Decentralized Web3 data service Space and Time has tapped into zero-knowledge proof (ZK-proof) technology to cryptographically verify information queries within its ecosystem.
The company’s proprietary Proof of SQL allows the platform to generate a SNARK cryptographic proof of a query within its decentralized data network, allowing users to trust that a data query is accurate and has not been manipulated.
Space and Time intends for the service to provide tamper-proof on-chain and off-chain data to blockchain services, advanced computing, artificial-intelligence and large language models. Space and Time co-founder Jay White told Cointelegraph that the innovation could prove useful across a range of blockchain-based solutions including financial services, retail, healthcare and gaming:
“We believe that data will enhance the interoperability between the on-chain and off-chain ecosystems, fostering greater collaboration between decentralized and traditional systems.”
Proof of SQL will enable decentralized applications (DApps) to run a query to Space and Time’s data warehouse and create a roll-up of the result to a smart contract. The Proof of SQL ensures trustless, but verified, proofs of data that are efficient and privacy-preserving.
The firm notes that the service could provide significant value to industries where monetary value is directly linked to data, with financial services a prime example.
Related: Are ZK-proofs the answer to Bitcoin’s Ordinal and BRC-20 problem?
The company also sees potential in the technology to verify that large language models were trained on accurate, tamper-proof data. This could become an important aspect as tools like OpenAI’s ChatGPT become integrated in business processes.
Space and Time’s service includes a blockchain data indexing service that features pre-built Web3 APIs that allow DApps to access real-time data from Ethereum, Polygon, BNB Chain, Sui and Avalanche’s blockchains. The platform also integrates with Chainlink oracles and decentralized storage platforms.
Space and Time’s Proof of SQL is currently being used by credit-scoring blockchain protocol Lendvest. The service calculates an on-chain credit score based on a user’s on-chain and off-chain financial data.
According to Lendvest founder Joshua Gottlieb, Proof of SQL is being used to prove that credit scores are verified, calculated correctly and associated with a correct wallet address.
The system is intended to allow Decentralized Finance (DeFi) lending platforms to algorithmically establish the risk profile of a user, which is aimed at improving returns for both users and DeFi protocols.
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Title: Decentralized Web3 data service taps ZK-proofs for tamper-proof SQL queries
Sourced From: cointelegraph.com/news/decentralized-web3-data-service-onboards-zkproofs
Published Date: Wed, 02 Aug 2023 16:47:31 +0100
