Covalent Network (CQT)'s Ethereum Time Machine: Ensuring Long-term Data Availability in the Rollup Era

Ethereum is undergoing a transformation journey to the "Rollup Era", which is driven by the Ethereum Improvement Proposal EIP-4844. This marks a key transition for blockchain technology, which adopts a new data structure called "blobs." In keeping with Ethereum’s scaling efforts, the Covalent Network (CQT) roadmap emphasizes streamlining operations by clearing historical blockchain data and implementing state expiration to increase efficiency and scalability. However, this shift presents a challenge - maintaining accessibility to historical data without relying on rent-seeking, centralized intermediaries.

Covalent Network (CQT) has become one of the key solutions for changes within Ethereum, continuously maintaining the availability of data blocks in a decentralized manner. As Ethereum continues to evolve and the way data is stored changes, Covalent Network (CQT) is committed to ensuring the long-term accessibility of data by providing archived data through the Ethereum Time Machine (EWM) to parties who rely on this information.

Why is long-term data availability important?

Think of blockchain data as the history of the Ethereum network, an immutable record of transactions, smart contracts and activity.

This data has multiple uses:

Transparency: It allows anyone to access and analyze the complete historical transaction records.

Regulatory Compliance: Regulatory agencies may require access to historical data to investigate possible fraud or illegal activity.

Investment Strategy: Investors and stakeholders rely on historical data to make informed decisions about blockchain-based activities.

Adoption: Developers may be hesitant due to concerns about limited access to historical data, which hinders the adoption of blockchain technology.

The lack of solutions like the Ethereum time machine could pose a potential threat to the growth of the blockchain ecosystem. In essence, EWM plays a key role in ensuring that Ethereum continues to thrive and maintain its strong position as a platform for innovation such as AI model fine-tuning, machine learning, risk assessment, and as-yet-unknown future use cases.

Introducing the Ethereum Time Machine (EWM)

The Ethereum Time Machine is an open source solution that solves the challenge of long-term data availability. It empowers developers, researchers, and ecosystem participants to access rich, cryptographically secure historical data without relying on centralized intermediaries.

The core of EWM consists of two key components:

Block Specimens Producer (BSP) : Use cryptographic proofs to securely extract data from the blockchain for archival data Provides synchronization mode for historical extraction and real-time data.

Block Results Producer (BRPs): A concurrent block re-execution framework that enriches block samples and provides a pair of block data obtained from RPC calls of blockchain nodes One presentation.

How the Ethereum Time Machine works

The Ethereum Time Machine utilizes the Covalent Network (CQT) to ensure the accessibility and availability of historical blockchain data. By using BSPs and BRPs, developers can reconstruct the blockchain in a fully rendered manner and create databases with standardized schemas.

Here are the highlights of EWM:

Decentralization: EWM addresses censorship risk concerns by providing historical data through a decentralized network.

Eliminate RPC bottlenecks: Innovative technologies like BSP and BRPs eliminate the limitations of querying RPC layer data.

Security through proofs: Cryptographic proofs ensure data integrity, allowing participants to verify the accuracy of provided data.

Rich capabilities: EWM provides rich capabilities, such as contract tracking and off-chain NFT metadata, to provide developers and users with in-depth insights and analysis.

Building for the future of Ethereum

The introduction of EIP-4844 highlights Ethereum’s strong commitment to innovation and improvement. This breakthrough advancement solves scalability and data management challenges, unlocking new possibilities for on-chain applications. However, as more people are able to participate on-chain, important data used to verify L2 Rollups transactions has been inaccessible for a long time. While centralized actors may offer solutions, EWM stands out as a decentralized and pragmatic approach that provides continuous access to historical blockchain data.

Covalent Network (CQT), with its Ethereum Time Machine, serves as a game-changing solution designed to keep block data available in a decentralized manner. In a market environment where data availability is critical, Covalent Network’s (CQT) commitment to decentralized solutions will play a key role in Ethereum’s continued success.

About Covalent Network (CQT)

Covalent Network (CQT) creates the largest data availability layer in Web3, empowering millions of users to build new technologies in AI, Big Data and DeFi. Economic products. It is deeply committed to democratizing data acquisition by making structured data accessible to everyone through a unique unified API. As a core component of the DePIN ecosystem, Covalent Network (CQT) provides developers, analysts, innovators, and thousands of customers with comprehensive, real-time access to more than 225 blockchains and growing data .

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