Jay White, Co-Founder and Head of Research at Space and Time, asserts that the implementation of Proof-of-SQL represents a notable advancement in promoting compatibility between on-chain and off-chain ecosystems. This promotes cooperation between decentralized and traditional systems, enabling the emergence of fresh forms of innovation, effectiveness, and user contentment across a wide range of industries including finance, retail, healthcare, gaming, and blockchain applications.
The versatility of Proof-of-SQL is clearly demonstrated by its ability to seamlessly handle both on-chain and off-chain data. In the financial industry, data plays a crucial role in determining monetary value, making the product exceptionally valuable.
The utilization of Proof-of-SQL extends to the domain of artificial intelligence (AI), where it assumes a vital function in validating that extensive language models (LLMs) are trained on precise and unaltered data. This feature guarantees the responsible and ethical utilization of AI as it continues to infiltrate diverse industries.
Within the blockchain industry, developers utilize Proof-of-SQL as a means to construct smart contracts and decentralized applications (dApps) that effectively authenticate data while upholding the fundamental principles of trustless security inherent in blockchain technology. Lendvest, a protocol powered by Chainlink, stands out as an early adopter of Proof-of-SQL. This innovative approach incorporates on-chain credit scores into its operations.
Established in 2022, Space and Time has successfully obtained significant funding, raising a total of $30 million through two distinct funding rounds within the same year. The advancement of blockchain and AI technologies is expected to bring about the adoption of Proof-of-SQL, which will play a crucial role in guaranteeing the accuracy and integrity of data. This implementation will greatly contribute to the progress of these transformative sectors.