KYVE: making data reliable
KYVE is a decentralized archiving and caching solution that allows blockchains and dApps to store and serve data reliably.
KYVE is a web3 protocol that enables data providers to standardize, validate, and permanently store data streams. By leveraging Arweave, the solution ensures the scalability, immutability, and availability of these resources over time, and by using Moonbeam smart contracts, KYVE is EVM compatible.
KYVE is backed by Hypersphere Ventures, Coinbase Ventures, Mechanism Capital, CMS Holdings, and blockchains such as Arweave, Avalanche, Solana, Interchain, and NEAR.
What problems does KYVE solve?
Blockchain technology came along and provided a solution to centralization problems by offering a decentralized and user-verified solution. Data is a highly crucial element of any project. Currently there are almost no projects that provide flexible and structured data access on different blockchains without requiring custom development work. With this exciting new technology comes underlying issues such as the storage and accessibility of the rapidly growing amount of data.
What is KYVE’s solution for these issues?
So, KYVE is going to make it possible to store and validate limitless amount of data. KYVE is a fully decentralized protocol that can store any kind of data on Arweave. Arweave is a protocol that offers permanent and decentralized storage
“Arweave is a new type of storage that backs data with sustainable and perpetual endowments, allowing users and developers to truly store data forever — for the very first time.” Arweave
Due to its scalability, immutability, and availability, Arweave is the go-to solution for data storage. Nonetheless, data availability does not equal data validity. Therefore, we see KYVE and Arweave as complementary: while KYVE provides reliable data validity, Arweave, in contrast, focuses on data availability (replicability).
The project has already successfully partnered with major blockchains such as Cosmos, Polkadot, Solana, Near Protocol. Our goal is to continue to integrate more Layer 1s and Layer 2s throughout the blockchain ecosystem, spreading our solution and increasing the ability of high scalability for all.
$KYVE
$KYVE is the native currency of the KYVE blockchain. On a chain level, $KYVE is used for staking and delegating, securing the network through Proof of Stake. Furthermore, $KYVE is used on the protocol level for funding, staking, and delegating, incentivizing participants to behave accordingly. By staking and slashing $KYVE, the system ensures participants behave in harmony with the pools’ objectives, punishing misbehavior and rewarding valid entries Discover more on how KYVE works by visiting our docs.
Get in touch with KYVE Network:
Web: https://www.kyve.network/
Discord: https://discord.gg/kyve
Twitter: https://twitter.com/KYVENetwork