With our increasing positive impact on both the Web2 and Web3 data spaces, we’re thrilled to share thatKYVE Networkhas been nominated for HackerNoon’s annual Startup of the Year Award in Frankfurt, Germany!
For the Hackers that are new here, let us introduce KYVE Network: an ensemble of customizable, secure data tooling for decentralizeddata validation, immutability, and free retrieval. With KYVE, developers, node runners, data analysts, and more no longer need to worry about tedious querying or relying on centralized, paid, non-validated solutions when building with on- or off-chain data.
Read further to learn more about KYVE Network and how we aim to make trustless data a public good, eliminating major data roadblocks and hazards for today’s builders.
Discover KYVE Network
KYVE Network is revolutionizing customized access to on- and off-chain data by providing fast and easy tooling for decentralized data validation, immutability, and retrieval. Its data lake archives and validates data in a decentralized way, making trustless data easily accessible via solutions like KYVE’s Data Pipeline.
This past year KYVE has gained major support, currently backed by top VCs, including Hypersphere Ventures, Coinbase Ventures, Distributed Global, Mechanism Capital, CMS Holdings, IOSG Ventures and blockchains such as Arweave, Avalanche, Solana, Interchain Foundation, and NEAR.
Hey! I’m Fabian, Co-Founder of KYVE Network. I started my journey as a tech lead in a local ed-tech startup. Then, a hackathon in 2019 started my fascination for Web3, six months later, founding my first successful project ArVerify, an on-chain verification system that saw big adoption in the Arweave Ecosystem.
Shortly after, in 2021, I co-founded KYVE, a decentralized data lake, with John Letey. Ever since, we have been working heads-down with our team to bring forward an entire network of data tooling solutions possible to help provide data users and builders with the data they need in a pre-validated and secure way. So far, gaining support from blockchains such asPolkadot, Cosmos, Solana, Avalanche, and more.
How We’re Disrupting the Data Infrastructure Industry
KYVE Network is disrupting the data infrastructure industry by addressing two critical aspects: data accessibility and data validity. All projects rely heavily on data, and any inaccuracies or inconsistencies in the data can significantly impact the success of those projects.
In terms of data accessibility, most data is stored in centralized servers, making it susceptible to manipulation, hacking, and overall less trustworthy. This centralized storage also comes with high costs, as exemplified by Solana’s blockchain data, which produces four petabytes per year. KYVE Network provides a solution by making any requested deterministic data trustless and free andeasy to access. This eliminates the scalability roadblocks faced by developers, node runners, data engineers, and data analysts, ensuring they have access to the data they need without the risky reliance and exorbitant costs associated with centralized storage.
Regarding data validity, bringing data onto the blockchain introduces the risk of hacking or tampering, which can lead to incorrect data being used in various applications, such asthe oracle problem. KYVE Network tackles this challenge by providing decentralized data validation. By validating data in a decentralized manner, thanks to our network of validators, KYVE ensures the integrity and accuracy of the data, mitigating the risks introduced by incorrect or outdated information. This ensures that protocols and users can rely on the data they import, reducing the potential risks associated with using unreliable or tampered data.
What sets KYVE Network apart from other startups in the data space is our distinct approach to decentralized data validity. Currently, we have no direct competition in providing trustless data validation and have the ability to seamlessly integrate with other data infrastructure protocols to provide this service, enabling KYVE to adapt to the unique requirements of data users and ecosystems as a whole.
Our Predictions/Thoughts on the Data Infrastructure Industry in 2023
In 2023, the Data Infrastructure Industry is poised for significant advancements and transformations. At KYVE Network, we foresee several key trends and changes that will shape the industry in the coming months and beyond…
Firstly, we anticipate a growing recognition of theimportance of trustless data validation and accessibility. With the increasing adoption of decentralized technologies like blockchain and Web3, the demand for reliable and secure data infrastructure will soar. As a result, we expect to witness a surge in innovative solutions that address data validity and accessibility challenges head-on. KYVE Network is at the forefront of this movement, offering a decentralized data validation platform that ensures the integrity and trustworthiness of data.
Moreover, we believe there will be a shift towardsgreater interoperability and collaboration within the data ecosystem. As more projects and protocols emerge, there is a pressing need for seamless integration and compatibility. In response, KYVE Network is actively working towards enhancing our interoperability capabilities, enabling data users to leverage our platform alongside other data infrastructure protocols to best fit their needs. This collaborative approach will foster a more interconnected and efficient data ecosystem, enabling each project to truly focus on what they do best, unlocking new possibilities for Web3 as a whole.
We believe the state of the Data Infrastructure Industry in 2023 can be best described as “ever-evolving.”
Despite persistent roadblocks in data validity and accessibility, projects across the industry are continuously evolving to address these challenges. At KYVE, we are going to the root of these issues (that beingdata validity and accessibility) to provide innovative solutions that enable a truly scalable and secure Web3 data infrastructure. Together, we will build toward a truly trustless and secure future for the data infrastructure industry.
Why we decided to participate in HackerNoon’s Startup of the Year awards
At KYVE Network, we believe that collaboration is the key to unlocking the true potential of Web3. We’re thrilled to be participating in HackerNoon’s Startup of the Year awards, as it provides us with the opportunity to connect further with data users and industry enthusiasts.
In recent months, we’ve achieved major development milestones, including a highly successful incentivized testnet with over40,000 unique users, the recent launch of our mainnet with over150 active nodes, and the overall growth of our international community to over150,000 members. Moreover, we’re thrilled to witness an expanding ecosystem of projects building on our devnet, showcasing the collaborative spirit and innovation that drives our community.
By participating in this awards event, we aim to further spread our mission of revolutionizing data access and validation by reaching more data users and potential partners.
Final Thoughts
We’re just getting started in making an impact on the data infrastructure industry and look forward to bringing more innovations to the data space, aiding all data user types and builders. Accessing truly valid data for free should not be a roadblock when creating the project of your dreams. KYVE is here to make this a reality.
Join us in making truly trustless data a public good, securing Web3’s data infrastructure for the better!
Join KYVE’s community:Twitter|Discord|Telegram
Written by Margaux Stancil, Head of Marketing at KYVE.