@SpaceandTime Guys how frequently can we verify blockchain data via an API?...
Most of the time when I’m looking at transaction volumes, trading volumes or activity within wallets, I’m looking at third party databases and APIs.
However, I have been looking into Space and Time which is a Microsoft backed blockchain focusing on ZK proven data. It uses Proof of SQL which allows developers to Inquiry the data on a blockchain and get a Zero Knowledge proof of the result. This is interesting as you can verify the result without having to do the calculation again.
This seems like a big deal for DeFi as if you are looking at a lending platform and the collateral data isn’t correct, this could impact the liquidation or payout.
The native token of Space and Time is $SXT . This can be used to pay for Inquiry fees, data uploads and staking on the network.
My biggest issue is the cost of generating proofs. Whilst verifying the proof is cheap, it can take some computing power to generate. When dealing with large amounts of data, the costs can increase. It’s also important to note that whilst you can prove a calculation was done correctly, it doesn’t guarantee the original data was true.
Can Space and Time provide an affordable way to generate proofs with more developers using it?
#sxt $SXT @SpaceandTime
Most of the time when I’m looking at transaction volumes, trading volumes or activity within wallets, I’m looking at third party databases and APIs.
However, I have been looking into Space and Time which is a Microsoft backed blockchain focusing on ZK proven data. It uses Proof of SQL which allows developers to Inquiry the data on a blockchain and get a Zero Knowledge proof of the result. This is interesting as you can verify the result without having to do the calculation again.
This seems like a big deal for DeFi as if you are looking at a lending platform and the collateral data isn’t correct, this could impact the liquidation or payout.
The native token of Space and Time is $SXT . This can be used to pay for Inquiry fees, data uploads and staking on the network.
My biggest issue is the cost of generating proofs. Whilst verifying the proof is cheap, it can take some computing power to generate. When dealing with large amounts of data, the costs can increase. It’s also important to note that whilst you can prove a calculation was done correctly, it doesn’t guarantee the original data was true.
Can Space and Time provide an affordable way to generate proofs with more developers using it?
#sxt $SXT @SpaceandTime
