Kyve protocol

You will have notice that SEI has been gradually announcing the newer protocols that will be launching on Sei such as Kyve, WhiteWhale, Synthr, UXD. Introducing a series of articles telling about these protocols. Have a nice reading!

KYVE, the Web3 data lake solution, is a protocol that enables data providers to standardize, validate, and permanently store blockchain data streams.

KYVE’s network is powered by decentralized uploaders and validators funded by $KYVE tokens and aims to operate as a DAO (Decentralized Autonomous Organization) in the near future.

Any generated data stream — for example, a sequence of blocks from a blockchain — is standardized, proven valid, and stored permanently. By leveraging Arweave, KYVE secures the scalability, immutability, and availability of these resources over time.

The $KYVE token will be used universally. As rewards for validators, as payment for data storage services, as a token governence for network management. MoonBeam extends the protocol to EVM Ethereum and Polkadot. Avalanch, Solana, NEAR, Aurora, Ignite and of course we love Cosmos. All these ecosystems announced a partnership with the project and many supported the development of their community pools. Partnering and developing with the Stacks project, has expanded the impact and application of KYVE on the bitcoin blockchain itself. Recall that the Stacks project is a level 1 blockchain for the Bit network to bring to it smart contracts.

Team / Ecosystem / Developers will not receive tokens at once. The cliff is 1 year and the vesting is for 2 years with daily expansion. The most important feature is that the token will be used. If you need data storage, you need to run a node archiver that will collect data. To do this, you need to deposit $KYVE. Network maintenance is paid in $KYVE, Stakes/Delegation.

The newly created project, which is currently in the test network stage, uses the Arweave Indefinite Data Storage Blockchain to provide a huge number of Web 3.0 options, including interconnection across bridges, data storage and oracles.

Thank you for your attention. The following articles will not take long. See you soon!

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