kyve
Service Information
Moniker: OWALLET
Validator address: kyvevaloper13rss4u93ygr9wjtq55akvacfhmqdutqw8anfn9
Seed: [email protected]:36110
Software version: v1.5.0
Staking Information
Staking Apr: 20.95%
Validator commission: 5%
Unbonding Time: 21 days
Project Information
Describle
KYVE Network is a decentralized data protocol designed to provide reliable, decentralized, and scalable data storage, retrieval, and validation services for Web3 applications. By leveraging a combination of blockchain technology, decentralized storage, and data validation, KYVE aims to ensure that the data used by decentralized applications (dApps), blockchains, and other services is reliable, tamper-proof, and available when needed.
Key Features of KYVE Network:
Decentralized Data Archiving:
KYVE’s primary function is to enable decentralized data archiving, allowing users to store and retrieve data in a trustless, verifiable manner.
This is particularly useful for blockchain projects that need to store historical data, snapshots, or other types of data that require long-term storage and easy accessibility.
Data Validation:
KYVE introduces a decentralized data validation mechanism. Data that is uploaded to KYVE is validated by decentralized nodes (referred to as "validators") to ensure its accuracy and integrity.
This process ensures that data being stored and used by dApps or other blockchain services is not corrupted or manipulated.
Integration with Web3 and Blockchains:
KYVE is designed to seamlessly integrate with various blockchain networks and decentralized applications, offering reliable data archiving and validation solutions.
It can support a wide range of use cases, including blockchain snapshots, off-chain data, NFTs metadata, and any application that requires long-term, trusted storage of large datasets.
Incentive Mechanism for Validators and Storage Providers:
KYVE operates on a Proof-of-Stake (PoS) system, where validators are incentivized to validate and archive data correctly. Validators stake KYVE’s native token, KYVE, to participate in the network.
If validators successfully validate and store data, they receive rewards in KYVE tokens. Conversely, if they act maliciously or fail in their duties, their staked tokens can be slashed.
Integration with Arweave:
KYVE is deeply integrated with Arweave, a decentralized storage solution known for its permanent data storage capabilities. Arweave provides the underlying storage infrastructure for KYVE’s archived data, ensuring long-term, cost-effective storage.
This integration ensures that KYVE can offer reliable, decentralized storage for a variety of data types and applications, all without relying on traditional, centralized storage providers.
Cross-Chain Data Availability:
KYVE enables data to be archived and validated across different blockchain networks. It supports cross-chain data storage and retrieval, making it a valuable resource for multi-chain projects and services.
Projects built on Ethereum, Cosmos, and other blockchain ecosystems can use KYVE to securely archive their data and ensure it remains accessible across chains.
Scalability and Efficiency:
KYVE’s protocol is designed to scale efficiently, ensuring that large volumes of data can be stored and validated without significantly impacting the performance of the network.
The network utilizes advanced compression techniques and decentralized storage to ensure that data is stored in a cost-efficient manner, making it suitable for both small and large-scale projects.
Use Cases:
Blockchain Snapshots: KYVE allows blockchains to store regular snapshots of their ledger data. These snapshots can be used for fast syncs, rollbacks, or auditing purposes.
Historical Data Storage: dApps and blockchain services can store large amounts of historical data, such as past transactions, voting records, or governance proposals, ensuring that this data is accessible for future reference.
Off-Chain Data: KYVE supports off-chain data archiving, allowing dApps to store metadata, logs, or other important data outside the blockchain but still in a decentralized, verifiable manner.
Governance:
KYVE’s native token, KYVE, also plays a role in governance. Token holders can propose and vote on changes to the protocol, including upgrades, adjustments to the incentive structure, and the addition of new features.
This decentralized governance model ensures that the community has a voice in the network’s evolution, keeping it adaptable and decentralized.
Developer-Friendly Tools:
KYVE provides a suite of developer tools and APIs to make it easy for blockchain projects and dApp developers to integrate decentralized data archiving into their applications.
By offering easy-to-use interfaces, KYVE simplifies the process of storing and validating data in a decentralized manner, encouraging broader adoption.
KYVE Token (KYVE):
The KYVE token is the native cryptocurrency of the KYVE network. It is used for staking by validators, for governance participation, and for paying fees within the network.
Validators and delegators are rewarded in KYVE tokens for their work in archiving and validating data, while malicious behavior can result in slashing, where staked tokens are forfeited.
Data Pools:
KYVE operates using Data Pools, which are specific instances where data from particular projects or use cases are archived and validated.
Each Data Pool is associated with a specific validator set that ensures the data is verified and correctly stored, making the system scalable and customizable for different projects.
Summary:
KYVE Network is a decentralized protocol designed to provide reliable and scalable data archiving, storage, and validation services for Web3 applications and blockchains. By leveraging technologies like Arweave for permanent decentralized storage and incorporating cross-chain interoperability through IBC, KYVE ensures that data remains accessible, secure, and tamper-proof. KYVE is ideal for blockchain projects that need to store large datasets, historical records, or off-chain data in a decentralized and verifiable way, offering an incentive-based model for validators and storage providers.
Last updated