Unmarshal, a multi-chain DeFi data network, recently announced that it has received a development grant from Algorand, an open-source, permissionless, pure proof-of-stake blockchain protocol.
The partnership will help Unmarshal build a modern data infrastructure layer on the Algorand chain. With this integration, applications built on top of the Algorand protocol can now query and call on Unmarshal’s data APIs and its suite of end-point integrations, enabling other platforms to source rich, contextualised, and reliable blockchain data.
“Algorand is the first blockchain to introduce PPOS for ensuring high scalability, security and performance; accelerating decentralized finance. We are delighted to work with them to empower developers building New Financial Tools, Protocols and Services with real-time, rich and granular data from the Algorand chain,” stated Unmarshal CEO Manohar Kolagondanahalli.
Currently, Unmarshal provides access to granular blockchain data from Ethereum, Binance Smart Chain, Polkadot, Near, and Solana. The Unmarshal network implements data indexers and transforming tools to power DeFi applications compliant with the inter-blockchain communication protocol (IBC).
As the world’s first purely proof of stake blockchain protocol, Algorand was designed to support and scale decentralized applications to achieve virtually instant and low-cost transactions, expediting digital transactions through its high-performance chain.
Built by Silvio Micali, a Turing Award-winning cryptographer from MIT, Algorand has helped power next-gen financial products through its open-source blockchain protocol. Algorand’s can uniquely process the creation of new blocks, adjust the rate of scaling a network, and host user subsets participating in a chain. These features are what makes the protocol stand out in the industry.
“We are delighted to support Unmarshal in bringing their rich data APIs to the Algorand ecosystem. The ability to have rich, contextual and reliable data available to application developers will further enhance the power of the Algorand blockchain to create the next generation of finance that will bring blockchain technology into the mainstream” shared Algorand Foundation CEO Sean Lee.
With their partnership, Unmarshal and Algorand are set to build high performance decentralized applications. Unmarshal’s data indexing layer will enable developers to easily build their applications on Algorand while also empowering existing applications to scale, enhancing usability and seamlessness for their user communities. Unmarshal currently supports two data sets: rich data for wallet balances, and decoded transaction details.
Further support for current tech stacks are planned for subsequent integration, with the two teams collaborating closely to accelerate development work.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.