Georgetown, Cayman Islands, December 16th, 2024, Chainwire
During the testnet phase, over 1.3m users contributed more than 6.5m data points to train user-owned AI models. On mainnet, DataDAOs will leverage the $VANA token to enable users to collectively own, monetize and govern their personal data for a stake in the booming AI economy.
On December 16, 2024, I’m thrilled to share that Vana, the innovative data network centered around user ownership, has officially unveiled its mainnet and native $VANA token. This monumental step forward signifies a breakthrough in overcoming the data barrier hindering AI advancement, all while upholding privacy and enabling users to reap the rewards of the value their data generates.
The Vana network, created by Open Data Labs, a tech and research company originating from MIT Media Lab in San Francisco, is an EVM-compatible blockchain. This network empowers users to retain ownership and manage their personal data, while also enabling the use of this data for training AI models through advanced privacy safeguards.
After a successful testnet phase with over 1.3 million users contributing more than 6.5 million data points to DataDAOs daily, processing approximately 1.7 million transactions, the mainnet launch occurs. This testing period confirmed that programmable data ownership is not only feasible but essential in today’s AI advancements, according to Anna Kazlauskas, CEO of Open Data Labs and creator of Vana.
Today’s mainnet launch signifies a significant transformation in the way data is personally owned and financially exploited during the Artificial Intelligence (AI) era. Although users have always had legal ownership of their data, platforms have been the primary beneficiaries economically – something many users are unaware of, as they don’t realize that their data belongs to them by law!
Vana sets the stage for a novel form of data economy; an environment where users can reap rewards from the AI models they contribute to, and where developers can gain access to the diverse cross-platform datasets essential for building exceptionally potent AI. Just as property rights fostered the growth of traditional economies, in today’s digital realm, data rights that can be programmed are paving the way for the future of AI.
The key features of the Vana mainnet will include:
- Trustless Validation through secure data ingress and trusted execution nodes
- Granular Permissioning allowing users complete control over their data usage
- Onchain Data Provenance tracking how contributed data is applied
- Data Liquidity Pools (DLPs) enabling collective data pooling, governance and monetization via DataDAOs
- Proof of Contribution mechanism ensuring fair rewards for data quality
- Staking $VANA to DataDAOs through Data Hub
Users can make money by sharing their data with DataDAOs through the network’s proof-of-contribution system. In return, they receive unique data tokens, which provide governance privileges and allow them to decide how their data is handled. These data tokens can be exchanged for the network’s native currency, $VANA. Top-performing DataDAOs also receive incentives in the form of DataDAO rewards. Additionally, users can collect extra tokens by operating nodes, verifying transactions, and staking to DataDAOs.
As a crypto investor, I find myself drawn to the promising potential of $VANA, a token with a total issuance of 120 million. This coin serves as the cornerstone of its network’s economic structure, empowering various capabilities:
- Governance over network parameters and data usage
- Staking to secure the network and validate data contributions
- Incentivization of high-quality data submissions from data contributors
- Revenue Sharing from AI model development and data usage
Among the Data Decentralized Autonomous Organizations (DAOs) being developed on the Vana platform are DNA DAO, focusing on privacy issues related to ownership of genetic data, and an expansion of the already thriving Reddit Data DAO. This latter entity has already shown the promise of community-managed data pools. For more information about DataDAOs on Vana, click here.
At a pivotal moment as artificial intelligence advancement grapples with growing data scarcity, and users demand more autonomy over their digital trail, Vana’s innovation offers a means for individuals to engage in and reap rewards from the AI marketplace, all while safeguarding their data privacy.
According to Art Abal, CEO of Vana Foundation, as AI encounters a data barrier and more platforms profit from user data without returning benefits to users, it’s fair that users should have a share in the future development of AI.
The existing method of trading personal data on the internet (Web2) is flawed. At present, a select few platforms and data brokers control our data, often using it as leverage. They determine its value, and in turn, develop the technology that results from it. But no longer! This marks the start of a new era where we can set the value of our own data and choose the technology it shapes. This is the dawn of a data revolution!
Participants are welcome to begin staking their $VANA tokens at the Data Hub location provided below. For comprehensive details, you may want to explore our website (www.vana.org), delve into our documentation, connect with us on platform X, and even initiate a new DataDAO.
Media Contact:
media@vanafoundation.org
About Vana
Vana is a pioneering decentralized platform where individuals own their data, revolutionizing it as a fresh category of digital assets. The Vana system encompasses an Ethereum Virtual Machine (EVM)-compatible blockchain, a secure personal server ecosystem, and a collection of native contracts tailored for the trustless and safe exchange of user-owned data through Data Decentralized Autonomous Organizations (DataDAOs). This network enables users to retain control over their data while they engage in the burgeoning AI economy by collaborating their data with others and receiving compensation for their input.
Media Kit | Vana Docs | X | Discord
About Vana Foundation
The Vana Foundation serves as a charitable organization, dedicated to maintaining the longevity and expansion of the Vana system.
About Open Data Labs
Open Data Labs, being an autonomous research organization, specializes in tech that speeds up the utilization of personally owned data. This innovative entity developed the Vana protocol and continues to offer essential development services for the Vana Foundation on a long-term basis.
Contact
Nick Vivion
Vana Foundation
media@vanafoundation.org
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2024-12-16 20:21