Covalent’s Long-Term Data Infrastructure Supports Top EVM L2s That Use Blobs, Totaling $5.4B in TVL

cryptonews.com:

Covalent, the leading historical data availability network empowering 1000’s of customers and developers with its structured data infrastructure on over +225 chains in Web3, is aligning its innovative solution to meet the needs of future advancements of Ethereum, particularly in light of the Ethereum Improvement Proposal 4844 (EIP-4844). With Covalent’s robust infrastructure, users and developers can access a wealth of structured, verifiable data from an ever-growing repository of billions of data points, enriching over 280 million wallets to date and shaping the AI and DeFi industries with structured information.

As Ethereum scales, it must periodically discard historical rollup data to maintain a lean framework. This practice renders the rollup data irretrievable after just 18 days, underscoring the necessity for a permanent solution that ensures long-term data availability. Such a solution is critical to addressing bottlenecks in scalability and efficiency that are crucial as Ethereum continues to grow in a decentralized way.

This is where Covalent emerges as the primary  solution with the “Ethereum Wayback Machine.” This is not just another data storage solution; it is a strategic modular answer to the constraints of current Data Availability mechanisms only offering short-term arbitrary data space—offering a permanent decentralized gateway to historical data vital for Ethereum’s continuously evolving ecosystem.

To assess the impact of Covalent’s solution on the Ethereum ecosystem, we examine the Total Value Locked (TVL) in various Ethereum Layer 2s (L2) solutions that utilize Ehthereum’s newly introduced Blob storage for posted rollup data. Here’s a snapshot of the TVL across the leading EVM-compatible L2s leveraging