Dune Launches New Multi-Chain Platform and Index for Data Analytics
Date: 2024-11-11 Author: Henry Casey Categories: BLOCKCHAIN
Echo is a new platform that allows developers to access data from over 30 EVM blockchains, as well as Solana. Currently, Echo users can use two main APIs for balances and transactions, with wallet history and indexing features expected to be added in the future. Echo’s main selling point is its speed: the platform processes data within 300 milliseconds of block creation, making it one of the fastest in the industry. According to Dune co-founder and CTO Mats Olsen, Echo enables real-time data analytics, simplifying the development process and improving the user experience.
Dune also announced the acquisition of smlXL, a company that specializes in creating products for simulating blockchain transactions and is backed by venture capital fund a16z. The amount of the deal was not disclosed, but smlXL is expected to significantly contribute to the development of Dune's products. "With smlXL's technology, we will make the process of developing on top of blockchain data ten times simpler and more flexible," said Dune CEO Fredrik Haga.
Another new product from Dune is an index called the Dune Index, designed to analyze the level of blockchain adoption. The index displays key metrics such as the number of transactions, transaction volume, and commission amounts, which allows for a more accurate assessment of the activity and popularity of blockchain technologies. At the time of publication, the index value is 58, while its historical maximum was 87 in November 2021.
The Dune team believes that the current level of blockchain adoption is almost equal to previous peaks, but now it is driven by a greater emphasis on practical value and usefulness, rather than just the popularity of technologies.
It is worth noting that just recently, in October, the Etherscan explorer team presented a beta version of the new v2 platform with a unified API for working with more than 50 EVM blockchains, which also indicates a growing interest in improving data analysis in the blockchain.
