HomePRESS RELEASEThe First Decentralized Data Warehouse - Space and Time...

First Decentralized Data Warehouse – Space and Time successfully raised 10 million USD in Seed Round

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At a time when the DeFi & GameFi sector is booming, Space and Time aims to be the first truly decentralized solution for fast and secure data processing at enterprise scale.

Space and Time TM – a decentralized data platform for blockchain applications – has raised $10 million in a seed round led by Framework Ventures. (Framework Ventures is a venture capital firm. They are famous for getting into DeFi and GameFi finance very early.) Other investors in the seed round include Digital Currency Group (DCG), Stratos, SamsungNext, IOSG Ventures, Alliance, several DeFi & GameFi ventures and some of the market leading venture capitalists.

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With a new patent-pending cryptographic protocol called Proof of SQLTM, Space and Time enables blockchain applications to quickly generate rich, detailed analytics in a completely decentralized, secure way. complete and extensible.

In addition, the network allows node operators to pull data from blockchains, decentralized applications (dApps), and off-chain systems to perform analytics and operational computations. As a result, blockchains are added with capabilities to query both on-chain and off-chain data in a single, free-flowing environment to provide enhanced new use cases for smart contracts.

The Space and Time database generates proofs of query results off-chain and transmits them to the validation layer, where they are verified to be correct. Once validated, the data is reloaded into smart contracts, where the dApp can access the results in real time. By moving the majority of computation work off-chain and allowing on-chain and off-chain data to be incorporated in analytics, Space and Time allows existing blockchain infrastructure to scale exponentially. while reliably maintaining computational integrity.

Nate Holiday, co-founder of Space and Time said:

“As Web3 automation and business processes mature, developers and advanced applications require database compute to connect off-chain analytics directly to smart contracts.

However, the scalability in the current blockchain ecosystem makes on-chain analysis impossible, and existing centralized analytics platforms cannot provide secure, tamper-proof results. By combining off-chain computation with cryptographically secured and decentralized data workflows, Space and Time will ensure the security and transparency of next-generation data requirements for businesses and developers. dApp development”.

The funds raised from this round will be used to further expand Space and Time's engineering, while further enhancing the platform's decentralized network and analytics capabilities.

Michael Anderson, Co-Founder of Framework Ventures said:

“Because many dApps still rely on centralized databases to store and compute large amounts of complex data, most DeFi and GameFi platforms are not fully decentralized.

As the first data platform to provide a completely decentralized solution for real-time enterprise-scale analytics, Space and Time is truly committed to the core characteristics of blockchain as a transparent and open. We are excited to support Space and Time in its journey to develop the first scalable and secure analytics solution for the next generation of DeFi applications.”

Incubated as part of the Chainlink Labs' Startup program, Space and Time is a decentralized data platform that uses Chainlink to combine on-chain and off-chain data to deliver scalable use cases. enterprise for smart contract applications.

David Post – Managing Director, Business Development and Strategy at Chainlink Labs said

“Congratulations to the Space and Time team for successfully raising a seed round with investments from leading companies in the industry. Through new data processing technologies and cryptographic algorithms, Space and Time's decentralized database will help expand the blockchain ecosystem and unlock more advanced smart contract use cases."

To learn more, please visit https://www.spaceandtime.io/ and follow the team on Twitter @SpaceandTimeDB.

About Space and Time

Space and Time is the first decentralized data store for blockchain applications. Using cryptographic algorithm technology, Space and Time empowers decentralized applications (dApps) to deliver low-latency queries and enterprise-scale analytics in a completely free, open way. and secure on the blockchain.

To learn more, please visit https://www.spaceandtime.io/ and follow the team on Twitter @SpaceandTimeDB.

About Framework Ventures

Framework is a group of technologists, researchers and investors; people who buy, build, and participate in open cryptocurrency networks. At its core, the Framework is a technology company, building products and services to support the open blockchain networks it has invested in. Through its registered investment advisor, Framework Ventures Management LLC (“Framework Ventures”), the company has supported dozens of notable projects in the decentralized finance and Web3 space.

To learn more, please visit https://framework.ventures.

About Chainlink Labs

Chainlink is an industry standard for building, accessing, and selling oracle services needed to power smart contracts incorporated on any cblockchain. The Chainlink oracle network provides smart contracts that are connected to any external API and leverage secure off-chain computations to enable feature-rich applications. Chainlink currently secures tens of billions of dollars for DeFi, insurance, gaming and other key industries, while providing global businesses and leading data providers with a common gateway for all cblockchains.

Learn more about Chainlink, please visit chain.link or read the developer documentation at docs.chain.link.

Contact Space and Time Team marketing@spaceandtime.io

Disclaimer

The opinions expressed above by Blogtienao are not investment advice. Before making any high-risk investments in cryptocurrencies or digital assets, investors should conduct extensive research. Please note that any transfers and transactions are entirely at your own risk and we will have no liability for any loss you may experience. We are not financial advisors. Please note that this is a marketing article only. Hope readers will continue to support Blogtienao. Best regards!

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