launch in February 2024.

Powerloom’s Snapshotter nodes eclipsed one billion data entries

Powerloom, an advanced data infrastructure designed for interacting with on-chain apps, has achieved a significant milestone in its distributed node network’s adoption. In just the initial ten months of its test network operation, no less than 5,300 Snapshotter nodes have recorded over one billion data points (or “snapshots”).

📅 🎯 January 9th 💪

— Powerloom Protocol (@Powerloom) December 19, 2024

In today’s fast-paced digital world where users interact quickly via likes, follows, and subscriptions, the real-time datasets from Powerloom can enable decentralized applications (dApps) to offer smooth user experiences without sacrificing speed or precision.

After achieving their milestone, Powerloom has officially announced the launch date for their main network. It is anticipated that Powerloom’s main network will begin functioning in January 2025.

The snapshots are agreed upon using a clear, consensus process and stored on InterPlanetary File System (IPFS) with their Content Identifier (CID) serving as the unique tag for verifying data accuracy.

Swaroop Hegde, a co-founder at Powerloom, is thrilled about the progress made by their product during the trial phase of its system.

Reaching over a billion images in our test network, powered by over 5,300 independent Snapshotter nodes, highlights the combined power of our decentralized system. Each node, managed by individuals worldwide, enhances the robustness, verifiability, and overall dependability of the data we provide. As we approach mainnet launch, this global involvement not only supports our methodology, but also empowers developers and users to trust in cutting-edge Web3 applications, knowing the datasets they utilize are transparent, reliable, and consistently updated to cater to their requirements.

As a researcher working with Powerloom data, I ensure that each dataset is automatically synced to on-chain blocks, providing real-time updates to reflect the current state of the underlying blockchain. This ensures that applications and smart contracts execute using up-to-date information, minimizing the risk of outdated data affecting their performance. Furthermore, DeFi protocols, GameFi apps, and NFT platforms can effortlessly access and utilize these snapshots within their own systems without needing extra queries or RPC requests.

Generative prediction markets kicks off on PowerLoom

In simple terms, Generative Prediction Markets (GPM) – an engaging prediction game within the Onchain Points system – demonstrates that Powerloom is ideally suited to facilitate the development of cutting-edge consumer applications, with a focus on sectors such as on-chain data analysis and decentralized social media networks.

As a crypto investor, I find myself constantly seeking insights into real-time market trends. That’s why I appreciate the Genius Prediction Machine (GPM), a tool that creates micro-prediction markets every five minutes, all without any human intervention. This allows me to test my predictive skills in a secure, transparent, and rewarding ecosystem. What sets GPM apart is its automated approach, which effectively minimizes the risk of bias and manipulation often seen in prediction markets.

Powerloom is holding a GPM Tournament, offering more than 500,000 POWER tokens as rewards to early adopters of the GPM app, based on their leaderboard positions. This competition runs from December 20, 2024, at 9:00 a.m. UTC to January 3, 2025, at 9:00 a.m. UTC. To date, over 10,000 wallets have engaged with approximately 50,000 self-resolving markets within the GPM app, generating over half a million predictions.

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2024-12-20 19:39