Introduction to KYVE
KYVE is the web3.0 data solution based on layer-1 Blockchain that provides several facilities to data providers, including validation, standardization, and data storage. By providing support in a permanent information storage solution, KYVE’s SDK-based chain develops a constant backup and guarantees the reliability and accessibility of resources over time. KYVE is a project that allows you to save any stream of data with built-in validation. We can save this data permanently and immutably using the Arweave Blockchain. KYVE is an infrastructure that allows discrete information elements to enter and be standardized, merged, permanently stored, and evaluated (KYVETeam, 2021).
Scalability issues
Current infrastructure within Blockchain has certain limitations for varying projects, especially in the case of data development. Large data sequences can be difficult to retrieve, especially when pieces are computationally dependent on one another or when a stream takes a lot of bandwidth and is difficult to manage. When networks first join blockchain networks, synchronization times are a significant source of worry. One of the examples includes the synchronization of a full archival node on Ethereum, which takes two weeks to compute a whole state of a chain network.
KYVE’s solution
Unified solutions are provided based on the KYVE’s decentralized factual infrastructure developed for blockchain data requirements. KYVE develops a storage pool, which can be employed by data developers and data providers to verify and store their datasets. These pools are based on protocol nodes that provide security for information. Protocol nodes are responsible for data collection, validation, and uploading to Arweave after verification.
Features of KYVE
Cosmos SDK-based chain
KYVE has shifted from EVM-based contracts towards SDK-based smart chain contracts making its own layer-1 in Blockchain. EVM protocol provides several issues as it is not reliable for KYVE applications with higher volumes. Moreover, the decentralization process of EVM was also not matched to blockchain solutions, which raised concern about shifting toward the Cosmos network.
Integration with Stacks
Stack is a layer-1 blockchain which is connected to Bitcoin and provides smart contracts. This correlation is the first step of KYVE in the ecosystem of Bitcoin. Stacks is a small execution layer over the Bitcoin blockchain, which is employed to run smart contracts. The KYVE Network will archive Stacks data on the Bitcoin blockchain as a result of its integration with Stacks, giving layer one a new, alternative means to access the data they need without having to rely on a single organization in the community (KYVE, 2020).
Protocol Update
Node framework and data security have been improved through protocol update # 3.0 within the KYVE network. This update increased the scalability of the system through the Moonbeam network as well as provided new aspects for the blockchain protocol. KYVE is developing its infrastructure to become a network leader instead of a data uploader (KYVE, 2022).
Future of KYVE
KYVE is supported by top ventures, including Coinbase Ventures, Hypersphere ventures, and Blockchains such as Solana, Avalanche, and Interchain. KYVE has been integrated with more than 12 blockchains. It is aimed to develop a decentralized infrastructure for the Web 3.0 ecosystem. It is on the rise to develop new partnerships for the integration of layer-1 and layer-2 Blockchain to provide higher scalability.
To learn more about KYVE network, please visit the official resources:
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