Covalent (CXT) is a long-term data availability protocol that structures data. It solves the problem of long-term data availability made prevalent after Ethereum’s Dencun upgrade, which deletes rollup history due to the state expiry feature. This particular solution is called the Ethereum Wayback Machine (EWM); it is used as a modular verifiable data infrastructure to solve challenges in AI, related to augmented decentralized AI training and inference.
In its recent rebrand, Covalent implemented a series of upgrades focused on accelerating its commitment within two core areas of focus: data availability and decentralized AI. At the same time, it also raised $5 million in strategic funding that will be used to expand its operations in APAC. Following the rebrand, Covalent transitioned the previous CQT token to the new CXT token.?
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