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A fresh step forward has been taken by the decentralized Web3 data service, Space and Time. They have embarked on a new initiative, deploying the power of zero-knowledge-proof technology to verify information queries cryptographically within their ecosystem.
With their unique system called Proof of SQL, Space and Time is setting new industry standards. This technology enables a special kind of cryptographic proof known as a SNARK, allowing users to believe in the accuracy of data queries and be assured that the information hasn't been altered.
This initiative is aimed at delivering tamper-resistant on-chain and off-chain data to several advanced sectors, including blockchain, artificial intelligence, and extensive language models. The co-founder of Space and Time, Jay White, envisions this innovation to be pivotal across various applications. He highlights that the synchronization between decentralized and traditional systems will improve due to this advancement.
The Proof of SQL technology makes it possible for decentralized applications (DApps) to question Space and Time's data warehouse and confirm results to smart contracts. This innovative approach offers a trustworthy and privacy-preserving verification of data.
Industries where data is synonymous with monetary value, like financial services, stand to gain immensely from this service. The firm also sees possibilities for large language models, verifying the authenticity of the training data to integrate tools like OpenAI's ChatGPT into business operations.
Moreover, the service provided by Space and Time features blockchain data indexing and pre-built Web3 APIs, offering DApps real-time access to several blockchains. Integration with platforms like Chainlink oracles is also part of their system.
A noteworthy application of Space and Time's Proof of SQL is its implementation by Lendvest, a blockchain protocol involved in credit-scoring. They utilize this service to determine an on-chain credit score founded on a user's financial data. Joshua Gottlieb, the co-founder of Lendvest, pointed out that this technology is instrumental in confirming that credit scores are accurately computed and associated with the correct wallet address.
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