Swaroop Hegde, CEO and co-founder of Powerloom, joined CryptoSlate 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 such as Blockchain Capital and Filecoin, Powerloom sets a new standard for composable and decentralized data solutions, reshaping how users interact with on-chain data and driving innovation in Web3 applications.
The challenge of reliable on-chain data
Swaroop began by highlighting current inefficiencies in on-chain data access and verification. Traditional methods rely heavily on centralized sources, such as CoinMarketCap or blockchain-specific dashboards, leading to potential data manipulation and outdated information.
“Most usage outside of the dApp actually comes from some sort of centralized indexer.”
» noted Swaroop, highlighting the vulnerabilities inherent in such a setup.
Powerloom solves these problems with a decentralized network of nodes, enabling real-time data calculation 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 composition
Unlike traditional indexers, Powerloom operates on a demand-driven system that aggregates data atomically. Swaroop explained,
“We don’t just index all the data. Instead, we focus on dynamically composing data based on demand.
This approach allows Powerloom to address a variety of use cases, from commerce data to lending rates across multiple chains.
The platform’s composability extends beyond Uniswap and Aave, creating “data marketplaces” that allow users to create custom queries and insights. These marketplaces are decentralized and verifiable, ensuring that users can trust the integrity of their data.
Overview of Generative Prediction Markets (GPM)
One notable feature discussed was Generative Prediction Markets (GPM) from Powerloom, a revolutionary application created during a hackathon. Swaroop described GPM as a fully automated on-chain prediction system: “GPM uses Powerloom data to create prediction markets that resolve in 30 minutes, with no human intervention required. » By leveraging decentralized data, GPM allows users to predict token prices or other metrics, ensuring immediate payouts and a seamless user experience.
The app has become a significant user of the Powerloom network, demonstrating the potential of innovative products built on its decentralized infrastructure.
Connecting AI agents and decentralized data
Swaroop highlighted Powerloom’s potential to enhance the functionality of AI agents by providing them with reliable, decentralized data sources.
“Most AI agents rely on APIs for data. With Powerloom, these agents can access verifiable data without worrying about manipulation,” he said.
This integration opens the door to more reliable and efficient AI-based applications.
The decentralized structure ensures that all AI users and agents share a common source of truth, thereby fostering greater trust in automated systems.
A roadmap for the future
Looking ahead, Swaroop outlined ambitious plans for 2025, including the introduction of dynamic data marketplaces and Watchmen, a feature designed to challenge and verify the accuracy of data in real time. The team also aims to expand its application ecosystem to make Powerloom accessible to Web2 users without requiring deep technical knowledge.
“Powerloom’s mission is to simplify access to decentralized data while enabling innovative applications to thrive,” emphasized Swaroop.
Final Thoughts
The SlateCast episode with Swaroop Hegde offered a deep dive into the transformative potential of decentralized data layers. From creating verifiable data markets to driving innovation with generative prediction markets, Powerloom illustrates the possibilities of Web3 infrastructure.
As Web3 continues to evolve, solutions like Powerloom are essential to ensure transparency, reliability, and accessibility. The growing intersection of decentralized systems and advanced technologies promises a future where data integrity and innovation go hand in hand.
Disclosure: This was a paid partnership brought to you by Lunar Strategy.
