KYVE

WHO KYVE IS AND WHAT IT DOES

KYVE Network enable scustomized access to on- and off-chain data. Unlike other solutions, it provides this access using fast and easy tooling for decentralized data validation, immutability, and retrieval. As a result, developers, validators, and others can easily access the trustless data they need in Web3.

TL;DR

• KYVE Mainnet/TGE launched on March 14th, 2023, and has two testnet networks: Kaon and Korellia. On Korellia, KYVE has over 20 data pool integrations with fellow partners, along with 43k+ active users (during incentivized testnet).
• The KYVE Network Stack includes KYVE, the data validation and transfer protocol, the Data Lake to keep track of the trustless data, Data Pipeline for no-code data sourcing and transformation, and KYSNC for fast node-network syncing.
• KYVE is backed by top VCs, including Hypersphere Ventures, Coinbase Ventures, Distributed Global, Mechanism Capital, CMS Holdings, IOSG Ventures, and blockchains such as Cosmos, Arweave, Avalanche, Solana, Interchain, and NEAR. In total, KYVE has raised ~$13M during its three funding rounds.

Today’s Web3 Data Roadblocks

There are two major issues in today’s data space that create roadblocks and hazards for developers, node runners, data engineers, and Web3 scalability as a whole. Those issues being: 1. easy and reliable data access, and 2. data validity. Let’s explain…

The growth of Web3 has resulted in the creation of vast amounts of data, which makes accessing specific data increasingly difficult, particularly when the pieces are interdependent. Additionally, maintaining a complete copy of a blockchain, for example, what is required for archival nodes, is not incentivized and is not attractive due to growing data storage costs. This has resulted in nodes relying more on more centralized solutions, such as the Solana Foundation, which introduces the risk of single point of failure or data validity and reliability. Other solutions can also be quite costly.

On top of this, the time it takes to search through all of the data can also be a significant roadblock in development or node participation, sometimes requiring weeks to get a piece of historical data needed. Then, after all of this effort in accessing and retrieving a certain piece of data needed, you might not even be 100% sure that it’s fully correct or up to date. This brings us to issue number two: data validity.

For example, when projects source off-chain data, oracles are their go-to tool as they provide an easy access point to deterministic Web2 data. However, no matter if an oracle claims that they verify the data or not, there is an underlying issue that remains: Lack of trustlessness. Suppose a project automatically implements incorrect data provided by an oracle without double-checking. In that case, it can become highly vulnerable to attacks, losses, improper pricing, and/or data process discrepancies as it opens itself up to an attack vector from one source.

So, how can we weed through all the data and check if it’s accurate in a trustless way? Bring in true decentralization. Decentralization is the key pillar of Web3, distributing power, trust, and actions among stakeholders and network participants. However, to determine if a piece of data is valid, developers need to create custom validation methods per data set, and managing these different runtimes and ensuring all data sets are appropriately sourced and validated can be challenging.

To ease the overall experience in accessing and working with data, a decentralized data-sourcing solution with built-in validation and access tooling is required, much like KYVE!

KYVE’s Solution

At the core of KYVE Network lies its innovative decentralized data validation and transfer protocol, a powerhouse driving the network’s efficiency and reliability. This protocol is a cornerstone in ensuring decentralized data validation, immutability, and seamless retrieval.

KYVE is its own Layer 1 blockchain and sits in between any data source and data availability or storage layers, such as Arweave or Celestia, guaranteeing an enhanced and customizable experience from start to finish.

The KYVE Blockchain
KYVE is its own DPoS Layer 1 blockchain with two distinct layers: the Consensus Layer, and the Protocol Layer, each with its own validator infrastructure.

• The consensus layer is the backbone of KYVE and is an entirely sovereign Delegated Proof of Stake (DPoS) blockchain built with the Cosmos SDK and CometBFT. It’s run by independent validators, which enable users to support and secure the KYVE blockchain with $KYVE, the official blockchain coin.
• Sitting on top of the consensus layer is the Protocol Layer, which enables the actual use case of KYVE’s data lake. This includes data pools, funding, and delegation. The protocol layer has its own protocol validators, which are responsible for collecting data from a data source, bundling and uploading it to the chosen decentralized storage solution, and then validating it, keeping track of which data is truly valid for its users to tap into. This enables KYVE to store any data permanently and in a decentralized manner, creating a Web3 data lake.

The KYVE Network Stack:

• KYVE: The data validation and transfer protocol;
• Data Lake: The trustless hub for tracking KYVE’s validated data, accessible via REST-API;
• Data Pipeline: For data sourcing and transformation in just a few clicks, enabling easy import of KYVE data into your preferred data warehouse, such as BigQuery, Postgres, or other databases;
• KSYNC: Data syncing tool enabling your node to rapidly sync with blocks, snapshots, and historical data of any blockchain.