Powerloom, a decentralised data network, has announced a partnership with Polygon Network. The two companies are launching a node mint, in a major step towards Powerloom’s goal of decentralising onchain data marketplaces, and it will be the first of its type on Polygon.
Powerloom Protocol is a decentralised data network that can be configured to meet the data requirements of smart contract applications such as DeFi, GameFi, NFTs, and others. Powerloom incentivises its users to collaborate on a wide range of smart contract issues, such as state transitions and event emissions monitoring.
Powerloom’s node mint
This new node project is a lighter version of Powerloom’s current Snapshotter node, designed to be user-friendly and requiring little technical knowledge. It follows a successful Incentivized Testnet with Coinlist, where over 20,000 people were onboarded. By doing so, users can make meaningful contributions to the Powerloom network, which improves the availability of composable data and paves the way for more incentives in the future.
Powerloom plans to make web3 data accessible to everyone, and will set up 10,000 nodes that run independently. Central to this is a node mint event, which will take place on February 7th. Participants will have the opportunity to run a Powerloom Snapshotter Lite node once they mint a Soul-Bound Token (SBT).
This will ensure that community members can access a node and contribute to Powerloom’s network in an equitable manner. The operators of nodes can participate in the Powerloom composable data markets and get incentives for their efforts. In order to improve Powerloom’s composable data network, SBT holders will also have the chance to test important infrastructure and give feedback.
Powerloom is promoting a learning culture and encouraging more engagement by making its node project more accessible. By taking this route, users can interact with and learn about the design of a decentralised protocol right from the start.