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Onchain Alpha | Enabling rapid development of advanced data applications with Powerloom

In this conversation, Swaroop and Humpty discuss the entrepreneurial journey and the creation of Powerloom protocol. Swaroop shares his background in tech and crypto, highlighting the importance of perseverance in entrepreneurship. They delve into the development of Power Loom, a composable data network for blockchain data, and its key features such as snapshots and decentralization.

TL;DR:

Swaroop, the co-founder of Powerloom, discusses the platform's decentralized data solutions on the Onchain Alpha podcast. Powerloom offers final data sets with on-chain proofs, unlike centralized services, aiming to revolutionize developers' access to blockchain data. Swaroop emphasizes Powerloom's reliability and engagement with projects like Farcaster, highlighting plans for expansion and a low-code, no-code platform. He invites listeners to join the community. Swaroop shares his vision for Power Loom and how it can continue to expand using innovative platforms. They also discuss the power of on-chain development and the impact of Web3 in the digital space. The conversation concludes with a reminder to engage with Powerloom and stay updated on its developments.

Takeaways:

• Perseverance is crucial in the entrepreneurial journey, and it is important to find meaning and impact in the projects you work on.

• Powerloom is a composable data network for blockchain data, providing decentralized and reliable access to on-chain data.

• Powerloom's snapshots concept allows for continuous observation and cataloguing of smart contracts, ensuring accurate and trustworthy data.

• Powerloom differentiates itself from other data service providers by offering a decentralized approach and eliminating the need for redundant data queries.

• The development of Powerloom is driven by the vision of making on-chain data more accessible and efficient for developers and users. Farcaster has seen significant success, with Pratik's podcasts ranking in the top five casts on the platform.

• Hackathons provide valuable opportunities to connect with founders and sponsors in the decentralized social space.

• Powerloom aims to expand its vision by supporting innovative platforms and building a low-code, no-code solution.

• On-chain development allows for greater composability and decentralization, empowering individuals to participate without relying on centralized providers.

• Web3 development offers new possibilities for creating value and impact in the digital space.

In the fast-evolving landscape of blockchain technology, innovation is the key to staying ahead. Out of all the projects that are coming out in this field, Powerloom stands out as a leader in decentralized data solutions. In a recent episode of the Onchain Alpha podcast, Humpty welcomes listeners and introduces Swaroop, co-founder of Powerloom, who took listeners on a journey through the genesis of Powerloom, its core functionalities, and its vision for the future. 

Swaroop shares his background in tech and crypto, having been an entrepreneur for decades and an early adopter of Bitcoin. He then discusses his previous project, Block Visual, which provided infrastructure for Matic (now Polygon). With increasing demand, they grew from handling a million to a billion API calls daily, becoming a single point of failure. Realizing the need for a more accessible, efficient, and decentralized data solution, they pivoted to create Powerloom as a protocol. Swaroop also shares his entrepreneurial journey and the challenges of scaling a business in the crypto space.

The podcast begins with Swaroop providing insights into his background, steeped in both technology and the crypto sphere. Having been an entrepreneur for decades and an early advocate of Bitcoin, Swaroop brings a wealth of experience to the table. His previous venture, Block Visual, laid the groundwork for what would eventually evolve into Powerloom.

The Entrepreneurial Journey

Swaroop shares his entrepreneurial journey, reflecting on the challenges and lessons learned along the way. He emphasizes the importance of finding meaning and resonance in the entrepreneurial journey, even in the face of failure. He recounts his experience of selling a company and starting over, which led him to reevaluate the qualities necessary for entrepreneurial success. He highlights the importance of perseverance, thick skin, and a willingness to take risks. He compares the entrepreneurial journey to a marathon and emphasizes the importance of believing in a long-term vision. 

The discussion then shifts to the genesis of Powerloom itself. Swaroop recounts the evolution from their initial focus on supporting Polygon to developing a more comprehensive decentralized data solution. Powerloom is described as a "composable Data Network," revolutionizing how developers access and interact with blockchain data.

They reflect on their early experiences in the industry and the importance of supporting multiple ecosystems from the outset. He also touches on the significance of traction and future-proofing in entrepreneurship. Developers can get started with it today by utilizing its capabilities to access on-chain data and transform it using various protocols, offering a more developer-friendly approach compared to centralized services.

Swaroop describes Powerloom as a decentralized library for blockchain data, using the metaphor of a library with continuous observation and cataloguing of smart contracts. Unlike centralized services, Powerloom offers final data sets with on-chain proofs, eliminating the need to trust potentially unreliable nodes. Developers can seamlessly integrate Powerloom into their projects, leveraging its robust infrastructure to access and transform on-chain data.

The previous project was an RPC provider, providing raw data, but Powerloom aims to provide final data sets with proofs that live on-chain, eliminating the need to trust centralized services. Powerloom uses the concept of snapshots, with peers taking data points and reaching consensus to generate data sets. The network currently has over 5,000 peers, and consumers can decide how many they need and pay the protocol for the service. Powerloom aims to be the core of advanced data applications for blockchain, providing final data sets with on-chain proofs.

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@OnchainAlphaPod Ep. 7 is now LIVE on YouTube and all podcast platforms

This one with @thedatadood had @swaroopH, co-founder of @PowerloomHQ, on the show

The episode explores Powerloom, its unique features, the value of Hackathons, why connect with founders and…

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8:35 PM • Apr 1, 2024

The discussion shifts to the role of Powerloom in the context of decentralized data applications, specifically comparing it to other services like Farcaster and Neynar. Swaroop notes that Powerloom seems to be building the infrastructure for anyone to become a "Neynar" for various blockchain protocols. While Neynar provides raw data, Powerloom makes it easier to consume by packaging it as an API. Swaroop also highlights the advantage of Powerloom over centralized services, as it eliminates the need to query potentially unreliable nodes. He then shares an idea for a potential hackathon project involving Powerloom and Warpcast, emphasizing the reliability and accuracy of the data provided by the decentralized network.

