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DeFi Platform Space and Time Pulls $10m in Series A Funding

Decentralised Finance (DeFi) startup Space and Time has pulled $10 million in a Series A funding round as the firm seeks to develop its one-in-a-kind cryptographic protocol called proof-of-SQL.

The funding round was led by Framework Ventures and enjoined participation from Digital Currency Group, Stratos, Hashkey Group, IOSG Ventures, STARDUST, and Bitscale Capital amongst others. Built on the SQL database querying language, Space and Time’s Proof-of-SQL is billed to allow blockchain applications to rapidly generate analytical insights in a decentralised, low-cost and secure way.

The startup was incubated as a part of the Chainlink Labs incubation program. Per its design, Space and Time uses Chainlink Oracle and other systems to pull out data that it processes off-chain, by-passing the associated gas fees and low throughput consistent with blockchain protocols. Once the data is processed, the protocol then transmits the results to a validation layer where they can be verified.

Following its verification, the data is sent back on-chain, and here is where the blockchain protocol requesting the data can pull it out.

“A key issue with decentralised applications is having to work with centralised databases that have the ability to tamper with data,” said co-founder and CEO Nate Holiday. “Users can see data coming in but cannot tell if anyone has added information to that data, which could be done in a malicious way. The proof-of-SQL model would show users evidence of any tampering, such as if someone changed the query results in the middle of the query.”

Developing a new protocol is one of the major things that distinguish startups in the digital currency ecosystem and accounts for why some investors have chosen to keep bankrolling protocols proven to have the right infrastructure even in this crypto winter. Just like Space and Time, Magic Eden comes off as one of the many firms that have landed venture capital funding in the past few months.

Bitget Becomes the First Centralized Exchange to Offer Financial Transparency Through Space and Time

Victoria, Seychelles, 27th March, 2023, Chainwire

Bitget, the largest crypto copy trading platform, has announced a strategic partnership with Space and Time (SxT), a leader in decentralized data warehousing. The partnership will enable Bitget to offer users unparalleled transparency of exchange operations with a verifiably tamperproof audit trail of data and computation.

Bitget is the first centralized exchange to leverage a decentralized data warehouse. The trustless Space and Time platform will provide Bitget users with verifiable evidence that the exchange holds the assets it claims to own on behalf of its clients. Bitget users will also have full transparency about the exchange’s activity, liquidity, assets, and liabilities with the assurance that the data and computation powering the exchange are accurate and haven’t been tampered with.

Bitget has launched its Proof of Reserves Page to demonstrate to users that it is a full-reserve exchange. Bitget’s Proof of Reserves (“PoR”), which uses the cryptographic-audited Merkle tree method, will also validate that users’ assets stored on the platform are safeguarded. To support further transparency, the exchange will work with Space and Time, which allows Bitget to provide proof of accounting and assure its users that all exchange operations are both valid and verifiable. Total reserve ratio is 231% according to the data as of Mar 6th 2023, which means Bitget holds more than 100% of the users’ total assets (BTC, ETH, USDT, USDC).

“Bitget strives to be the all-in-one global trading platform, and our partnership with Space and Time highlights our commitment to that,” said Gracy Chen, Managing Director of Bitget. “More than ever, users want to see transparency from exchanges. Bitget is first to work toward transparency of proof of accounting and operations through Space and Time. We aim to inspire people to embrace crypto with more protection, transparency and security, which serve as pillars for building a robust platform.”

Space and Time is the first decentralized data warehouse that joins tamperproof on-chain and off-chain data. Space and Time has developed a novel cryptography called Proof of SQL that cryptographically proves that query computations were done accurately and that both the query and the data are tamperproof.

“Space and Time is building the foundation for a verified and transparent financial economy,” said Nate Holiday, CEO and Co-Founder of Space and Time. “We’re thrilled to work with Bitget to provide market-leading proofs for accounting and verifiability of operations. This partnership marks a new era of transparency for centralized businesses.”

Bitget will leverage the Space and Time data warehouse to run verifiable computations against verifiable on-chain and off-chain data. The transparency enabled by Space and Time will help Bitget strengthen the trust it has built with its growing user base as it continues to expand its product offerings to become a one-stop investment solution.

About Bitget

Bitget, established in 2018, is the world’s leading cryptocurrency exchange with futures trading and copy trading services as its key features. Serving over 8 million users in more than 100 countries and regions, the exchange is committed to helping users trade smarter by providing a secure, one-stop trading solution. It also inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi, the leading Italian football team Juventus, and official eSports events organizer PGL. According to Coingecko, Bitget is currently a top 5 futures trading platform and a top 10 spot trading platform.

For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord

About Space and Time

Space and Time is the first Web3-native decentralized data warehouse that joins tamperproof on-chain and off-chain data to deliver enterprise use cases to smart contracts. Space and Time has developed a novel cryptography called Proof of SQL™ that allows developers to connect analytics directly to smart contracts, opening up a wealth of powerful new use cases and business logic on blockchain technology. Space and Time is built from the ground up as a multichain data platform for Web3 developers in financial services, gaming, DeFi, or any project requiring next-gen analytics.

