Space and Time: Democratising Data for Web3
Nov 26, 2024
TL;DR
Decentralized Data Warehouse: A network of nodes that stores and processes data efficiently.
Proof of SQL: A cryptographic protocol that verifies the correctness of SQL queries.
Hybrid Transactional/Analytical Processing (HTAP): Combines the best of both worlds for efficient data handling.
Blockchain Integration: Connects to major blockchains to access real-time data.
Introduction
Data sharing is the status quo of serving the growing populace of users on the internet. Space and Time is revitalizing the way we interact with data on the blockchain. The limitations of smart contracts have hindered the full potential of DeFi and all it could be for the foreseeable future. While smart contracts have become the backbone of many innovative protocols, their inability to access and process real-world data have restricted their capabilities. Space and Time are working to get to a place where smart contracts can access and analyze vast amounts of data, enabling them to make more informed decisions and execute complex financial strategies, this being one of the many use cases should this be possible. This is the vision presented to us by Space and Time, a platform that empowers smart contracts with the power of data. Without wasting more time, let’s get to know SXT.
Understanding Space and Time
Space and Time redefines the potential of smart contracts, providing them with the ability to access and process real-world data. What makes this special is the fact that this fundamentally addresses the limitations of traditional blockchain architectures, allowing for more sophisticated and dynamic applications. By leveraging zero-knowledge proofs, the platform ensures the security and integrity of data, while also enabling efficient and scalable data processing.
At the heart of Space and Time is the decentralized data warehouse that provides a robust and reliable infrastructure for storing and processing data. This warehouse leverages advanced technologies like hybrid transactional/analytical processing (HTAP) and in-memory caching to deliver high-performance query execution. Additionally, the platform supports a variety of ZK-proof systems, including its own Proof of SQL protocol, which enables the verification of complex computations without revealing sensitive information.
By combining these powerful tools, Space and Time empowers developers to build innovative applications that can access and analyze data from both on-chain and off-chain sources. This opens up a world of possibilities, from decentralized finance to supply chain management and beyond.
Space and Time Key Features
Here’s some of the ‘key’ reasons Developers use Space and Time, this section highlights the key features the network provides, namely:
Connect indexed onchain data and your offchain data
Connect to blockchain data indexed from many chains in real time, including offchain data ingested by the user from their app or source database. These blockchain databases include: ZKsync, Bitcoin, Polygon, Ethereum, Sui, Aptos and Sei.
Transform data with SQL
Developers get to leverage SQL’s interface which is familiar in order to ask questions based on activity on-chain as well as the activity on the application. Space and Time allows you to build dashboards and analytics through the use of Space and Time Studio.
ZK-prove your query results
You can send verifiable query results directly to your Smart Contract with Proof of SQL, SXT’s sub-second ZK coprocessor.
Publish queries to smart contracts, APIs, apps, or dashboards
You can also publish datasets and queries directly to APIs, build sophisticated on-chain applications on top of SXT.
What Makes Space and Time Unique
Smart contracts currently lack the ability to access and process real-world data, limiting their functionality. Space and Time addresses this limitation by providing a database that enables smart contracts to access both on-chain and off-chain data. This allows for more complex and sophisticated decentralized applications, such as cross-chain derivatives and dynamic lending markets. By bridging the gap between the blockchain and the real world, Space and Time empowers smart contracts to unlock their full potential.
That's where PoSQL comes in. Proof of SQL is a groundbreaking cryptographic protocol that allows for verifiable, outsourced SQL execution using zero-knowledge proofs. By leveraging zero-knowledge proofs, Space and Time ensures the security and integrity of data, while also enabling efficient and scalable data processing. By combining these features, Proof of SQL enables the creation of sophisticated decentralized applications that can securely access and analyze vast amounts of data. Speaking to Cointelegraph, Jay White of SXT, co-founder and head of research, said:
“Our team pioneered sub-second ZK-proofs so that smart contracts and AI agents can ask questions about a chain’s activity, as well as off-chain data, and receive back trustless SQL query results on-chain during a transaction without having to wait for 30-minute proof times.”
“We ran benchmarks with various queries, such as filters, GROUP BYs, aggregations and other standard SQL operations against large data tables containing over 100,000 rows. The latest benchmarks show that proof of SQL can prove against 100,000 rows in under a second, one million rows in 1.2 seconds, and 100 million rows in approximately one minute.”
Technical Architecture Overview
At its core, Space and Time is a two-tier network, composed of the Validator Layer and the Data Warehouse.
The Validator acts as the brain of the operation, overseeing the entire network. It's responsible for routing queries, ensuring data security and verifying the work done by the data warehouse clusters. Think of it as the air traffic controller, directing the flow of data and ensuring everything runs smoothly.
The Data Warehouse is where the real magic happens. It's a decentralized network of clusters that store, process and serve data. These clusters are operated by independent node operators, ensuring a robust and reliable system. The data warehouse is designed to handle both high-volume transactional data and complex analytical queries, thanks to its hybrid transactional/analytical processing (HTAP) architecture.
Together, the Validator and the Data Warehouse form a powerful duo, enabling efficient and secure data processing on the blockchain.
Space and Time News Updates
Total funding to date, with some notable Partners:
Space and Time Labs Secures $20 Million Series A Funding Round, Led by OKX, Framework Ventures, and Microsoft Venture Fund among others. This increases Space and Time Labs' total funding to $50 million. This was announced on their X (Twitter) page.
Space and Time Launches SXT Chain Testnet:
Space and Time launched its highly anticipated SXT Chain testnet on 29 October 2024. This blockchain is specifically designed to support ZK-proven data, offering developers and community members a platform to explore its capabilities and contribute to its development.
zkVerify launch decentralized SQL verifier for SXT new SXT chain:
zkVerify has launched a decentralized SQL verifier for Space and Time's SXT Chain, offering several key benefits:
High-Performance: Delivering faster and more cost-effective proof verification.
Enhanced Privacy: Protects sensitive data by verifying without revealing underlying information.
Cross-Chain Compatibility: Supports data from various blockchains.
Scalability: Enables data-intensive applications to scale efficiently.
Conclusion
Space and Time's distinct approach to data processing and verification sets a new standard for the blockchain industry. By combining advanced cryptographic techniques with a decentralized architecture, the platform empowers developers to build applications that are secure, scalable and innovative, while having a significantly better data sharing experience from an interface pov. As the blockchain ecosystem continues to evolve, Space and Time will be the foundation of data driven applications in the third iteration of the worldwide web.
Join the SXT Community & stay up to date on their latest developments:
Website|Twitter|Discord|GitHub|Blog|LinkedIn
We are StakingCabin
We are blockchain enthusiasts with a passion for the decentralized world. We understand how time-consuming operating your own infrastructure can be and we want to offer our experience and knowledge in creating an easy and time-saving way for clients to safely stake their digital assets and earn rewards with us.
Similar blogs