Celebrating Success on Farcaster

Swaroop shares insights into Powerloom's engagement with Farcaster, a decentralized social media platform. Hackathons are highlighted as pivotal events for fostering industry connections and raising awareness about Powerloom's capabilities.

He regrets not being an early adopter of Farcaster but is excited about its recent growth. He emphasizes the importance of hackathons as a way to connect with industry leaders and build meaningful relationships. Powerloom is also committed to participating in hackathons to increase awareness of their project and engage with developers Swaroop reflects on Powerloom's past experiences at hackathons and their plans for a more significant presence this year.

He discusses the company's mission to incentivize people to build on their platform and the idea of hosting hackathons. He mentions his personal goal of helping developers build "cool things" and shares an example of a hackathon project with a nostalgic Windows 95 interface. Humpty also shares his background in building a decentralized data platform called Orange Protocol several years ago, which has since evolved into Mosaic and his vision is to create a social experience for super fans using web3 technology.

Looking ahead, Swaroop discusses Powerloom's expansive vision, which includes supporting multiple blockchain ecosystems and building a low-code, no-code platform. The goal is to empower developers to build advanced data applications with ease, transcending traditional barriers to entry.

Swaroop believes there should be more options in the crypto space and collaboration between different platforms. He also mentions hacking something new for Powerloom's integration with Frame, which is part of their plans for the next month. Humpty emphasizes the importance of data and the ability to build on-chain applications using Powerloom, regardless of the specific platform. The focus is on abstracting away complexity and reducing the effort required to build on Powerloom. Swaroop also mentions the potential expansion of Powerloom to other EVM chains with a simple configuration change.

Powerloom currently supports various blockchains, including Ethereum and Optimism, and users can easily switch between them without writing additional code. However, moving to new chains like Aptos, which is a non-EVM chain, requires more effort due to the need to learn a new framework. Powerloom treats all on-chain data the same way, and the protocol functions regardless of the chain as long as there is a verifiable Anchor Point. Swaroop expresses a desire to expand beyond DeFi and gaming use cases and mentions the history of building Twitter clients and the importance of accessibility and decentralization. He aims to build a low-code, no-code platform by the end of the year and invites the audience to try it out and provide feedback.

Swaroop shares a personal story of launching a project called a "mint" on Polygon, which allowed individuals to become snapshots on the network and decentralize the process, without relying on a third party. The project, which is not for trading or transferable, has grown from a few peers to thousands, with individuals running nodes on their computers and VPSes. The goal is to reach 10,000 nodes before hitting the mainnet with emphasis on the freedom and motivation that Onchain Data provides for developers to build and decentralize without relying on centralized APIs or permissions. He encourages viewers to check out the protocol's Discord and documentation to learn more.

To remain engaged with Powerloom and be at the forefront of blockchain innovation, there are several avenues to explore

1. Join the Community: Become an active member of Powerloom's vibrant community on Discord. Engage in discussions, share insights, and collaborate with fellow enthusiasts and developers passionate about decentralized data solutions.

2. Follow on Twitter: Stay updated on Powerloom's latest developments, announcements, and events by following them on Twitter. Join the conversation, interact with the team, and stay informed about upcoming opportunities to get involved.

3. Participate in Hackathons: Keep an eye out for Powerloom's participation in hackathons and developer challenges. Join forces with other developers to explore innovative use cases and leverage Powerloom's capabilities to create impactful blockchain applications.

4. Explore Documentation: Dive into Powerloom's comprehensive documentation to gain a deeper understanding of its functionalities, APIs, and integration possibilities. Equip yourself with the knowledge to unleash the full potential of Powerloom in your projects.

By staying connected with Powerloom, you become an integral part of the blockchain revolution, shaping the future of decentralized data solutions. Join the community, stay informed, and embark on a journey of innovation with Powerloom today.

The Onchain Alpha podcast recently featured Swaroop, co-founder of Powerloom, shedding light on the innovative decentralized data solutions offered by the platform. Swaroop's journey from being an early Bitcoin adopter to founding Powerloom was highlighted, along with his entrepreneurial insights and the evolution of Powerloom from its inception.

Powerloom is described as a decentralized library for blockchain data, offering final data sets with on-chain proofs, unlike centralized services. Swaroop explains its functionality through the metaphor of a library continuously cataloguing smart contracts. Powerloom aims to revolutionize how developers access and interact with on-chain data, boasting over 5,000 peers in its network.

A comparison with other services like Farcaster and Neynar is drawn, emphasizing Powerloom's advantages in providing accessible data through APIs and its reliability compared to querying potentially unreliable nodes. Swaroop also discusses Powerloom's engagement with Farcaster and the significance of hackathons in raising awareness about the platform.

Looking ahead, Powerloom envisions supporting multiple blockchain ecosystems and building a low-code, no-code platform to empower developers. Swaroop emphasizes collaboration in the crypto space and plans to expand Powerloom to other chains beyond DeFi and gaming. He invites the audience to explore Powerloom's offerings and participate in its community through Discord and documentation. Additionally, Swaroop shares a personal project on Polygon called "mint," aiming to decentralize processes and promote freedom for developers without relying on centralized APIs or permissions.