There are many problems when it comes to validating historical data on any blockchain. First off, there are no incentives to store historical data as validators are only rewarded for block production, not maintaining historical data. Second, no individual entity wants to cover the cost of maintaining this data which leads to greater in house costs with no financial return. This then creates even more issues, such as centralization of historical data, gatekeeping, and trust issues. As the blockchain grows and scales in data over time this further increases costs and also creates a major vulnerability risk for the historical data.
In case you haven't been keeping up with SOURCE, one of its major objectives is to provide enterprises and businesses with data validation solutions on the SOURCE blockchain. This is essential for companies working with supply chain data, Internet of Things data, and more. KYVE Network fortifies SOURCE's vital historical data infrastructure and empowers developers with unparalleled security and data reliability. This makes SOURCE an attractive blockchain for businesses and developers alike because without this key infrastructure, historical blockchain data poses a risk of high costs, scalability, storage, and trust challenges.
KYVE Network's Integration with SOURCE decentralizes and validates vital historical data and builds a permissionless public good data store that anyone can fund and access without creating a centralization risk.
This Public Good Funding initiative presents an excellent opportunity for both SOURCE and KYVE, leveraging a public good validator to fund integration, allowing SOURCE to avoid costly archival nodes. As a result, SOURCE's historical data becomes a trustless public good for the SOURCE ecosystem, accessible for free along with KYVE's tools. These tools include KSYNC for node operators, Data Pipeline for developers, and soon, a trustless API. See tool descriptions below.
If you're interested in contributing to making SOURCE data trustless, you can join the KYVE testnet data pool today. Stay tuned for the launch of the SOURCE data pool integration on mainnet!
SOURCE Protocol validators will be able to ask for a delegation from the KYVE Foundation to join the SOURCE data pool. Once on mainnet, rewards of the data pool will be in $SOURCE and $KYVE.
KYVE provides developers with free tools to easily access and use SOURCE historical data. This includes:
KSYNC - a tool designed for node operators, sync your node to any (historical) height within 90 seconds.
Data Pipeline - allows developers to load SOURCE data into any major data warehouse or database without coding.
Trustless API - allows developers to connect applications and dApps to SOURCE data. All data is additionally verified via a Merkle Proof.
If you are still following along, you may be wondering... how does KYVE incentivize all this data management?
KYVE rewards validators for uploading and validating SOURCE's historical data and validators need funding to operate profitably. Funding incentives are provided in SOURCE and KYVE tokens. KYVE uses its own inflation to support the funding and stakers on KYVE secure the validity of the data. KYVE has deployed a validator node on SOURCE "The KYVE Public Good Funding" that creates sustainable funding and incentives for this service. This funding mechanism also allows KYVE stakers to earn SOURCE tokens as a reward for helping secure the historical data, bringing more project awareness to SOURCE and increasing the value of both networks.
We hope you see the value in the SOURCE partnership with the KYVE Network and we look forward to many more future opportunities and collaborations together.
#SOURCEforce Weekly Friday Update: As always $SOURCE continues to make great progress each and every week. We saw two exciting technical developments with Nodes.Guru block explorer deploying live and the KYVE Public Good Funding integration kicking off as well. We also saw two great exchange listings start trading SOURCE with AscendEx and CITEX both going live as well. We have a couple more smaller listings launching before we wrap up the listing campaign. That's not to say we are done by any means targeting more upper tier exchange listings, as those will always be in our crosshairs.
We have also tremendous growth of users in the SOURCE community, welcome all newcomers and stay tuned as many more great and exciting things continue to happen on SOURCE.
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NEWCOMERS:
Welcome to the #SOURCEforce!
If you are new you may have a $SOURCE #airdrop from staking $ATOM. Simply connect Keplr to the SOURCE blockchain. Tokens were automatically distributed at genesis. Last snapshot - February 2023. SOURCE mainnet launch was October 13, 2023. Add SOURCE to Keplr using the chain registry HERE.
There are many more great things coming for $SOURCE, be sure to join our Discord or Telegram and interact with our great community.
Stay informed and don't miss out on all the excitement!
keywords: trustless data, validator, staking, crypto exchange, trading, RWAs, play-to-earn, web3 gaming, $SOURCE, IBC, blockchain business solutions, SCRT, Secret Network, Kyve Network, Planq Network, Akash, 2TG Entertainment
Disclaimer: This blog article is for informational and entertainment purposes only and should not be considered financial advice. Please do your own research before making any decisions with your tokens.
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