May Recap: Major updates for Translate API and added support for Arbitrum Nova

At Noves, we believe in continuous improvement and innovation. In order to improve how we handle transactions and expand the data we provide, we made a number of enhancements and expanded our data coverage to an additional chain.

Major Updates, Translate API

1. Clarified Transactions: Transactions now include a 'description' text field, offering a straightforward summary of the transaction, making it much easier to comprehend.
2. Complete Transfer Tagging: Every transfer in a transaction is now individually tagged with its purpose, sender, and receiver, making transfers simpler to process.
3. Tagged Accounts: In the spirit of transparency, accounts that send/receive assets now come with a label, clarifying your counterpart in every transaction.
4. Formatting Update: To standardize our API, we've switched to a camelCase text format for all fields, moving away from PascalCase.
5. New Transaction Types: To cater to the varied needs of our users, we've added several new transaction types including registerDomain, renewDomain, placeNFTBid, and more.
6. Advanced Labeling for Complex Transactions: Our API now better labels accounts involved in complex transactions like "claim and stake".
7. Accurate Reward Detection: We've enhanced our detection of rewards claimed as part of staking or unstaking transactions.
8. Clarity in Bridge Transactions: The amount and token bridged are now differentiated from any fees paid to the bridge using a different token.
9. Enhanced English Descriptions: We've improved our one-line English descriptions for various transaction types.
10. Improved Error Handling: We've made it easier to identify issues with API parameters by improving how we handle user input errors.

Integration of Arbitrum Nova

Another update this month is the integration of Arbitrum Nova, an Ethereum Layer 2 scaling solution. Arbitrum Nova provides trustless security, Ethereum compatibility, enhanced scalability, and cost-efficiency. It works by managing data off-chain to significantly lower transaction costs.

After witnessing the success of its predecessor, Arbitrum One, we decided to support Arbitrum Nova due to its robust infrastructure and potential for widespread adoption. Our "real-time" setup ensures immediate and complete coverage of the chain as requests come into our API.

What’s next for Noves?

Over the next couple of months we are looking to expand to more chains. We're currently eyeing a number of ZK chains like zkSync Era and Polygon zkEVM. We’ve had preliminary discussions with EVMOS and Filecoin and are also planning to deploy on Base soon.

Outside the EVM world, we have a beta integration with Aptos and are researching an expansion into the Cosmos ecosystem.

In Conclusion

This May has been an incredible building period for Noves and our Translate API. These enhancements and the added support for Arbitrum Nova are a testament to our commitment to delivering value, efficiency, and convenience for our users.