December 2023 was an extraordinary month for us at Powerloom! We had a fantastic time in Bangalore, India, during ETH India Week.
This busy week included not only ETH India 2023 but also many other exciting happenings, including our own 'DeFi Data Day.' Our team was thrilled to be part of these incredible events.
The highlight of the week was undoubtedly the ETH India 2023 Hackathon. We were amazed by the 14 submitted projects built on Powerloom. They showed great innovation and skill in just 48 hours!
Seven of these projects won the Powerloom bounty; remarkably, two were finalists in the ETH India 2023 Hackathon.
In this blog post, we will guide you on a deep dive through four outstanding projects developed during ETH India on Powerloom. Let's explore these creative and innovative ideas together.
Masala Wallet: The Secure and Spicier Wallet:
Masala Wallet is transforming smart contract wallet access with its user-friendly and secure system.
Utilizing a simple username-password mechanism, it links zkSNARK-friendly password hashes to usernames on its Master Contract for effortless yet secure access. The wallet's innovative password recovery system, leveraging ZK-SNARKs, epitomizes the balance between convenience and security.
Emphasizing blockchain's decentralization principle, Masala Wallet ensures integrity and trust within the crypto community, focusing on robust security to minimize asset loss.
The Role of Powerloom in Masala Wallet:
Its integration with Powerloom enhances its capabilities and helps Masala Wallet to manage unique usernames, and ensures a smooth user experience. This integration highlights Masala Wallet's commitment to blending user-friendliness with advanced blockchain security solutions and data management.
In our interview series, we spoke with Aditya Vijaykumar, the founder of Masala Wallet. During our conversation, we delved into various aspects of the product. Aditya offered valuable advice and tips for hackers, sharing insights from his experience.
Hackathon Submission: https://devfolio.co/projects/masala-wallet-c14c
GitHub Link: https://github.com/rajweb3/masala-wallet
Graphite: Revolutionizing Onchain Graph Computations
Graphite made a mark at ETH India’s Hackathon. This innovative tool is transforming how we approach blockchain graph computations. Traditionally, these computations would be costly and complex, significantly limiting their potential applications.
What sets Graphite apart is its ability to redefine the developer experience, especially when creating validity circuits like those seen in Circom and Halo2. Once challenging and nearly inaccessible for non-experts, this task is now more approachable, paving the way for broader adoption and innovation. Graphite focuses on simplifying graph computations, making them more feasible and user-friendly.
Graphite is a developer-friendly Python library that collects zkSNARK proofs all in one place. It collects data from powerloom by running a snapshotter node, runs graph algorithms like cycle detection, and generates zkSNARK proofs, all in Python.
Hackathon Submission: https://devfolio.co/projects/graphite-10e2
SnapSwap: A Breakthrough in DeFi from ETH India 2023 Hackathon
SnapSwap, another remarkable project submitted to the ETH India 2023 Hackathon, is reshaping the DeFi landscape with its user-friendly platform. Here's a snapshot of what makes SnapSwap stand out:
- Diversified Token Allocation: SnapSwap users can diversify their crypto investments effortlessly, thanks to a range of balanced crypto baskets based on various parameters.
- Effective Risk Analysis: The platform employs machine learning classifiers to analyze token volatility, guiding users to make informed decisions based on past token performances.
- Token Performance Comparison: SnapSwap offers an intuitive, graphical interface that provides clear insights into how different tokens stack against each other.
- Efficient Token Swapping: With SnapSwap, trading tokens becomes cost-effective and easy, allowing for hassle-free portfolio adjustments.
SnapSwap is a platform that aims to utilize the data on Powerloom and make cryptocurrency (predominantly coins) more understandable through classification and visualization of the data. SnapSwap classifies the tokens into different categories based on the risk factor and puts them into high-risk, medium-risk, and low-risk classifications.
How Powerloom supports SnapSwap:
Snapswap integrates Powerloom to get real-time and accurate onchain data, the foundation for an exceptional user experience. Through advanced classification and visualization techniques applied to Powerloom data, SnapSwap provides users with invaluable insights and assessment capabilities, enabling them to make informed decisions about the tokens.
Check our interview with the SnapSwap team:
Hackathon Submission: https://devfolio.co/projects/snapswap-3eb9
Github Link: https://github.com/a-sambhab/SnapSwap
Powerboard: The One-Stop Data Analytics Tool For Your Tokens
Powerboard has emerged as one of the user-friendly projects built on Powerloom's dynamic data infrastructure and has created a UniswapV2 Dashboard user interface to demonstrate the power of Powerloom’s data.
Powerboard’s data-backed dashboard entails multiple strong features such as:
- Validated and Verified Data: Powerboard utilised Snapshotter API for data on token pairs and real-time accurate data on blockchain transactions.
- Robust Information: Powerboard not only accumulated blockchain transactions but also informative data on them, such as top tokens, top pairs, 24-hour volume on tokens pairs, etc.
- Informative Dashboard: The Powerboard dashboard is powered by accurate and real-time decentralized data and is loaded with many powerful features such as Token Tables, TVL Charts, and current epochs, equipping the user with powerful data analytics and visualization tools.
- User-Friendly UI: The Powerboard is driven by user feedback and research, helping them build a powerful yet user-friendly and easy-to-map UI for their dashboard.
Powerloom’s robust data infrastructure is a powerful building block for Powerboard, being an extremely reliable source for real-time blockchain data. The Snapshotter nodes helped Powerboard build some great intuitive features, which made the dashboard more diversified and extensively insightful for data analytics.
Powerloom’s Snapshotter API introduces a verifiable and stable data infrastructure to make Powerboard a trusted and user-friendly product to help users get accurate and real-time analytics of the tokens.
Hackathon Submission: https://devfolio.co/projects/powerboard-286d
Onwards to 2024 🚀
The ETH India 2023 Hackathon showcased incredible innovation and talent in the web3 space, and we were able to see some of the use cases that can be built on the Powerloom protocol. Four stood out among the 14 projects presented, each with a significant impact in their areas.
We are pleased to have seen this immense creativity and skills driving the future of Powerloom and Blockchain technology. And we couldn't be more excited!
As we progress to another promising year, we look forward to witnessing the next-generation projects developed in the ecosystem. We will continue encouraging and supporting these projects on their path to success.
Powerloom Protocol is a decentralized data protocol primarily aimed at serving the ever-growing data needs of users of smart contract-based applications like DeFi, games, and more. We incentivize participating peers to reach a consensus on observations of state transitions and event emissions across many smart contracts. By utilizing data compositions on smaller, consensus-reached data units, Powerloom stands as a peer-validated and accurate information source, empowering rich data applications like dashboards, bots, aggregators, and insights trackers.