Unmarshal, a new project to develop a blockchain data indexing solution, announced on Friday a $ 2.6 million seed capital round from a number of investors in the crypto industry.
Some of the venture funds that participated in the Unmarshal round include Woodstock, Black Edge Capital, Genesis Block Ventures or GBV, NGC Ventures, AU21, Spark Ventures, BitMax and a few others. Individual investors such as Ravindra Kumar and Philip Arthur Moore from Frontier, Sandeep Nailwal, co-founder of Polygon, Aniketh Jindal, Danish Chaudhari and others also took part in the round.
Unmarshal is building a multi-chain data indexing network that will help provide structured blockchain data for industry participants. The network supports Ethereum, Binance Smart Chain, Elrond, Polkadot and Substrate-based chains. The team expects to introduce support for Layer 2 networks over Polygon, formerly known as Matic.
Data infrastructure projects have achieved a high 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 custom data requirements for customers without asking them to code. If The Graph needs developers to create sub-graphs, we can provide more general data like wallet balance, transaction history for each address, etc. “
Although some of the data can be obtained from free APIs, Kolagondanahalli believes the data is not enough. “APIs provided by blockchain are block-specific or state-specific. It will be difficult to answer questions such as: B. Which tokens belong to an address and what value they have, ”he said.
Unmarshal will also include a token that will be embedded in the ecosystem. “We will have a decentralized network in which we will integrate indexers, decoders, validators and delegators,” explained Kolagondanahalli.
Potential users of the Unmarshal data include all industry participants, from DApp projects to stock exchanges and trading companies. The data can be transmitted via various media such as push notifications, WebSocket or certain dashboards. Using this data in a blockchain context is more difficult, said Kolagondanahalli, because a reliable oracle solution is required. “We can work with oracles or build our own oracles to provide the data for smart contracts,” he added.
Unmarshal seems to aim to be a data solution that is out of the box for specific data needs. Kolagondanahalli said, “You can use Unmarshal to create a block explorer.” This can be an attractive proposition for certain uses compared to competitors like The Graph or DuneAnalytics, who require the use of sophisticated query languages to structure data.