The ultimate solution for decentralized data is Space and Time

The ultimate solution for decentralized data is Space and Time

There is a growing interest in managing and storing data through decentralized systems that do not require centralized authority. Bitget, a centralized exchange with over 8 million users, has partnered with Space and Time to improve trust in the exchange's reserves and operations. Space and Time is the first decentralized data warehouse that combines on-chain and off-chain data, and we will explore its features.

Introduction to Space and Time

Space and Time is the first decentralized data warehouse that combines on-chain and off-chain data within a secure and immutable framework. This innovative project efficiently indexes all major blockchains and standardizes the data into a relational, retrievable state. By leveraging Space and Time, developers gain the ability to integrate off-chain data from centralized sources and combine it with blockchain data into a single, seamlessly executed query.

But how is this possible, you may ask?

Through the innovative use of "Proof of SQL™" cryptography. This groundbreaking technology could open up a world of possibilities for secure, transparent, and efficient data management in industries ranging from finance and healthcare to logistics and beyond.

In 2022, Space and Time successfully raised US$10 million in seed funding led by Framework Ventures, followed by an even more impressive US$20 million in strategic funding led by M12, Microsoft's Venture Fund.

What is Proof of SQL?

Proof of SQL™ is a patented cryptography that enables a data warehouse to produce a brief non-interactive argument of knowledge (SNARK) proof for the execution of SQL queries. This cryptographic proof provides evidence that the query computation was executed precisely and that both the query and data remain tamper-proof.

With Space and Time, developers have the ability to merge on-chain and off-chain data in a secure and decentralized manner using an easy-to-understand SQL format. This combined data can then be directly loaded onto smart contracts, providing the necessary functionality for powering decentralized applications (dapps) all within a single, community-driven data platform.

Space and Time Use Cases

Space and Time offers a comprehensive suite of solutions across three main verticals: 

- DeFi: Space and Time offers a new way for developers to access real-time and historical blockchain data for use in decentralized finance (DeFi) applications. This allows for the creation of new financial instruments on-chain and provides a tamper-proof way to aggregate off-chain data.

- Enterprises: Space and Time provides a bridge from traditional enterprise systems (Web2) to the decentralized web (Web3) by allowing businesses to connect their data to major blockchain networks. This enables new use cases powered by smart contracts and provides a tamper-proof, decentralized data warehouse.

- Gaming: Web3 games can use Space and Time to combine off-chain game telemetry with on-chain ownership data, enabling features such as leaderboards and play-to-earn rewards.

Closing Thought

With the expanding use and adoption of blockchain technology, the integration of off-chain data with on-chain data is becoming progressively crucial. Space and Time, being the first decentralized data warehouse, is making significant strides in effectively managing and integrating both on-chain and off-chain data. If you're curious about blockchain and want to expand your knowledge, Bitget Academy is the perfect place for you! With a wide range of courses and resources available, you can learn everything from the basics to advanced concepts. Whether you're a beginner or an expert, Bitget Academy has something for everyone. So why wait? Head over to Bitget Academy now and start your blockchain journey today!