CryptoSlate SlateCast
Building the decentralized data layer with Powerloom’s Swaroop Hegde
Swaroop Hegde, CEO and Co-Founder of Powerloom, joined CryptoSlate’s Editor-in-Chief, Liam “Akiba” Wright, and CEO Nate Whitehill on The SlateCast to discuss the future of decentralized data layers. Backed by notable names like Blockchain Capital and Filecoin, Powerloom is setting a new standard for composable and decentralized data solutions, reshaping how users interact with on-chain data and fostering innovation across web3 applications.The Challenge of Reliable On-Chain DataSwaroop began by highlighting the current inefficiencies in accessing and verifying on-chain data. Traditional methods rely heavily on centralized sources, such as CoinMarketCap or specific blockchain dashboards, leading to potential data manipulation and outdated information.“Most of the usage when it goes outside of the dApp is actually coming from some sort of centralized indexer,”Swaroop noted, emphasizing the vulnerabilities inherent in such a setup.Powerloom addresses these issues with a decentralized node network, enabling real-time data computation without the need for a centralized intermediary.“With over 5,300 nodes, even non-technical users can contribute to the network, ensuring verifiability and reliability,” he explained.Powerloom’s Unique Approach to Data CompositionUnlike traditional indexers, Powerloom operates on a demand-driven system that aggregates data atomically. Swaroop explained,“We don’t sit and index all the data. Instead, we focus on composing data dynamically based on demand.”This approach allows Powerloom to cater to a variety of use cases, from trading data to lending rates across multiple chains.The platform’s composability extends beyond Uniswap and Aave, creating “data markets” that empower users to craft personalized queries and insights. These markets are decentralized and verifiable, ensuring users can trust the integrity of their data.Introducing Generative Prediction Markets (GPM)A standout feature discussed was Powerloom’s Generative Prediction Markets
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