Unmarshal raises $2.6M to build user-friendly blockchain data indexing protocol

Unmarshal raises $2.6M to build user-friendly blockchain data indexing protocol

Unmarshal, a new project building a blockchain data indexing solution, has announced on Friday a $2.6 million seed funding round from a number of crypto industry investors.

Venture funds that participated in Unmarshal’s round include Woodstock, Black Edge Capital, Genesis Block Ventures or GBV, NGC Ventures, AU21, Spark Ventures, BitMax, and some others. The round was also joined by individual investors like Ravindra Kumar and Philip Arthur Moore from Frontier, Sandeep Nailwal, co-founder of Polygon, Aniketh Jindal, Danish Chaudhari and others.

Our top trading bots

Unmarshal is building a multi-chain data indexing network that would help offer structured blockchain data for industry participants. The network supports Ethereum, Binance Smart Chain, Elrond, Polkadot and Substrate-based chains. The team expects to roll-out support for layer-two networks through Polygon, formerly known as Matic.

Data infrastructure projects have achieved a significant level of popularity and usage, spearheaded by The Graph protocol. Unmarshal is in a similar niche, Manohara Kolagondanahalli, its co-founder, told Cointelegraph:

“Unmarshal is a complete end to end data network. We serve customised data needs for clients without asking them to code. Where The Graph needs developers to build subgraphs, we can provide more generic data such as wallet balance, transaction history for any address etc.”

Though some of the data can be obtained from free APIs, Kolagondanahalli believes that the data is insufficient. “APIs provided by blockchain are block specific or state specific. It will be difficult to answer questions like what are the tokens owned by an address and what is their worth,” he said.

Unmarshal will also feature a token that will be embedded in the ecosystem. “We will have a decentralized network where we onboard indexers, decoders, validators and delegators,” Kolagondanahalli explained.

Potential users of the Unmarshal data include all industry participants, from DApp projects to exchanges and trading firms. The data can be delivered through a variety of mediums like push notifications, WebSocket, or specific dashboards. Using this data in a blockchain context is harder, Kolagondanahalli said, as it requires a reliable oracle solution. “We can work with oracles or build our own oracles to provide the data for smart contracts,” he added.

Unmarshal seems to be aiming to be a data solution working out of the box for certain data needs, with Kolagondanahalli saying that “you can build a block explorer with Unmarshal.” Compared to competitors like The Graph or DuneAnalytics, which require using elaborate query languages to structure data, this may be an attractive proposition for certain uses.

Continue reading about Cointelegraph
Binance tells regulators it will cease operations in Ontario... for real this time
Binance confirmed in an undertaking to the Ontario Securities Commission, or OSC, in Canada dated Wednesday that the crypto exchange will cease activities...
Self-made wealth more likely to flow into crypto than inherited: Report
Self-made wealthy individuals worldwide appear more likely to invest in cryptocurrencies like Bitcoin (BTC) as opposed to those whose wealth is mostly inherited,...
Majority of US consumers say no to Meta owning metaverse data: Survey
A survey of 1,000 United States consumers around growing interest in the metaverse has revealed some interesting results. In a survey commissioned by nonfungible...
Ex-Goldman Sachs banker launches crypto app after $33M raise
The former Head of Product for “Marcus by Goldman Sachs” has launched a crypto investing app, “Domain Ventures,” raising $33 million from investors on Jan...
5 ways derivatives could change the cryptocurrency sector in 2022
We‘ve all heard stories of billion-dollar future contracts liquidations being the cause of 25% intraday price crashes in Bitcoin (BTC) and Ether (ETH) but...
EOS Climbs 14% As Investors Gain Confidence
Investing.com - EOS was trading at $3.7044 by 04:00 (09:00 GMT) on the Investing.com Index on Wednesday, up 13.70% on the day. It was the largest one-day...
BREAKING: The Bitcoin network welcomes Taproot soft fork upgrade
The Bitcoin (BTC) network successfully activated the Taproot soft fork following a 90% lock-in consensus from miners and mining pools between blocks 709,488...
Reddit to reportedly tokenize karma points and onboard 500M new users
American social media giant Reddit may soon convert users’ karma points into Ethereum-based (ERC-20) tokens and onboard 500 million new crypto users in...
FC Barcelona set to launch NFT soccer moments with Ownix
The FC Barcelona soccer club has partnered with Ownix to debut the launch of its nonfungible token (NFT) collection focused on enhancing the connection...
Bitcoin Rides ETF Euphoria to Record High
By Yasin Ebrahim Investing.com - Bitcoin hit a record-high on Wednesday, riding a wave of optimism following the launch of the first bitcoin futures-based...
Kevin O’Leary of ‘Shark Tank’ espouses deflationary future for Ethereum
Canadian entrepreneur, investor, and reality television personality, Kevin O’Leary — also known as “Mr. Wonderful” — appears to now be singing Ethereum’s...
Cointelegraph Consulting: DeFi hit by a tsunami of liquidations in May
The savage sell-off that took place in mid-May fueled volatility in markets and triggered liquidations among numerous decentralized finance protocols. Like...
Binance-backed Indonesian crypto exchange considers IPO
Jakarta-based crypto exchange Tokocrypto is considering a public market debut over the next two or three years, Nikkei reported on Wednesday.“I’m saying...
Bitcoin made me a 'ton of money' unlike stocks and gold — Jim Cramer
CNBC host Jim Cramer has revealed he made "a ton of money" on Bitcoin (BTC) but gold "let him down."In an episode of the Pomp Podcast released March 22,...
Japanese Exchanges to Firm Regulation, Face Gov’t Probes After $530 mln Hack
A few days ago it was revealed that 500 million NEM, which is approximately $530 million, had been thieved from the Tokyo-based cyber money trading platform...