As a seasoned crypto investor with a keen eye for promising projects and partnerships, I find the recent testnet launch of SXT Chain by Space and Time Labs incredibly intriguing. With industry giants like ZKsync, Chainlink, and Microsoft backing this initiative, it’s clear that we’re witnessing the dawn of a new era in DeFi.
space-time labs, a pioneer in data solutions backed by Microsoft, unveiled the launch of their test network for SXT Chain – a leading blockchain platform designed to provide zero-knowledge verified data directly to smart contracts.
The announcement came during Chainlink’s SmartCon event held on October 30.
As a researcher, I am thrilled to be part of this pioneering collaboration, where we’re teaming up with titans like ZKsync, Chainlink, and Microsoft. Our mission is to reshape the landscape of Decentralized Finance (DeFi) by harnessing cutting-edge data capabilities, collectively pushing the boundaries of what’s possible in this rapidly evolving field.
As a crypto investor, I’ve come across the SXT Chain – a game-changer in the world of decentralized databases. Instead of creating my own database, SXT Chain provides one that indexes data from heavyweights like Ethereum and ZKsync. This shared database opens up a vast landscape for data-intensive applications, all thanks to its unique Proof of SQL feature.
As a researcher, I’m excited to note that the implementation of the ZK coprocessor significantly speeds up SQL database query verification, often completing it within a second. This breakthrough directly tackles the bottlenecks in blockchain data processing, marking a significant leap forward in this field.
As a crypto investor, I’m excited about the launch of the testnet for SXT Chain, which allows smart contracts to leverage trusted databases for tailoring DeFi interactions. It’s intriguing to see projects like Lendvest, backed by Chainlink BUILD, embracing SXT’s data tools, paving the way for advanced, data-driven lending protocols of the future.
Nate Holiday, Co-Founder and CEO of Space and Time, expressed his excitement about debuting SXT Chain in its testnet phase, which aims to equip developers with the tools they need to create more complex on-chain applications. He acknowledged the groundbreaking work done by ZKsync and Chainlink in expanding blockchain technology’s potential, and looks forward to collaborating with them to develop the future of DeFi using cutting-edge, decentralized ZK-verified database technology.
Partnering with ZKsync, Space and Time enhances SXT’s scalability through the application of ZK rollup technology. This accelerates and optimizes transactions within the Elastic Chain network. In turn, this simplifies the process for developers to deploy smart contracts using Solidity more easily.
It’s thrilling to witness Space and Time contributing to the expansion and versatility of the Elastic Chain ecosystem via SXT Chain and the custom ZKsync-powered rollup. This allows developers to construct more complex on-chain applications, which are secured by ZKsync. We hold the view that Zero Knowledge (ZK) technology is crucial for scaling Web3, and the introduction of SXT Chain aligns with our collective goal of providing developers with advanced, data-driven, cross-chain smart contracts. This was expressed by Alex Gluchowski, a Co-Inventor of ZKsync.
By leveraging Chainlink’s vast network, SXT Chain enables developers to access secure and cost-effective Zero-Knowledge (ZK) verifications for data inquiries, thus bypassing the expensive Ethereum verification fees.
As a researcher, I’d express it like this: “I, as a researcher, noted Sergey Nazarov’s comment about the integration of SXT with the Chainlink Network. This integration expands the developer’s toolset, offering a fresh and secure approach for constructing scalable, data-driven smart contracts. These contracts can now interact seamlessly with both onchain and offchain data in a decentralized manner.
Microsoft emphasized its dedication towards the progression of blockchain technology. To put it simply, Microsoft is supporting expansion in emerging sectors such as blockchain and distributed data. In collaboration with Space and Time, Microsoft Azure aims to equip developers with essential tools for creating innovative applications within the upcoming era of blockchain. This statement was made by Kathleen Mitford, Corporate Vice President of Global Industry Marketing at Microsoft.
Read More
- Crypto VC funding roundup: Riot snags over $594m, BVNK raises $50m
- PYTH PREDICTION. PYTH cryptocurrency
- The Final ‘Gladiator II’ Trailer Has Arrived
- ‘Fast and Furious’ Star Paul Walker Remembered 11 Years After His Death
- 15 Charged for converting Drug Cartels’ Cash into Cryptocurrency in U.S.
- OREO Unveils Six New Products for 2025
- XRP Price Eyes $2 Support Level Amidst Market Correction
- TROTOAR Gallery Bridges Local and Global Art with ‘That’s What’s Up!’
- Russell T Davies Says He “Kind Of Hopes” The Streaming Bubble Will “Pop”
- IMX PREDICTION. IMX cryptocurrency
2024-10-30 11:00