For media inquiries, please contact: Spencer Reeves, marketing@spaceandtime.io

Contact

Sylvia Huangmedia@bitget.com

Space and Time’s Data Warehouse Launches to Power Applications in a Verify-Everything World

Austin, United States, April 26th, 2023, Chainwire

Space and Time, a leader in decentralized data, today announces the beta release of its data warehouse and developer suite. Space and Time allows developers to leverage provable computation against on-chain and off-chain data to power dapps, smart contracts and verifiable AI models. As AI becomes increasingly integrated in modern business applications and processes, the Space and Time data warehouse aims to ensure that AI models are trained on accurate, verifiable, tamperproof data. To participate in the Space and Time beta, sign up through this link: https://www.spaceandtime.io/access-beta

Space and Time is a decentralized hybrid (HTAP) data warehouse that powers low-latency transactional queries and scalable analytics in a single cluster. Space and Time has developed a novel zero-knowledge proof called Proof of SQL, which cryptographically proves that query computation was done accurately and that both the query and the data are verifiably tamperproof.

Space and Time comes pre-loaded with blockchain data indexed from major chains, decoded and provided for free. The data warehouse also includes pre-built APIs for SQL operations, blockchain data, Kafka streaming and security, as well as a Tamperproof Python service for easily extracting, transforming and loading data or running complex computations.

“We are thrilled to open the Space and Time data warehouse and suite of data services to developers everywhere,” said Nate Holiday, CEO and Co-founder of Space and Time. “Space and Time is enabling a new era of data verifiability. As smart contracts and AI are increasingly integrated into business processes, Space and Time aims to ensure that they’re connected to and trained on verifiable data and computation.”

Space and Time’s dapp, a next-generation data frontend, provides a user-friendly interface for interacting with on-chain and off-chain data. OpenAI enabled, the dapp allows developers to easily generate SQL queries, Python scripts, streams, oracle jobs, smart contracts, dashboards, and more from simple natural-language inputs.

OpenAI, a Microsoft-backed AI research and deployment company, is already making waves beyond the tech industry. Earlier this year, management consulting firm Bain & Company announced a services alliance with OpenAI to offer AI capabilities to its global clients, including Coca-Cola.

“AI is shaping the future of business operations in an unprecedented way,” said John Kanan, Senior Partner at Bain & Company. “As we move further into the age of AI, enterprises need to develop a focused strategy for leveraging its benefits. The assurance that AI is being trained on verifiable data and computation should instill confidence in enterprises seeking to incorporate it into critical business processes.”

Space and Time is showcasing its newly launched data warehouse at this year’s Consensus conference in a live demo with Shrapnel, the highly anticipated blockchain-enabled AAA first-person shooter game. Attendees of the conference will be able to play the Shrapnel prototype as Space and Time generates live analytic insights around gameplay.

“Web3 analytics are going to be critical to the success of blockchain games and Space and Time has the best service available.” said Mark Long, CEO of Shrapnel. “Just like any Web2 free-to-play game, realtime analytics are how you improve the player experience. You need lightning-fast execution of data from on-chain transactions to in-game activity to leaderboards and more. And players want to know that all the data is accurate and verifiable. Space and Time is just the perfect complement to Shrapnel’s own blockchain and live-ops tech.”

Space and Time’s ability to join tamperproof on-chain and off-chain data and connect the results back to smart contracts enables new, robust possibilities for blockchain gaming. Space and Time can relay information to and from a game’s servers and its smart contract in real time, to improve the game’s recommendation engines and match-making, help players understand what NFTs, weapons, and upgrades they should be buying, and facilitate more complex earning schemes on-chain.

Space and Time Product Day, presented by HashKey Capital, is an exclusive event showcasing the latest cutting-edge technology in data warehousing and Web3. Product Day, which takes place on Wednesday, April 26 during the Consensus conference, will be followed by an open Space and Time Ecosystem Night presented by Chainlink.

About Space and Time

Space and Time is the first Web3-native decentralized data warehouse that joins tamperproof on-chain and off-chain data to deliver enterprise use cases to smart contracts. Space and Time has developed a novel cryptography called Proof of SQL℠ that allows developers to connect analytics directly to smart contracts, opening up a wealth of powerful new use cases and business logic on blockchain technology. Space and Time is built from the ground up as a multichain data platform for developers in financial services, gaming, DeFi, or any project requiring verifiable data across enterprise, blockchain and AI.

About Shrapnel

Shrapnel is the world’s first blockchain-enabled AAA first-person shooter game. Designed to reward and empower players and creators, the game is being developed by a BAFTA and Emmy award-winning team of game industry veterans with unmatched experience in transmedia, virtual production, gaming-as-a-service, and blockchain production. Spun-out from HBO Interactive, the acclaimed team have enjoyed past successes with some of the world’s leading game companies including Xbox, Electronic Arts, HBO, LucasFilm, Irrational, and Zombie Ent, working on titles such as Halo, Call of Duty, Star Wars, and many more.

For more information, visit: http://www.shrapnel.com

Contact

Spencer Reevesmarketing@spaceandtime.io