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Comparisons

The Graph vs Covalent for Querying Access Histories: Indexing On-Chain Identity Events

A technical analysis comparing The Graph's decentralized subgraphs and Covalent's unified API for querying complex on-chain identity event histories, focusing on performance, cost, and architecture for credential-based access control systems.
Chainscore © 2026
introduction
THE ANALYSIS

Introduction: The Critical Role of Indexers in On-Chain Identity

A technical comparison of The Graph and Covalent for querying complex on-chain identity events like POAP mints, ENS registrations, and DAO voting histories.

The Graph excels at providing high-performance, custom queries for specific smart contracts through its decentralized subgraph ecosystem. For identity-focused applications, this means you can define a subgraph to index every Transfer event for an ERC-721 contract like POAP or every NameRegistered event from the ENS registry with millisecond query speeds. Its architecture is optimized for real-time dApps, with subgraphs for major identity protocols like Lens Protocol and Gitcoin Passport demonstrating its capability to handle complex social graph data.

Covalent takes a different approach by providing a unified API that indexes the entire blockchain state, offering a historical data warehouse rather than a query engine for specific contracts. This results in a trade-off: you gain instant access to a decade of raw chain data across 200+ supported networks without writing indexing logic, but complex multi-contract joins (e.g., linking an Ethereum address to its Polygon identity) require post-processing. Its strength is breadth, not sub-second latency for custom event filters.

The key trade-off: If your priority is low-latency, application-specific queries for a known set of identity contracts (e.g., building a real-time reputation dashboard), choose The Graph. If you prioritize exploratory analysis across many chains and full history without upfront development (e.g., auditing identity footprints or calculating legacy on-chain scores), choose Covalent.

tldr-summary
The Graph vs. Covalent

TL;DR: Core Differentiators at a Glance

Key strengths and trade-offs for indexing on-chain identity events like ENS registrations, POAP mints, and DAO voting histories.

01

Choose The Graph for Custom Logic & Subgraphs

Subgraph-specific indexing: Write custom mappings in AssemblyScript to define precisely which events (e.g., ENS.NewResolver, POAP.Mint) to index and how to transform the data. This is critical for complex identity graphs linking multiple protocols.

Example: Build a subgraph that tracks a user's identity footprint across ENS, Lens Protocol, and Gitcoin Passport in a single query.

02

Choose Covalent for Unified, Multi-Chain Data

Unified API across 200+ chains: Query a single REST endpoint for historical events from Ethereum, Polygon, Base, and others without managing separate indexers. Essential for analyzing identity activity across an entire multi-chain ecosystem.

Example: Fetch all ERC-721 Transfer events for a specific wallet address across 10+ EVM chains with one API call to reconstruct a complete NFT-based identity history.

03

The Graph: Decentralized Network & Censorship Resistance

Decentralized Indexer Network: Data is served by a permissionless network of Indexers, Curators, and Delegators, reducing reliance on a single entity. Important for identity protocols where data availability and neutrality are paramount.

Key Metric: Over 500 Indexers securing the network, with queries paid in GRT.

04

Covalent: Time-to-Data & Developer Simplicity

Zero-configuration data access: No need to write or deploy indexing code. Historical event logs are available instantly via Class A Unified API endpoints. Ideal for rapid prototyping or applications that need broad, unfiltered event history without custom logic.

Key Metric: Access to full historical data for any supported chain from day one, with no deployment wait time.

HEAD-TO-HEAD COMPARISON

Feature Comparison: The Graph vs Covalent for Identity Events

Direct comparison of indexing architectures for on-chain identity and access history data.

MetricThe GraphCovalent

Data Model for Identity

Subgraph-defined schema (custom)

Unified API (standardized)

Query Language

GraphQL

SQL (via API)

Historical Data Access

From subgraph deployment

Full history from genesis

Multi-Chain Support

40+ networks

200+ blockchains

Identity-Specific Endpoints

Pricing Model

Query fees (GRT)

Unified API pricing

Primary Use Case

Custom dApp logic

Cross-chain analytics & dashboards

pros-cons-a
INDEXING ON-CHAIN IDENTITY EVENTS

The Graph vs. Covalent for Querying Access Histories

A data-driven comparison of two leading indexing solutions for building on-chain identity profiles. Choose based on your need for custom logic versus comprehensive, standardized data.

01

The Graph: Custom Subgraph Logic

Full control over indexing logic: You define the exact smart contracts, events, and data transformations in a custom subgraph. This is critical for complex identity heuristics (e.g., calculating a user's reputation score across 10+ protocols).

  • Best for: Protocols like Gitcoin Passport or Galxe that need to index specific, non-standard events to build proprietary identity graphs.
02

The Graph: Decentralized Network

Censorship-resistant queries: Data is served by a decentralized network of Indexers, with proofs of correctness via the Graph Protocol. This matters for permissionless, credibly neutral applications where data integrity is non-negotiable.

  • Trade-off: Query costs (GRT) and latency can be higher than a centralized API. Not ideal for simple, high-volume dashboard queries.
03

Covalent: Unified API & Historical Depth

Single endpoint for 200+ chains: Access normalized, decoded data across Ethereum, Polygon, Base, and 200+ others without writing indexing code. This is essential for cross-chain identity aggregation (e.g., tracking a wallet's total DeFi exposure).

  • Key Metric: "Gold Standard" unified API provides consistent schema, eliminating the need to parse raw logs for common standards like ERC-20, ERC-721, and ERC-1155.
04

Covalent: Time-Travel Queries

Full historical data without archival nodes: Query any wallet's state (balances, NFT holdings) at any past block. This is a game-changer for auditing, compliance, and generating verifiable identity snapshots (e.g., "Prove you held this NFT on Jan 1, 2023").

