The decentralized web3 data warehouse, Space and Time, announces raising $10 million in seed funding. The Fundraise was led by Framework Ventures.
Other seed funding round participants are Stratos, Samsung Next, Alliance, IOSG Ventures, and Digital Currency Group (DCG).
As per Space and Time co-founder & CEO Nate Holiday, the funds will facilitate the platform’s development and engineer hirings. Nate Holiday states the firm is “quickly ramping up” its engineering staff by 40 employees.
Space and Time is also bracing for a product launch by the year-end.
The future team would work upon the “Proof of SQL” (launching early 2023) cryptographic protocol plus on the core database.
The Proof of SQL cryptographic protocol would facilitate single environment querying of the on- and off-chain data. It would make available a decentralized, affordable, and safer analysis as against centralized data platforms.
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The Space and Time roadmap involves enhancing database capabilities to an advanced level.
“From a decentralization perspective, we plan to add more database clusters and more validators to our network,” says Nate Holiday.
The ‘limited alpha offering’ is scheduled for December, whereas a broad release of the protocol will take place in Q1 2023. A full public launch of the protocol will happen in September 2023.