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What is KYVE Network (KYVE)? KYVE . Cryptocurrency Details

KYVE Network what?

KYVE Network is a next-generation protocol that allows data providers to reliably store and verify their data streams seamlessly.

What is kyve network?

Once the data is stored, it can be easily retrieved using KYVE's query interface. KYVE's authentication and Arweave's immutability, combined, ensure data integrity to the underlying users.

KYVE Network What's special?

The Arweave community has also developed its native smart contract framework: SmartWeave.

Watch now: What is Arweave (AR)? AR . Cryptocurrency Details 

SmartWeave is a client-side system, a key differentiator from any other type of smart contract architecture, including EVM.

Due to its scalability, immutability and availability, Arweave is the ultimate solution for data storage. KYVE Network believes that the two technologies complement each other:

  • KYVE provides data validity, while Arweave provides us with data availability.
  • Thanks to Arweave, data cannot be lost, and with KYVE, the data stored cannot be wrong.

KYVE solves SmartWeave scalability issue:

While SmartWeave is highly decentralized, it comes with a significant downside. Its client-side implementation leads to long-term scaling problems. Imagine a contract with thousands of interactions. Every time a client wants to calculate the latest state of the contract, they need to perform each interaction that has occurred before.

For large contracts, this process alone can sometimes take several minutes. KYVE nodes can calculate the latest state for the client and make it available to other users. Securing uploaded state with staked KYVE token ensures security and maintains decentralization. Furthermore, this process allows users to retrieve the latest state of any smart contract within seconds.

KYVE Tokenomics

Key Metrics

  • Ticker: KYVE.
  • Blockchain: Ethereum.
  • Contract: Updating…
  • Token Standard: ERC-20.
  • Token Type: Utility, Governance.
  • Circulating Supply: Updating…
  • Total Supply: 1,000,000,000 KYVE.

Token Allocation

kyve token

Token Release Schedule

kyve network token release

Token Use Case

  • Governance: With KYVE, users can participate in governance, vote on which pools can be created, control the treasury, make new proposals to improve the protocol, and more.
  • Funding: Storage pool requires funding in KYVE and can be provided by anyone. Funds are paid to the active protocol nodes in the pool and also what allows users to access data. If a pool runs out of money, it stops.
  • Staking: Storage pool requires protocol nodes to upload and validate data. To ensure that nodes upload correct data and authenticate truthfully, nodes must stake KYVE. Nodes are rewarded with KYVE based on their stake amount.
  • Delegation: By delegating a node, you help secure the network. Delegation is a form of staking that does not require you to run your own node. Delegating supporting protocol nodes also allows users to generate rewards. At KYVE, you can delegate both the protocol and the chain node, giving you multiple ways to earn rewards for your tokens.

Token Sale

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KYVE storage wallet token

Can be stored on Coin98 Wallet.

Enter Coin98 Wallet Referral ID as “C98NBDN89Q" to support BTA.

KYVE Network Team

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Investors

At the end of June, the project announced the third round of fundraising with $6 million. The round was led by key players such as Distributed Global, Wicklow Capital, IOSG Ventures, Anagram (Joseph Eagan & Lily Liu), Cerulean Ventures, Huobi Incubator and MEXC.

The previous second round of funding was led by Permanent Ventures and Hypersphere Ventures. as well as prominent crypto funds and networks such as Volt Capital, Mechanism Capital, Coinbase Ventures, Distributed Global, 2SV, etc.

kyve-investors

Partners

Near Protocol, Avalanche,…

Roadmap

kyve network roadmap

About KYVE Network

Summary

Hope the basic information about the project will help you get an overview of the project and please consider the article for reference purposes as it is not investment advice.

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