AI+blockchain, how does Chainbase create a new data value ecosystem?

Original source: Chainbase

As the core element of blockchain technology, data is becoming increasingly important. Data is not only a key resource that drives the development of the entire ecosystem, but also a source of power that continuously injects vitality into it. However, behind the booming development of Web3, we are also facing many challenges:

Too many public chains have caused data to be scattered in various independent networks, hindering the efficient circulation and value mining of data. Low-quality data cannot meet the needs of complex applications, limiting the development and implementation of innovative applications. Existing centralized platforms are difficult to integrate global data and developer communities, hindering Web3 from truly achieving the goal of decentralization and coordinated development.

In such a data dilemma, Chainbase chose to move into the data field with its keen market sense, and is reshaping Web3's data infrastructure in a chain-native way, laying a solid foundation for the integration of AI and blockchain. It is committed to building an open, transparent and crypto-native data interoperability layer that enables developers around the world to easily obtain, process and utilize data resources.

Currently, Chainbase has successfully completed a $15 million Series A financing round, attracting participation from multiple investment institutions including Tencent Investment Group, Matrix Partners, Hash Global, Folius Ventures, JSquare, DFG, Mask Network, Bodl Ventures, and Bonfire Union Ventures. The funds will be used to build the most complete on-chain data infrastructure for the Web3 ecosystem.

Chainbase aims to democratize on-chain data access. To date, it has processed more than 500 billion data calls and provided support for more than 20,000 developers and 8,000 projects.

Chainbase: Focus on Building Crypto Native Data Infrastructure

Chainbase focuses on the field of crypto native data infra. Compared with traditional data infrastructure such as The Graph and Dune, Chainbase takes blockchain as the core and starts from the chain to create the next generation data stack (next gen AI stack). It uses a chain-native approach to build a four-layer dual-consensus decentralized architecture to achieve high accessibility of the interconnection of thousands of chains, ensure the integrity of data in the decentralized network, and unify the data format standards to facilitate the wider use of on-chain data by larger-scale complex applications and AI-related applications. In addition, Chainbase has also introduced on-chain native AI, opening up new possibilities for data analysis and applications.

Chainbase's technical architecture consists of four key layers: data access layer, data integrity layer, data format standard layer, and on-chain native AI layer. Specifically:

Data access layer:Provides efficient and convenient data access interface, supports data calls from multiple blockchain networks, and ensures the real-time and accuracy of data.

Data integrity layer: Uses distributed ledger technology and encryption algorithms to ensure data integrity and immutability, thereby protecting user data security.

Data format standard layer:Unifies data format standards, eliminates data islands, and achieves cross-chain data interoperability.

On-chain native AI layer:Integrates AI technology into blockchain networks, provides smart contracts and data analysis services, and improves data processing and application efficiency.

Chainbase's new architecture, while ensuring efficient data processing and access, provides strong support for data analysis and applications by introducing on-chain native AI. It can not only better adapt to the rapid development and diversification of Web3, but also provide developers with more flexible and efficient data services. In addition, its decentralized design enables it to maintain a high degree of security and stability when handling complex data query and analysis tasks.

As Chris Feng, co-founder and COO of Chainbase, mentioned in the interview, with the booming development of Web3, "on-chain data is no longer limited to simple transaction records, but is gradually evolving into a new asset class." This data is not only used to verify transactions, but also becomes a valuable resource for providing valuable insights and driving innovation. Chris Feng emphasized that "strong data infrastructure is the key to realizing this vision."

Chainbase is well aware of the importance of data transparency and fairness, and is therefore committed to building an ecosystem that aims to break the monopoly of a few centralized entities and provide a unified, modular, and interoperable on-chain data layer to a wider audience, allowing developers to easily access and utilize high-quality data to develop more accurate and efficient applications in the Web3 environment.

Native Token C Economic Model and Incentive Mechanism

The C Token is Chainbase’s native token and a core component of its ecosystem. Its token economics aims to support a sustainable and secure network environment by precisely coordinating the incentives of all participants. This model ensures efficient coordination between the execution layer and the consensus layer, while continuously promoting the continued development and widespread use of the network. As a utility token, the C Token also cleverly coordinates the data supply and demand sides within the network, and effectively incentivizes protocol participants to organize and manage data efficiently.

The incentive mechanism of the C Token is mainly distributed through the following dimensions:

Data query fees: Data developers create scripts to process blockchain data to generate datasets that can be queried and used. Whenever these datasets are queried, a certain number of C Tokens must be paid to cover the cost of data retrieval and as a reward to network resource providers (such as operators and validators) to ensure that they continue to provide excellent services. The distribution is as follows: 80% is awarded to operators and their delegators to incentivize them to maintain and optimize computing resources and ensure efficient processing of data queries; 15% is allocated to data developers to encourage them to provide high-quality data processing logic; the remaining 5% is destroyed to maintain the economic value of the token.

Incentive Operator Pool:In a six-year plan, a total of 15% of the C token supply will be unlocked annually, with 2% released each year, to incentivize operators to provide reliable and diverse computing resources and support the network to achieve large-scale data processing capabilities. The distribution principle is: 100% is fairly distributed to operators and their delegators based on the quality and quantity of data processing services provided to blockchain projects.

Block Rewards:In order to help the network launch and maintain an annual inflation rate of -2%, a block reward is specially established. The distribution is as follows: 100% is awarded to validators and their delegators to recognize their contributions to maintaining network security, stability, and ensuring the smooth operation of the blockchain.

To ensure the long-term value and stability of C tokens, chainbase has implemented a number of mechanisms to resist inflation and maintain the practicality of tokens: including setting an annual token issuance cap, carefully controlling the distribution of new tokens, maintaining the broad practicality of tokens, adjusting query fees based on network activities, and requiring validators and delegators to stake tokens.

