In a riveting turn for the tech world, decentralized Web3 data service, Space and Time, has harnessed the power of Zero-knowledge proof (ZK-proof) technology to launch a tamper-proof tool for SQL queries. Aided by the strength of ZK-proof cryptography, the company’s proprietary Proof of SQL ensures the validity of data queries in its decentralized data network, fostering trust that the data has not been compromised or altered.
Promising to deliver tamper-proof on-chain and off-chain data, Space and Time is targeting advanced computing, blockchain services, artificial-intelligence, and diverse language models. As suggested by the co-founder of the company, Jay White, the development foresees usage across a variety of blockchain-based solutions including retail, finance, and gaming. Citing the potential for interoperability between on and off-chain ecosystems, White underscores the importance of improving traditional and decentralized systems’ collaboration.
The Proof of SQL is designed to enable decentralized applications (DApps) to query Space and Time’s data warehouse, while ensuring that data proofs are trustless yet verified, efficient, and privacy-preserving. Going further than just the blockchain realm, Space and Time see the potential in verifying that large language models have been trained on accurate, tamper-proof data, an increasingly crucial factor as tools such as OpenAI’s ChatGPT make their way into business processes.
Beyond just securing data, this service stands to provide tremendous value to industries where data directly impacts monetary value. Here, financial services emerge as powerful examples. Ensuring the accuracy of data in this sector could dramatically improve the efficiency and reliability of many processes.
The service is currently being demonstrated by credit-scoring blockchain protocol, Lendvest. It calculates on-chain credit scores based on a user’s financial data, both on-chain and off-chain. By so doing, decentralized finance (DeFi) lending platforms can formulate a user’s risk profile algorithmically, which promises to enhance returns for users and DeFi protocols.
While this development sure seems promising, some morsel of skepticism lingers. Technology has historically been susceptible to exploitation, tempering enthusiasm with caution could be crucial. Whether it’s Space and Time’s Proof of SQL or numerous others, the bigger question might just be: Are we prepared for a future where cryptography is embedded in everyday digital interactions? Is it a promising leap toward trust and transparency or a complex web that might trigger unforeseen challenges? As Space and Time embarks on this journey, the crypto landscape watches on, anticipating the results of this groundbreaking endeavor.
Source: Cointelegraph