  • Best for: Analytics platforms like Nansen or Arkham that require flexible, historical on-chain profiling without managing infrastructure.
pros-cons-b
THE GRAPH VS COVALENT

Covalent: Pros and Cons for Identity Indexing

Key strengths and trade-offs for querying on-chain identity events like POAP mints, DAO votes, and token-gated access logs.

01

Covalent: Unified Data Schema

Standardized data across 200+ chains: Covalent's normalized API returns consistent schemas for balances, transfers, and logs. This eliminates the need to write custom parsing logic for each identity event source (e.g., ENS registrations on Ethereum vs. .sol registrations on Solana).

  • Use Case Fit: Ideal for cross-chain identity dashboards or aggregators that need a single integration point.
02

Covalent: Historical Depth & Speed

Full historical data without time-travel indexing: Access complete transaction histories for any wallet from block 0 via a single API call. No subgraph syncing or waiting for indexing jobs. Query latency is typically < 2 seconds for complex historical queries.

  • Use Case Fit: Perfect for compliance audits, on-chain reputation scoring, or analyzing a user's entire identity footprint quickly.
03

The Graph: Custom Logic & Real-Time

Subgraph-specific event processing: Write custom mapping functions in AssemblyScript to filter, enrich, and structure raw chain data precisely for your application. Supports real-time updates via GraphQL subscriptions as new blocks are indexed.

  • Use Case Fit: Essential for dynamic identity systems like live governance participation trackers or real-time credential issuance (e.g., Galxe).
04

The Graph: Decentralized Curation

Indexer/Curator marketplace: Rely on a decentralized network of indexers (over 500+ indexers on The Graph mainnet) for data integrity and uptime. Curation signals help surface high-quality subgraphs for identity data.

  • Use Case Fit: Critical for trust-minimized applications where data provenance and censorship resistance are non-negotiable (e.g., decentralized identity verifiers).
05

Covalent: Cost Predictability

Simple pricing model: Pay per API call or via monthly plans with predictable costs. No GRT bonding, delegation, or query fee market dynamics to manage. The Unified API reduces development overhead.

  • Use Case Fit: Best for startups or enterprises with fixed budgets needing stable, forecastable infrastructure costs for identity lookups.
06

The Graph: Ecosystem & Composability

Deep protocol integration: Native support in dApps like Uniswap, Aave, and ENS. Subgraphs are the standard for on-chain data in DeFi and NFTs, making identity data from these sources highly composable.

  • Use Case Fit: Choose this when building identity features that must seamlessly integrate with existing subgraphs from major DeFi/NFT protocols.
CHOOSE YOUR PRIORITY

Decision Framework: When to Choose Which

The Graph for Protocol Architects

Verdict: The default for composable, on-chain identity subgraphs. Strengths: The Graph's subgraph manifest allows you to define a precise schema and mapping logic for identity events (e.g., ENS.Registered, Lens.Posted). This creates a dedicated, open API that becomes a public good for your protocol. It's ideal for building a canonical data layer that other dApps can query directly, fostering ecosystem composability. The decentralized network provides censorship resistance for critical on-chain identity data. Consideration: Requires upfront development to define and deploy the subgraph. Query costs are paid in GRT via the billing system.

Covalent for Protocol Architects

Verdict: The rapid solution for unified, multi-chain identity analytics. Strengths: Covalent's Unified API provides instant, normalized access to historical identity events across 200+ chains without any deployment. Use their identity endpoints to fetch all transactions, NFT holdings, or token balances for an address across supported networks in a single call. This is perfect for building dashboards or analytics features that require a holistic, cross-chain view of user activity without managing multiple indexers. Consideration: You rely on Covalent's schema and data structuring. For highly custom, chain-specific event logic, you may need to post-process the data.

verdict
THE ANALYSIS

Final Verdict and Recommendation

Choosing between The Graph and Covalent for on-chain identity indexing depends on your team's resources and the specificity of your data needs.

The Graph excels at providing highly customized, low-latency access to specific on-chain events through its decentralized subgraph ecosystem. For identity-focused queries—like tracking all Transfer events for an ERC-721 contract or indexing a custom IdentityUpdated event from a smart contract—developers can write precise mappings. This results in GraphQL APIs with sub-second query times, ideal for real-time dApp features. However, this power requires significant developer effort to build and maintain the subgraph.

Covalent takes a different approach by providing a unified, fully managed API that returns rich, decoded blockchain data across 200+ supported networks. Its strength for identity histories lies in its Historical Wallet API, which can return a complete, paginated transaction history for any address without any setup. This results in a trade-off: you gain immense time-to-market advantage and access to a broader dataset (including log events, token balances, and NFT transfers) but sacrifice the ability to create hyper-optimized queries for a single, novel event type.

The key trade-off: If your priority is building a performant, custom feature around a specific, novel identity event (e.g., indexing a proprietary soulbound token schema) and you have the engineering bandwidth, choose The Graph. If you prioritize rapid development, accessing a comprehensive multi-chain history for any wallet or contract out-of-the-box, and want to avoid infrastructure management, choose Covalent. For most teams needing to query existing identity patterns (ERC-20/721/1155 transfers, DAO votes), Covalent's unified API provides the fastest path to production.

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The Graph vs Covalent for Querying Access Histories: Indexing On-Chain Identity Events | ChainScore Comparisons