With the rapid development of DeFi and GameFi, the related market urgently needs safe and fast decentralized enterprise-level data processing solutions. Space and Time has become the first "pathfinder" in this field.
Space and Time is a decentralized data warehouse built for blockchain applications. Through encrypted proof technology, dApps can provide low-latency data query and enterprise-scale data analysis services in a completely trustless and highly secure manner. On July 29, the company announced the completion of a $10 million seed round of financing, led by Framework Ventures, with participation from Digital Currency Group (DCG), Stratos, SamsungNext, IOSG Ventures, Alliance, and other DeFi, GameFi, and VC institutions. Thanks to this latest financing, Space and Time will accelerate the construction of its software engineering, while further improving the platform's analytical capabilities and decentralized network scale.
Space and Time has built a new "SQLTM Proof" cryptographic protocol (patent pending) that enables blockchain applications to quickly process massive amounts of data and generate As a result of insight analysis, the node operation network can perform data operations and analysis calculations after extracting data from the blockchain, decentralized applications, and off-chain systems. For the blockchain, Space and Time can greatly improve the function of querying on-chain data and off-chain data in an independent and trustless environment, and then bring more and more advanced innovative use cases to smart contracts on the chain.
Space and Time's database creates proofs of data query results off-chain, then transmits them to the verification layer and verifies the authenticity of the proofs. Once the verification is passed, the data will be uploaded to the chain and loaded into the smart contract. At this time, the dApp can access the data query result information in the smart contract in real time. Not only that, because Space and Time transfers a large amount of computing work to off-chain, the on-chain and off-chain data can be reasonably distributed in the analysis workload, and the existing blockchain infrastructure can ensure computational integrity. Expand exponentially. Space and Time co-founder Nate Holiday said:
"As Web3 business processes become more mature and automated, developers and applications need more advanced database computing services to directly connect off-chain analysis results to smart contracts. However, due to the current blockchain ecosystem The problem of system scalability makes the analysis on the chain unable to meet the needs of users, and it is difficult for the centralized data analysis platform to generate highly secure and tamper-proof analysis results. Space and Time can solve these problems by combining off-chain computing with decentralized Combined with cryptographically guaranteed data processing to meet the next-generation high-security data needs of dApp developers and enterprise users."
Lead investor, Framework Ventures co-founder Michael Anderson said:
"Many dApps still rely on centralized databases to store and calculate large amounts of complex data, which means that most DeFi and GameFi platforms are not fully decentralized. As the first data platform to provide decentralized enterprise-level real-time analysis solutions, Space and Time adheres to the core spirit of the blockchain industry, namely - building a transparent and open system. We are excited to support the Space and Time team as they develop the first scalable and scalable blockchain for the next generation of DeFi applications. Data analytics solutions for security and safety.”
It is worth mentioning that Space and Time is also an incubation project of Startup with Chainlink under Chainlink Labs. Therefore, with the support of Chainlink, the blockchain oracle service, it can combine on-chain and off-chain data to bring more high-quality data to smart contract applications. Scalable enterprise-grade use cases. Speaking about the funding round, Chainlink Labs managing director of corporate development and strategy David Post said:
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About Space and Time
Space and Time is the first decentralized data warehouse built for blockchain applications in the encryption industry. Through encryption proof technology, dApps can provide low-latency data query and enterprise-scale data analysis in a completely trustless and highly secure manner Serve.
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About Framework Ventures
Framework is a team of technologists, researchers and investors, with Framework Ventures Management LLC ("Framework Ventures") as its investment arm. Essentially, Framework is a technology company as they build products and services to support the open blockchain networks they invest in, and Framework Ventures has backed dozens of well-known companies in the DeFi and Web3 space so far.
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About Chainlink Labs
Chainlink is the "industry standard" for building, accessing, and selling the oracles needed for hybrid smart contracts on any blockchain, and its oracle network provides a way for smart contracts to connect to any external application program interface (API) and utilize the The solution for enabling applications under secure computing currently provides security for tens of billions of dollars worth of assets in DeFi, insurance, gaming, and other encrypted fields, and has become a "universal gateway" for global enterprises and data service providers.
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Disclaimer: The content of this article is not investment advice and readers should not interpret the discussion of any particular organization as a recommendation to buy or sell any securities or digital assets associated with that organization, or an offer to buy or sell.
