Breaking News
Investing Pro 0
Free Webinar - Webinar: Simplify Options Trading | Thursday, September 28, 2023 | 08:00PM EDT Enroll Now

Covalent Decides To Decentralize With Moonbeam

Published Apr 08, 2021 06:50AM ET Updated Apr 08, 2021 07:00AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
Covalent Decides To Decentralize With Moonbeam
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio

  • The Covalent Network will decentralize by moving to Moonbeam
  • Moonbeam is an Ethereum-compatible, Polkadot-based parachain
  • The move will allow Covalent to provide solutions for a multi-chain ecosystem

Big data tech company Covalent has just announced its decision to decentralize. The Covalent network will be based on Moonbeam, a smart contracts platform built on the Polkadot blockchain.

In a bid to solve the challenges presented by a multi-chain ecosystem for centralized databases, Covalent is taking steps towards the future. It will move to decentralization, based on blockchain technology.

In making the decision, Covalent was careful to consider its specific business needs such as EVM bridge compatibility, indexing of live DApps, data demand, and community. Keeping these in mind, they were able to conduct a thorough audit of the blockchain space to figure out what best suits their needs.

In fact, Covalent was interested in the Polkadot network from the start. However, the network faced many challenges in finding the right platform. Specifically, the need to create their own parachain to utilize the platform, as well as learning the coding lingo.

The advent of Moonbeam solved these issues instantly. Not only did Moonbeam simplify developing Polkadot-based blockchain applications, but it was also compatible and interoperable with Ethereum.

This compatibility allows developers to transfer already existing smart contracts and DApps with minimal changes. Since Moonbeam is a parachain on the Polkadot network, it enjoys the shared security of the relay chain and can integrate with other chains connected to its main network.

The only con of choosing this option was that Covalent will have to wait! Moonbeam will launch its mainnet by mid-2021. Covalent will be indexing both Moonbeam and Moonriver parachains, and use the first as a settlement layer.

This article was first published on

Continue reading on CoinQuora

Covalent Decides To Decentralize With Moonbeam

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.
  • Any comment you publish, together with your profile, will be public on and may be indexed and available through third party search engines, such as Google.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at’s discretion.

Write your thoughts here
Are you sure you want to delete this chart?
Post also to:
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
Sign up with Email