KYVE

In particular, KYVE is a network through which discrete items of information arrive; they are then standardized, combined, permanently stored and checked. Arbitrary queries for the aggregate expression of these elements are possible. The data remains available indefinitely.

We are doing to data what Blockchain did to Finance

We are making data trustless

With the acceleration of internet usage in the last 20 years, data and trust have become focal points of the next major tech evolution.

Currently, the problem with most blockchains is scalability. As the number of blockchain users grows, the number of transactions increases, and the database is constantly expanding. This slows down the speed of transactions, which leads to a drop in the popularity of the blockchain. Part of the solution to this problem was found in the creation of a two-level blockchain, where Layer 2 helps to increase the speed of transactions. However, in the future, Layer 2 will still not have enough power with the ever-increasing growth in transactions.

The KYVE platform has found a solution to this problem in the “archiving” of data.

Instead of a standard mechanism for sending information, KYVE proposes to archive data and place it in a decentralized repository, with open access for everyone.

For example, the blockchain has a lot of stored transactions in the form of blocks that no one needs anymore, but at the same time they are necessary to verify the blockchain itself. If developers use the KYVE platform, then it will take part of this data, check it for authenticity, archive it and conduct initial standardization. The data will then be hosted on decentralized servers, allowing blockchain owners to use “archives” rather than complete information when sending information. Thus, such “archiving” allows, instead of sending the entire chain, to send already compressed and saved data fragments.

of interest. In our scenario, the data-source is a blockchain, with an instruction that will detail protocol-specific fetching logic to facilitate block retrieval by a pool’s uploader.

Once these first steps are complete, the pool is “open for business”. Typically, the creator of the pool will join the pool itself and begin to fetch data from the defined data-source, thus becoming the designated uploader. It is important to note that staking a quantity of $KYVE against the pool is necessary for entry and acts as an expression of good faith.

Pools are flexible. Any node can switch roles between being an uploader and a validator if need be. As additional pool participants wish to join the pool and become an uploader or a validator, they too must stake $KYVE to enter, ensuring skin-in-the-game and aligned incentives. Staked tokens ensure that uploaders and validators must now behave honestly and ensure availability, or else staked tokens will be slashed.

With everything in place, the pool is set in motion. Blockchain data is fetched and stored permanently on Arweave. Thereafter, Arweave ensures the durability and availability of this data. Uploaders and validators receive a payout of $KYVE at set intervals and continue to accumulate and validate new data elements as the blockchain state grows over time.

Blockchain technology came along and provided a solution to centralization problems by offering a decentralized and user-verified solution. With this exciting new technology comes underlying issues such as the storage and accessibility of the rapidly growing amount of data. At full capacity, Solana is expected to produce the equivalent of 4 Petabytes of data/year.

Now, nodes wishing to join the blockchain network and sync with its latest state can do so more quickly than before. Data streams are reduced into snapshots with guaranteed availability. Additionally, a query interface is included out of the box to simplify requirements around syncing.

Backers

A decentralized archival framework

One solution for all blockchains

We’re proud to share that we have collaborated and integrated with major blockchains, including Arweave, Avalanche, Cosmos, Polkadot, and Solana.

Pools can be created by anyone, configured to pull data from anywhere and organize day-to-day operations between network members. Each pool takes the form of a decentralized autonomous organization (DAO) that runs on SmartWeave, the Arweave smart contract language. Node operators are synonymous with pool members that organize to receive data streams, perform calculations on them, and write the results to Arweave. When certain criteria are met, the pools also distribute $KYVE tokens to designated uploaders and validators.

Only one uploader role is selected per pool. Uploaders extract data from the source, execute instructions that may include a calculation step, and write that data to Arweave. If the validators find that the uploader is violating their terms, the uploader's rate is reduced. In this case, a validator is chosen to replace the uploader. The same process occurs if the download node is disabled for any reason.

Once these first steps are complete, the pool is “open for business”. Typically, the creator of the pool will join the pool itself and begin to fetch data from the defined data-source, thus becoming the designated uploader. It is important to note that staking a quantity of $KYVE against the pool is necessary for entry and acts as an expression of good faith.

The KYVE project itself has attracted interest from large companies, showing how important the problem that the platform solves is. In the second investment round, which ended in October 2021, Hypersphere Ventures and Permanent Ventures became the main investors in the project. Also among the investors were Mechanism Capital, Compute Ventures, Volt Capital, Coinbase Ventures, 4SV, Distributed Global, Zee Prime, Flori Ventures (Celo’s venture arm), CMS Holding, Ternary Capital, Mina Foundation, Composable Finance, Octopus Network.

PoC Governance

Improve network stability

Improve slashing mechanisms

Continued Integrations with L1s and L2s

Incentivised Testnet

Continued Integrations with L1s and L2s

TGE

DEX/CEX Listing

Mainnet Launch

Governance and Data Indexing Launch

Continued Integrations with L1s and L2s