Framework Ventures leads a USD 10 million seed round for Space and Time, the first decentralized data warehouse.

Jamie Larson

• 3 min read
Framework Ventures leads a USD 10 million seed round for Space and Time, the first decentralized data warehouse.

Space and Time intends to be the first really decentralized solution for quick and safe data processing at corporate scale as the DeFi & GameFi industries expand.

A venture capital firm recognized for its early forays into decentralized finance (DeFi) and blockchain gaming has raised USD 10 million in a seed round for Space and Time TM, a decentralized data platform for blockchain applications (GameFi). Digital Currency Group (DCG), Stratos, SamsungNext, IOSG Ventures, Alliance, and several industry-leading DeFi, GameFi, and venture organizations are additional investors in the round.

Space and Time's Proof of SQLTM cryptographic technology, which has a novel patent application filed on it, enables blockchain applications to quickly produce rich, analytical insights in a completely decentralized, scalable, and safe manner. To carry out operational and analytical computations, a network of node operators pulls data from blockchains, decentralized apps (dApp), and off-chain services. As a result, to support cutting-edge new use cases for smart contracts, blockchains are enhanced with the ability to query both on-chain and off-chain data in a single, trustless environment.

The query results are proves off-chain by the Space and Time database, which then sends them to a validation layer where they are authenticated. After being verified, the data is stored back onto the blockchain into the smart contracts so that the dApp can access the outcomes immediately. Space & Time enables the present blockchain infrastructure to extend exponentially while trustlessly retaining computation integrity by off-chaining the majority of computational effort and allowing on and off-chain data to be blended in analytical workloads.

“As the Web3 business process and automation matures, developers and applications require advanced database computations to connect off-chain analytics directly to smart contracts,” said Nate Holiday, co-founder of Space and Time." However, the current blockchain ecosystem's lack of scalability prevents on-chain analytics, and centralized analytic platforms now in use are unable to produce data that are secure and impervious to manipulation. Space and Time will safely fuel the next-generation data requirements for dApp developers and organizations by marrying off-chain compute with a decentralized and cryptographically-guaranteed data process.

The money raised in this round will be utilized to keep building out Space and Time's engineering team and develop the platform's decentralized network and analytical capabilities.

“Because many dApps still rely on centralized databases to store and compute large amounts of complex data, most DeFi and GameFi platforms are not fully decentralized,” said Michael Anderson, Co-Founder of Framework Ventures. Space and Time "really commits to the underlying idea of blockchain to be a transparent and open system". As the first data platform to offer a totally decentralized solution for enterprise-scale analytics in real-time. The Space and Time team is creating the first scalable and secure analytics solution for the upcoming DeFi applications, and we are happy to support them in this endeavor.

Space and Time is a decentralized data platform that uses Chainlink to connect on-chain and off-chain data to deliver broader, enterprise-grade use cases to smart contract applications. It was developed as part of Chainlink Labs' Startup with Chainlink initiative.

"A number of leading companies in the sector have invested in the Space and Time team's successful seed round raise, so congrats to them, said David Post, managing director of corporate development and strategy at Chainlink Labs. "Space and Time's decentralized database will enable more sophisticated smart contract use cases and grow the blockchain ecosystem thanks to its new data processing and cryptographic proof methods."

Visit https://www.spaceandtime.io/ for additional information, and follow the team on Twitter @SpaceandTimeDB.

About Space and Time

The first decentralized data warehouse for blockchain applications is called Space and Time. Space and Time enables decentralized apps (dApps) to deliver low-latency queries and enterprise scale analytics in a completely trustless and blockchain-secure way using cryptographic proof technology.

Visit https://www.spaceandtime.io/ for additional information, and follow the team on Twitter @SpaceandTimeDB.

About Framework Ventures

A group of technologists, academics, and investors called Framework invests in, builds for, and uses open crypto networks. Framework is primarily a technological company that develops goods and services to support the open blockchain networks they finance. The company has sponsored dozens of well-known businesses in the decentralized finance and Web3 sectors through its registered investment adviser, Framework Ventures Management LLC ("Framework Ventures").

Visit https://framework.ventures for more information.

For developing, gaining access to, and offering oracle services required to support hybrid smart contracts on any blockchain, Chainlink is the industry standard. Smart contracts can use Chainlink oracle networks to connect securely to any external API and use safe off-chain calculations to provide feature-rich apps. Currently, Chainlink protects tens of billions of dollars across the DeFi, insurance, gambling, and other significant industries. It also provides premier data providers and multinational corporations with a common gateway to all blockchains.

Visit chain.link or the developer documentation at docs.chain.link to learn more about Chainlink. Contact a specialist to go over an integration.

Disclaimer: This is not investment advice, and readers should not take any information on a specific company as a recommendation to buy, sell, or solicit an offer to buy, sell, or otherwise handle securities or digital assets relating to that company.

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