Covalent Network Whitepaper

Blockchain technologies are ushering in a revolutionary change to traditional internet computing paradigms. While the internet allowed for the nearly-free and nearly-instant transfer of information, blockchains will allow for the nearly-free and nearly-instant transfer of value, paving the way for native currencies on the world wide web. Similar to how the internet disrupted traditional media companies (television networks, newspapers, and radio), blockchain technology will disrupt traditional financial institutions such as banks, loan providers, accounting firms, and so forth.

We have already seen the seeds of this disruption take root in decentralized finance (DeFi) projects. At the time of this writing, there is more than $50 billion locked in various DeFi protocols. The rapid adoption of these nascent projects is a testament to how powerful the technology is, and still only a glimpse of what is to come.

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Covalent Network Whitepaper

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