Hong Kong, Hong Kong, October 30, 2024, Chainwire

Space and Time Laboratoriesthe Microsoft-backed company that recently raised a $20 million, Series Atoday announced that SXT Chain, a blockchain designed to provide proven zero-knowledge (ZK) data to smart contracts, is available on testnet. SXT, alongside ZKsync, Chainlink and Microsoft, will power the next generation of DeFi by providing developers with the data, infrastructure and tools needed to create advanced, data-driven smart contracts.

SXT Chain is a blockchain that indexes data from other major blockchains, including Ethereum, ZKsync, and other EVM and Move chains, and stores it on a decentralized network of database nodes. Developers can access, query, prove ZK and reconnect this data to their smart contract using Proof of SQLSXT’s sub-second ZK coprocessor for SQL database queries.

Blockchain technology allows individuals to truly own their assets, enabling a world where financial freedom is not limited by centralized institutions. But despite the progress made over the past decade since the introduction of Ethereum and smart contracts, blockchain technology remains significantly limited by its lack of ability to access and process data at scale.

For example, while traditional lending platforms issue loan rates based on the borrower’s credit score, blockchain lending protocols issue the same loan rate to all borrowers because smart contracts cannot not confidently access basic on-chain data such as a wallet’s lending history. With SXT, a lending protocol can aggregate a wallet’s on-chain lending history into a “credit score” using a familiar SQL interface, ZK-proves that the score was accurately calculated on the correct and untampered data, and send the score directly to the smart contract. to facilitate more personalized loans. Multiple projects building the next generation of data-driven DeFi solutions like Loan investmentan on-chain credit scoring protocol from the Chainlink BUILD program, already builds on SXT.

“From day one, at Space and Time, our goal has been to make smart contracts smarter by connecting them to a verifiable database. We are excited to launch SXT Chain in testnet to enable developers to build more sophisticated applications on-chain. ZKsync and Chainlink have been pioneers in expanding the capabilities of blockchain technology, and we look forward to continuing to build the next generation of DeFi with ZK’s proven, decentralized database technology. said Nate Holiday, co-founder and CEO of Space and Time.

To support SXT Chain, Space and Time is also leveraging ZKsync technology to launch a ZK chain within the Elastic Chain ecosystem. The ZK rollup will act as the smart contract execution layer of SXT Chain, allowing developers to easily deploy Solidity smart contracts on SXT. The rollup will also include native DeFi applications that manage customer payments, staking, and node operator coordination for the network, as well as third-party DeFi applications for liquid staking, derivatives, and data-intensive applications.

“It is exciting to see that Space and Time is helping to grow the Elastic Chain ecosystem and its capabilities through the SXT chain as well as custom rollup powered by ZKsync, allowing developers to build more advanced on-chain applications secured by ZKsync. We believe ZK is key to the development of Web3, and the launch of SXT Chain advances our shared vision of providing developers with sophisticated, data-driven cross-chain smart contracts,” said Alex Gluchowski, co-inventor of ZKsync.

SXT will leverage the industry-standard Chainlink network to provide developers with a more familiar and less expensive way to verify the results of ZK queries executed on SXT compared to gas-intensive verification on Ethereum. SXT is also natively integrated into Chain link functions so developers can deliver ZK-proven query results directly into their smart contract from SXT. SXT extends the capabilities of developers leveraging Chainlink services by providing a ZK-proven database that acts as a trusted data source for smart contracts, delivered by secure Chainlink oracles.

“We are excited for Space and Time to integrate Chainlink’s industry standard services onto its SXT chain, in addition to receiving support through the Chainlink BUILD program. SXT’s integration with the Chainlink network significantly enhances the toolkit available to developers, providing a new and secure solution for creating scalable, data-driven smart contracts that can interact with on-chain and off-chain data in a decentralized,” said Sergey Nazarov, co-founder of Chainlink.

The Space and Time Labs team is comprised of world-class AI and cryptography researchers who have already made waves in the fields of AI, blockchain, and ZK. Microsoft shared on a blog that portfolio company M12 has worked closely with the Microsoft AI Co-Innovation Lab to accelerate its generative AI tools and make it easier for developers to build on-chain applications.

“At Microsoft, we are driving growth in emerging markets, including blockchain and distributed data. Together, Microsoft Azure and Space and Time will provide developers with the tools they need to create the next generation of blockchain use cases,” said Kathleen Mitford, vice president of worldwide industrial marketing at Microsoft.

The SXT Chain testnet is now available for developers looking to power their applications and smart contracts with a ZK-proven database. Community members can participate in the testnet by completing SXT quests on Galxe. For more information on participating, visit this page.

About the space and time laboratories

Space and Time Labs is a leader in decentralized data and zero-knowledge (ZK) technology and the original contributor to SXT Chain. SXT Chain is a blockchain for ZK-proven data, which provides a verifiable multi-chain data platform for smart contracts, businesses, and AI models. SXT Chain is integrated with Space and Time’s Proof of SQL, a sub-second ZK coprocessor that enables smart contracts to process on-chain and off-chain data at scale, opening up a host of powerful new use cases for blockchain technology. Backed by Microsoft’s M12 Ventures, Space and Time is trusted by leading financial institutions, enterprises and Web3 applications.

For more information, visit: Website | X | Discord | Telegram | LinkedIn | YouTube

For media inquiries, please contact: Catherine Daly, [email protected]

About Chainlink

Chainlink is the universal platform to pioneer the future of global on-chain markets. Chainlink has generated over $16 trillion in transaction value by providing financial institutions, startups, and developers around the world with access to real-world data, off-chain computation, and secure interoperability between chains on any blockchain. Chainlink powers verifiable applications and high-integrity marketplaces for banking, DeFi, global commerce, gaming, and other major industries.

Learn more about Chainlink by visiting string.link or by reading the developer documentation at docs.chain.link.

About ZKsync

ZKsync leverages cutting-edge Zero Knowledge (ZK) technology to create secure, scalable and interoperable blockchain solutions. Through its ZK Stack framework, ZKsync allows developers, enterprises and financial institutions to deploy customizable ZK chains, forming the Elastic Chain ecosystem. This innovative network offers native, trustless interoperability, enhanced privacy, and unparalleled scalability while maintaining the security of Ethereum. ZKsync’s mission is to bring crypto to the mainstream, giving millions of developers and billions of users digital ownership and personal freedom. To learn more, users can visit zksync.io

Contact

Marketing Manager
Catherine Daly
Space and time
[email protected]

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