Why is C token worth paying attention to?

First of all, C tokens have real application scenarios as their value support.

As the native token of the chainbase data network, C tokens are designed to promote and incentivize various activities within the ecosystem, serving as a medium of exchange and incentive engine within the platform. It not only promotes the conduct of various activities within the ecosystem, but also allows users to use it to pay data query fees and obtain rewards through its practicality. At the same time, the token economics model of C tokens ensures efficient collaboration between the execution layer and the consensus layer, providing a strong impetus for the continued development and widespread application of the network.

Secondly, the incentive mechanism of C Token also shows full respect for the community.

Through the reward structure, C Token reasonably distributes data query fees, incentive operator pools, and block rewards to ensure that all participants can get due returns. For example, 80% of the data query fee is rewarded to operators and their entrustors, 15% is allocated to data developers, and the remaining 5% is destroyed to maintain the economic value of the token.

More importantly, in the incentive mechanism of C Token, users are encouraged to actively participate in network activities and receive rewards by providing computing resources, verifying transactions, and contributing data conversion code. At the same time, C Token has also implemented a number of mechanisms to resist inflation, maintain the practicality of the token, and ensure the long-term benefits of users.

So, how can users better participate?

Currently, users can earn C token rewards by participating in the Chainbase Genesis event and the Chainbase EcoBoost Phase 1 event by verifying addresses, referring friends, and completing tasks. In addition, Chainbase has joined forces with TrustaLabs to launch the Chainbase EcoBoost Phase 1 event, where participants have the opportunity to receive generous C tokens and eTrusta points rewards.

In addition, there are many ways to contribute to the Chainbase network: developers participate in Chainbase's document writing and code development to contribute to the improvement and development of the project; users support the development of the network by using Chainbase's products and services; investors can also provide financial support for the development of the Chainbase network by investing in C tokens. At the same time, actively participating in Chainbase's community governance and decision-making process is also an important way to contribute to the long-term development of the project.

Committed to data networks, empowering diverse scenarios

In fact, Chainbase is becoming a leader in the field of decentralized data networks. In order to achieve high security and credibility of data, and empower application development in various fields through data intelligence, Chainbase has three main core components to promote a virtuous cycle of data and applications: distributed ledger technology, dual-chain technology architecture, and dual-collateral model, so as to complete the processes of data verification, storage, processing, analysis, and value distribution, and provide underlying support for the entire Chainbase ecosystem.

Specifically, the decentralized architecture is the cornerstone of the Chainbase protocol, ensuring the security and credibility of data. Through distributed ledger technology, Chainbase can prevent data from being tampered with or deleted, and ensure the integrity and reliability of data. Dual-chain technology enables Chainbase to support high throughput and low latency to meet the needs of large-scale data processing. At the same time, the dual-collateral model further improves the security of the network and ensures the stability and availability of data.

In terms of data processing, Chainbase has achieved high data accessibility for Wanlian Interconnection, unified data format standards, and facilitated data interoperability. By introducing native AI on the chain, Chainbase provides new possibilities for data analysis and application, greatly expanding the application scenarios and value of data.

The Chainbase protocol aims to promote data exchange and value distribution in decentralized data networks, wallets, security, AI and other fields. At present, Chainbase has a wide range of application scenarios in multiple fields. Taking DeFi as an example, Chainbase can provide comprehensive data support and analysis services for DeFi applications. Through Chainbase, DeFi applications can obtain key information such as transaction data and market data on the blockchain in real time, providing strong support for decision-making. At the same time, Chainbase can also provide DeFi applications with safe and efficient data storage and access services to protect users' asset security and data privacy.

Integrating with AI to Create a Crypto World Model

AI is sweeping the world, and Chainbase deeply understands that the combination of AI and blockchain will be the key force driving the development of Web3. The rise of AI is reshaping the operating model of enterprises, and blockchain has become an ideal partner for AI applications with its unique advantages of data transparency and credibility. Through its innovative network, Chainbase transforms raw blockchain data into insights that AI applications can act on, allowing models to understand and process blockchain data more accurately, thereby creating a more intelligent and efficient application platform.

In terms of model innovation in the crypto world, Chainbase is committed to developing the first comprehensive crypto-domain intelligent model, which will significantly enhance the capabilities of artificial intelligence and set a new benchmark for on-chain intelligence. Chainbase firmly believes that this innovation will attract millions of developers and users to participate, realize the standardization of on-chain data interfaces, and bring unprecedented value to data creators and users.

Summary

As the wave of digitalization sweeps the world, data has become a priceless resource, and its strategic position has become increasingly prominent. However, the privacy crisis and monopoly of giants encountered in the Web2 era are driving the industry to explore new ways out. Chainbase, an ambitious project, is striving to build the world's largest full-chain data network, intending to integrate scattered blockchain data into a unified ecosystem, providing an open and transparent data interaction foundation for the upcoming AI era.

Chainbase's core mission is to return data sovereignty to users, ensure privacy and security, and promote a more equitable distribution of data value. With the gradual improvement of the token economic system and the implementation of a series of community incentive mechanisms, Chainbase is gradually triggering its inherent flywheel effect, accelerating the project's overall leap in product iteration, ecosystem construction and user growth.

Chainbase not only redefines the value dimension of data, but also opens up unlimited possibilities for the deep integration of AI technology and blockchain. Its innovative crypto world framework is gradually becoming a reality, indicating that Chainbase is about to enter a more brilliant new stage of development.

This article comes from a contribution and does not represent the views of BlockBeats