As a researcher with a keen interest in blockchain technology and its potential applications, I find the recent developments at Space and Time Labs truly captivating. The live testnet for their SXT Chain, backed by Microsoft Corporation, is a significant step forward in the realm of Artificial Intelligence and Decentralized Finance.
Space and Time Labs, backed by Microsoft Corporation (NASDAQ: MSFT), which provides a computational layer for Artificial Intelligence (AI), has launched a test version of its SXT Chain. Notably, Space and Time has secured $20 million in Series A funding to expedite the development and engineering of their network.
SXT Chain Goes Live in Testnet: Implication
The zero-knowledge (ZK) proof data-focused blockchain called the SXT Chain has been activated on its testing network, as announced in a press release. Developers interested in turbocharging their applications and smart contracts with a ZK-verified database can now access this testnet. Moreover, community members are encouraged to join the testing process by accomplishing SXT tasks on Galxe.
Through ZK-verified data access, developers can effectively address the hurdle of ensuring security in large-scale data management within smart contracts. This test network is designed to accommodate data-heavy applications, including on-chain credit assessment, by utilizing SQL interfaces and ZK verifications.
As a data analyst, I work with the SXT Chain, a system that gathers information from leading blockchains like Ethereum, zkSync, various EVMs, and Move chains. This data is distributed across a decentralized network of database nodes to optimize smart contract execution. With this setup, developers can easily retrieve, query, ZK-prove, and link this data to their own smart contracts using Proof of SQL, SXT’s rapid ZK coprocessor for SQL database queries.
Despite advancements in blockchain technology, it still faces limitations when it comes to handling and processing large amounts of data effectively. For example, on-chain lending protocols differ significantly from traditional lending platforms, as they offer the same interest rate to all borrowers. Additionally, smart contracts lack the ability to access trustless on-chain data like a wallet’s loan history.
As an analyst, I find that SXT, a lending protocol, offers a unique advantage: it consolidates a wallet’s on-chain loan history into a comprehensive “credit score” using an intuitive SQL interface and zero-knowledge proofs (ZK-prove). Intriguingly, projects like Lendvest, an on-chain credit scoring protocol, are already leveraging SXT within the Chainlink BUILD program.
SXT Integrates With zkSync, Chainlink, and Microsoft
In this new era of decentralized finance (DeFi), SXT, zkSync, Chainlink, and Microsoft are set to lead the charge. By combining forces with Chainlink and zkSync, these platforms aim to deliver scalable, cost-effective solutions, as well as seamless cross-chain interaction, thereby driving the next phase in the Web3 environment.
Space and Time is adopting zkSync technology to establish a Zero-Knowledge (ZK) Chain within their Elastic Chain network, which will be compatible with the SXT Chain.
The ZK rollup will function as the platform for executing smart contracts within the SXT Chain, enabling developers to deploy Solidity contracts upon SXT. Previously, SXT unveiled a sub-second ZK prover, which swiftly generates zero-knowledge proofs in less than a second, facilitating fast, trustless data validation for blockchain applications.
Furthermore, SXT intends to leverage Chainlink’s framework to offer developers an easier way to validate query outcomes executed on the blockchain using Zero-Knowledge (ZK) proofs. This partnership aims to lower transaction fees by minimizing the reliance on gas-intensive verifications within Ethereum.
Additionally, Microsoft announced in a blog post that Space and Time is collaborating extensively with its AI Innovation Lab for faster development of AI tools. This collaboration enables developers to effortlessly create blockchain-based applications.
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2024-10-30 13:03