First Decentralized Data Warehouse, Space and Time, Raises USD 10M Seed Round Led by Framework Ventures
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Los Angeles, United States, 28th July, 2022, Chainwire
As the DeFi & GameFi sectors grow, Space and Time aims to be the first truly decentralized solution for rapid and secure data processing at enterprise scale
Space and Time TM, a decentralized data platform for blockchain applications, has raised USD 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). Additional participants in the round include Digital Currency Group (DCG), Stratos, SamsungNext, IOSG Ventures, Alliance and several market leading DeFi, GameFi, and venture organizations.
With a novel, patent-pending cryptographic protocol dubbed Proof of SQLTM, Space and Time enables blockchain applications to rapidly generate rich, analytical insights in an entirely decentralized, scalable, and secure manner. A network of node operators pull data from blockchains, decentralized applications (dApp), and off-chain systems in order to perform operational and analytic computations. As a result, blockchains are supplemented with capabilities for querying both on-chain and off-chain data in a single, trustless environment to power advanced new use cases for smart contracts.
Space and Time’s database creates proofs of the query results off-chain and transmits them to a validation layer where they are verified to be true. Once validated, the data is loaded back on-chain to the smart contracts where the dApp can access the results in real time. By moving the bulk of computational work off-chain, and enabling on and off-chain data to be combined in analytic
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