First Decentralized Data Warehouse, Space and Time, Raises $10M in Funding Round Led by Framework Ventures

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Space and Time TM, a decentralized data platform for blockchain applications, raised $10 million in a seed round led by Framework Ventures, a venture capital firm known for its early entry into decentralized finance (DeFi) and blockchain gaming (GameFi). Other participants in the round include Digital Currency Group (DCG), Stratos, SamsungNext, IOSG Ventures, Alliance, and several market-leading DeFi, GameFi, and venture capital organizations.

Real-time, enterprise-grade analytics

With a new patent-pending cryptographic protocol called Proof of SQLTM, Space and Time enables blockchain applications to quickly generate rich analytical insights in a fully decentralized, scalable, and secure way. A network of node operators extracts data from blockchains, decentralized applications (dApps), and off-chain systems to perform operational and analytical calculations. As a result, blockchains are complemented with on-chain and off-chain data querying capabilities in a single, trustless environment to power new advanced use cases for smart contracts.

Space and Time’s database creates proofs of off-chain query results and passes them to a validation layer where they are verified. Once validated, the data is reloaded on-chain into the smart contracts where the dApp can access the results in real time. By moving most of the computational work off-chain and allowing on- and off-chain data to be combined in analytical workloads, Space and Time enables existing blockchain infrastructure to scale exponentially while confidently maintaining the integrity of calculations.

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

“As Web3 business process and automation matures, developers and applications need advanced database computations to connect off-chain analytics directly to smart contracts. However, the scalability of the current blockchain ecosystem makes on-chain analytics impossible, and existing centralized analytics platforms fail to generate secure and tamper-proof results. By pairing off-chain computation with a decentralized, cryptographically backed data process, Space and Time will securely power next-generation data requirements for developers and dApp companies.

Funds from this round will be used to continue to develop Space and Time’s engineering and advance the platform’s analytical capabilities and decentralized network.

Framework Ventures co-founder Michael Anderson 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 offer a fully decentralized solution for enterprise-scale, real-time analytics, Space and Time is truly committed to the fundamental blockchain philosophy of being a system transparent and open. We are excited to support the Space and Time team in developing the first scalable and secure analytics solution for the next generation of DeFi applications. »

Incubated as part of Chainlink Labs’ Startup with Chainlink program, Space and Time is a decentralized data platform that uses Chainlink to combine on-chain and off-chain data to bring extended enterprise-grade use cases to smart contract applications.

space and time is the first decentralized data warehouse for blockchain applications. Using cryptographic proof technology, Space and Time enables decentralized applications (dApps) to deliver low-latency queries and enterprise-scale analytics in a completely trustless and security-secure manner. blockchain.

Framework is a team of technologists, researchers, and investors who buy assets, build for, and participate in open crypto networks. At its core, Framework is a technology company that creates products and services to support the open blockchain networks in which it invests. Through its registered investment adviser, Framework Ventures Management LLC (“Framework Ventures”), the firm has backed dozens of notable companies. in decentralized finance and the Web3 space.

Chainlink is the industry standard for creating, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations to enable feature-rich applications. Chainlink currently secures tens of billions of dollars in DeFi, insurance, gaming, and other major industries, and provides global enterprises and major data providers with a universal gateway to all blockchains.

Disclaimer: This is not investment advice and readers should not construe discussion of any particular organization as a recommendation to buy or sell, or a solicitation of an offer to buy or sale, securities or digital assets related to this organization.

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