Tencent leads US$15 million in financing, how Chainbase builds a full-chain data interaction layer

Author: Pzai, Foresight News

Today, the data generated on the chain has reached hundreds of millions, and the processing of this data has increasingly become an urgent matter in the encryption field. And with the development of the ecosystem, there are varying degrees of bottlenecks and fragmentation in data interoperability between chains, resulting in related use cases (such as AI, wallets, on-chain infrastructure, etc.) requiring more complex construction. Therefore, there is a need for broader and more convenient access to all The demand for chain data is also gradually rising.

Recently, blockchain data network Chainbase announced the completion of a US$15 million Series A financing, led by Tencent Investment Group and Matrix Partners China, Folius Ventures, Hash Global, JSquare, Mask Network and Bodl Ventures Participating in the investment is Tencent’s only investment in the encryption field in the past year.

What is Chainbase?

Chainbase aims to integrate all blockchain data into a unified ecosystem and provide an open and transparent data interoperability layer for the artificial intelligence era. On the operation layer, as the data layer of the full-chain model, it is necessary to organically integrate data. In the Chainbase network, it includes roles such as operators, verifiers, developers and principals, and then provides various services through API and other channels. Web3-like applications provide data. There are now relevant data for more than 20 chains in the network, and instantaneous synchronization is achieved on multiple chains in less than three seconds.

In the network, data is circulated based on the structure of "manuscript", which contains two parts, namely Schema and Operators. Schema defines the data type and corresponding parameters of transactions on the chain. Operations Symbols exist as a means of data extraction and analysis. After the developers compile the manuscripts, the operators (who need to be registered in EigenLayer) will index these manuscripts and confirm with the verifier. The verifier needs to ensure the security and integrity of the data, and the delegator will send the native ETH Or the protocol token CBT is pledged and entrusted to ensure security from an economic level.

Figure 1 Network operation mode

On the underlying construction, it has designed a novel dual-chain technology architecture to support cross-chain data interoperability and programmability, and achieve high throughput volume, low latency and finality, as well as greater network security. Specifically, in the dual-chain technology architecture, the execution layer and the consensus layer are separated. The execution layer builds economic security based on AVS supported by EigenLayer, and provides parallel computing capabilities through the protocol virtual machine (CVM). The operating environment enables high-throughput data processing, allowing developers to handle complex data tasks. In the publicity layer, thanks to the Cosmos CometBFT architecture, data processing can achieve instant finality without additional confirmation or reorganization, and through Cosmos and EigenLayer, the protocol can build a double pledge model.

Token Economics

Within the protocol, CBT serves as a utility token to coordinate data providers and consumers within the network, and incentivize protocol participants to organize data effectively and achieve network sustainability and ecological organic growth.

Figure 2 Token Economics

After the developer creates the manuscript, relevant queries on the dataset are subject to CBT fees, which cover data retrieval costs and 80% of the fee is provided as a contribution to network resources Of the rewards for developers (such as operators and validators), 15% will be allocated to developers, and the remaining 5% will be destroyed to achieve sustainability. In addition, 15% of the total protocol tokens will be linearly distributed within 6 years and fully distributed to operators and principals based on the quality and quantity of data processing. An additional 2% of annual inflation is allocated to validators and their delegators, ensuring the sustainability of the network and long-term incentives.

Crypto World AI Model

The crypto world has always been built on massive and rapidly growing blockchain data, which contains rich knowledge and potential opportunities. While continuously extracting and organizing this data, the large amount of "dark knowledge" in encrypted data cannot be efficiently organized and planned solely by traditional databases and limited manpower. Therefore, for ordinary encryption people, there is a certain threshold for accessing knowledge.

Chainbase has built Theia, a large model of the encryption world based on blockchain data. This model is designed to learn blockchain data and achieve simulation and reasoning of the native blockchain environment. In the future, AI Agents built on it can effectively understand, predict and interact with blockchains. In terms of specific implementation, this model decomposes large models into magnitude vectors and direction vectors, and the resulting matrix can reflect extensive knowledge on the chain, and the complete reasoning chain built on the model provides users with highly legible results. And the decentralized data model naturally has high-performance encryption nativeness and high transparency.

Conclusion

Existing data-related projects are slightly constrained in terms of decentralization, performance, versatility and economic models, and Chainbase hopes to break through this situation to a certain extent. As Mass Adoption approaches, we are facing a more turbulent data tsunami, and solid breakwaters are also being built. We can expect that in the future, based on decentralized high-performance architecture, we can face it more calmly.

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