Harnessing the Power of ZK-Proofs
Decentralized Web3 data service Space and Time has tapped into zero-knowledge proof (ZK-proof) technology to cryptographically verify information queries within its ecosystem.
The company’s proprietary Proof of SQL allows the platform to generate a SNARK cryptographic proof of a query within its decentralized data network, allowing users to trust that a data query is accurate and has not been manipulated.
Building Trust in the Blockchain Ecosystem
Space and Time co-founder Jay White told that the innovation could prove useful across a range of blockchain-based solutions including financial services, retail, healthcare and gaming.
“We believe that data will enhance the interoperability between the on-chain and off-chain ecosystems, fostering greater collaboration between decentralized and traditional systems.”
Fueling Decentralized Applications
Proof of SQL will enable decentralized applications (DApps) to run a query to Space and Time’s data warehouse and create a roll-up of the result to a smart contract. The Proof of SQL ensures trustless, but verified, proofs of data that are efficient and privacy-preserving.
Potential Value to Financial Services and AI Industries
The firm notes that the service could provide significant value to industries where monetary value is directly linked to data, with financial services a prime example. The company also sees potential in the technology to verify that large language models were trained on accurate, tamper-proof data.
Promising Applications in Blockchain Credit Scoring
Space and Time’s Proof of SQL is currently being used by credit-scoring blockchain protocol Lendvest. The service calculates an on-chain credit score based on a user’s on-chain and off-chain financial data.
Lendvest founder Joshua Gottlieb stated that Proof of SQL is being used to prove that credit scores are verified, calculated correctly, and associated with a correct wallet address. The system is intended to allow Decentralized Finance (DeFi) lending platforms to algorithmically establish the risk profile of a user, which is aimed at improving returns for both users and DeFi protocols.
