Calgary, AL February 12, 2024 Chainwire
Data collected from shared networks enhances research and learning
The University of Calgary became the first university to become a validator on the shared network. Dr. Alfred Lehar, a professor of finance at the Haskayne School of Business, and his group of research assistants collect data from blockchains and put it into a shared network where participants parse and use the data. Responsible for sending. data. Universities and Covalent will grow as a network with separate validators to ensure long-term stability, and the University of California, Calgary will create a hard-to-access chain that can be used for research and hands-on teaching of blockchain to students. There is mutual excitement to gain access to data. By becoming validators, universities also receive staking rewards in the form of shared virtual currency (CQT) that can be used to fund research. Covalent donated 175,000 CQT, or approximately CAD 44,000, to the university to begin this collaboration.
“For us, this is an opportunity to demonstrate this cutting-edge technology to our students, grow a new economy, and collect data to conduct deeper research.”
Dr. Alfred Leher, Professor, Haskayne Business School, University of Calgary
Blockchain data is public but difficult to access. Lehar and his team do the heavy lifting of accessing and retrieving data. He then provides the data to the Covalent Network in an easily accessible format. Lehar says that it is technically very complex to take this data, which contains billions of individual points, and incorporate it into his user-friendly interface. Once the data is sent to the network, users will be able to see all live network activity, from transactions to completing game quests. In addition to seeing how much is in their wallet, this data also helps users check their tax liability, calculate profit and loss on investments, and track the growth of their blockchain projects. .
“The future of blockchain depends on the immediate availability of live and historical data, in many formats, that lasts not just for the past 15 minutes, but for the future. We help keep the vision a reality.”
Ganesh Swami, Covalent CEO
Already one of the leading universities in empirical blockchain finance research, Lehar said access to the Covalent Network is already having a positive impact on this research being conducted at the University of California, Calgary. . His team explores how blockchain technology enables things like trading stocks, borrowing, lending, and investing that traditional financial institutions do, and how they can be done on a blockchain. We have looked at how it is done and how it differs from traditional financial institutions. They found that the mechanisms that occur on blockchain are better and more efficient than traditional institutions. This provides an opportunity to improve the efficiency of financial institutions and improve access to superior financial products. According to estimates, moving the U.S. stock market to blockchain could save billions of dollars annually through lower transaction costs and increased liquidity. Lehar and his team will continue to use Covalent’s blockchain data to investigate how these markets work and what risks they may pose.
Media inquiries
brennan black
University of Calgary, Media, Issues and Outreach Advisor
brennan.black@ucalgary.ca
About the University of Calgary
The University of California, Calgary is Canada’s entrepreneurial university located in Canada’s most enterprising city. This is a top research university and one of the highest ranked universities in this era. Founded in 1966, our 35,000 students experience an innovative learning environment rich in research, hands-on experience, and entrepreneurship. He is a leader in the creation of start-up companies in Canada. Get started today at the University of Calgary.
For more information, visit ucalgary.ca. Stay up to date with UC Calgary news headlines on Twitter @UCalgary. For University of California, Calgary news releases, images, B-roll, faculty details and how to contact experts, visit the newsroom at ucalgary.ca/newsroom.
About Covalent
Covalent powers the data layer of blockchain, enabling millions of users to build a new economy. It stands out for its deep commitment to democratizing the availability of blockchain data. Since its inception, Covalent has empowered developers, analysts, and enthusiasts with comprehensive real-time data across over 200 blockchains. See how Covalent is building the Ethereum Wayback Machine.
For more information, please visit Covalent’s official website. twitter | Discord | Telegram | Blog | API Guide
contact
dahlia fu
dahlia@covalenthq.com
